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NEWS| Intl| Credit crisis hits Sands'Macau resort plan; Project on hold as $5US.25b loan halted

US gambling giant Las Vegas Sands has scrapped plans to raise $5US.25 billion in loans for its expansion in Macau - including funding for a hotel resort complex - due to the credit crunch and a weak appetite among lenders amid the market turmoil, sources said.

"Right now it is a pulled deal. It will come back when they cook up a new shape and new price," a source familiar with the situation said.

Editor | This is international, but do you know of any deals not working out in India? Is the credit crunch going to affect hotel projects here? let me know


NEWS| Intl| Walt Disney Parks & Resorts' first stand-alone hotel and time-share

Walt Disney Parks & Resorts unveiled yesterday details of its first stand-alone hotel and time-share resort at Ko Olina Resort & Marina, estimated to cost at least $800 million.

The expansive resort, projected to open in 2011, will include 350 hotel rooms and 480 time-share villas as part of the Disney Vacation Club, as well as an 8,000-square-foot conference center and 18,000-square-foot spa, and is expected to bring 1,000 jobs to Oahu's Leeward Coast.

The development furthermore is seen as a catalyst to help long-struggling Ko Olina achieve critical mass and push Kapolei further to attaining Oahu's second-city status.

Disney's worldwide time-share operation has more than 350,000 members from more than 100 countries, though it is not yet registered with the state to sell vacation club memberships here.