FASHION SHOW, GRAND CANAL SHOPPES CREATE SIGNATURE LUNAR NEW YEAR PROMOTION WITH UNIONPAY, CHINA’S PREMIER BANKCARD ASSOCIATION

 In Press Releases

LAS VEGAS – In anticipation of the influx of Chinese tourists coming to Las Vegas to celebrate Chinese New Year, two major retail destinations on the Las Vegas Strip, both owned by General Growth Properties, have created a signature promotion rewarding UnionPay cardholders. UnionPay is the only bankcard association in China with more than 700 million cardholders. The promotion gives the centers a unique marketing opportunity to reach Chinese visitors to Las Vegas during the peak travel season of Chinese Lunar New Year. Fashion Show, the largest retail center in Las Vegas at nearly 2 million square feet, and Grand Canal Shoppes at The Venetian | The Palazzo, will provide UnionPay cardholders with a Chinese New Year gift bag. A limited number of gift bags may be claimed by UnionPay cardholders at Fashion Show Concierge Services located on the lower level by Macy’s. In addition, Grand Canal Shoppes will offer a limited number of gift bags and a “Lucky Draw” gift-with-purchase to cardholders spending over $1,000 at the center. Upon presentation of Grand Canal Shoppes receipts, cardholders will have the opportunity to select a red envelope containing a gift card valued from $25 – $100. Gift bags and “Lucky Draw” gift-with-purchase offers may be redeemed on the second level of the Grand Canal Shoppes, between Barneys New York and Michael Kors.

Fashion Show is recognized as one of the top ten shopping centers in the United States for the volume of UnionPay transactions processed by its retailers. Established in 2002, UnionPay has issued more than 2.9 billion cards total which include debit, credit, and online payment cards. Most every Chinese tourist takes UnionPay cards to the U.S. when traveling, according to UnionPay research.

According to a 2012 Nilson Report, UnionPay owned more than 45 percent of the market in terms of total credit and debit cards in circulation worldwide. Visa ranked second at nearly 36 percent, followed by MasterCard at 16 percent, American Express at 1.5 percent, JCB at 1.1 percent and Diners at just under 1 percent.

“The sheer size of the UnionPay market, coupled with growing visitation by Chinese travelers to Las Vegas and their average spend in the city, make this promotion very significant for us,” said Janet LaFevre, senior marketing manager, Fashion Show and Grand Canal Shoppes at The Venetian | The Palazzo.

We recognize the value and power of the Chinese traveler,” said LaFevre. “We are expanding our reach to the Chinese tourist through recent sales missions to Beijing, Shanghai, Chengdu and Guangzhou, along with Chinese advertising campaigns, social media and trade show participation. Our efforts are already paying off via our cooperation with UnionPay that will help to draw even greater numbers of Chinese shoppers to Fashion Show and Grand Canal Shoppes.”

According to LaFevre, designer brands tend to resonate most with Chinese shoppers. These include global powerhouses like Christian Louboutin, Fendi, Ferragamo, Louis Vuitton, Coach, Burberry, Giorgio Armani and Prada – among others. “Fashion Show’s luxury department stores – Neiman Marcus, Saks Fifth Avenue, Nordstrom and Macy’s, along with Barneys New York and select stand-out luxury retail brands at Grand Canal Shoppes – are well stocked with these brands and more,” stated LaFevre. “Fashion Show, in particular, is home to more than 250 stores and boutiques and offers a literal retail buffet that caters to all tastes and budgets. It’s just one of the reasons Fashion Show ranks so high nationally in terms of UnionPay transactions processed. We look forward to a very successful Chinese New Year shopping season.”

In addition to the gift bag and lucky draw incentives, Chinese New Year visitors will also enjoy special festivities at neighboring Venetian and Palazzo resorts. The ceremonial dragon dance commences Friday, January 31 and features a parade of dancers and drummers dressed in authentic costumes who dance their way throughout the properties.

The resorts’ floral and horticulture department worked with a team of artisans and consulted with a Feng Shui master to produce a spectacular and impressive “Year of the Horse” art installation. The display is located at The Waterfall Atrium & Gardens of The Palazzo through February 16. And don’t miss the debut of the highly anticipated PANDA! theatrical spectacular at The Venetian and The Palazzo. The new resident show from acclaimed director An Zhao is direct from Beijing, where it was produced by a team whose impressive credits include the opening and closing ceremonies of the 2008 Summer Olympics in Beijing. For show times and tickets, visit www.venetian.com/panda.

Across The Strip at Fashion Show, Macy’s, one of Fashion Show’s seven anchor department stores, is also very active in terms of its outreach to the growing Chinese market. “We have partnered closely with UnionPay and have accepted UnionPay card payments at all our stores for nearly ten years,” said Brian Chuan, director of tourism marketing and development for Macy’s Inc. “Macy’s has a dedicated tourism marketing team offering exclusive visitor programs, and our Fashion Show store features a Visitor Center to service visiting guests. In celebrating coming of the Year of the Horse, Macy’s will further our focus in welcoming Chinese shoppers with special in-store events, displays and merchandising at select destinations.”

“China is currently the number one source of international travel to Las Vegas from Asia and continues to grow at a rapid pace,” said Michael Goldsmith, vice president of international marketing for the Las Vegas Convention and Visitors Authority. “Las Vegas welcomed 263,000 visitors from China in 2012, a 40 percent increase from the prior year.”

According to the U.S. Department of Commerce, visitation to the United States from Chinese travelers grew in 2012 by 35 percent, surpassing both South Korea and France to reach the number five spot for arrivals. The Department of Commerce/National Travel and Tourism Office’s 2013 Fall Travel Forecast indicates continued strong growth for inbound international travel. China is forecast to be one of the largest growth countries in year-over-year percent increases with a projected 24 percent increase in 2014 and a 219 percent increase from 2013 to 2018.

The International Trade Association’s Office of Travel & Tourism Industries (OTTI) calculated 2012 Chinese expenditures in the U.S. at $8.8 billion. According to the U.S. Department of Commerce, Chinese travelers spend more per traveler than any of the top 11 inbound international markets; they tend to stay longer, visit more destinations, and shopping is their top preferred activity.

About Fashion Show:
At nearly 2 million square feet, Fashion Show is the largest shopping destination on the Las Vegas Strip and one of the largest shopping centers in the USA. Anchored by Neiman Marcus, Saks Fifth Avenue, Macy’s, Macy’s Men’s Store, Dillard’s, Nordstrom and Forever 21, Fashion Show houses an eclectic mix of more than 250 stores and one-of-a-kind boutiques. Fashion Show’s Great Hall features an 80-foot retractable runway and stage where nearly 20 fashion shows are held every weekend. First-to-market stores at Fashion Show include Topshop/Topman, Vince Camuto, Halston Heritage, Uno de 50, Lululemon Athletica, Scotch and Soda, Desigual, Pinto Ranch and many more. For more information, visit www.thefashionshow.com.

About Grand Canal Shoppes at The Venetian | The Palazzo:
Located inside The Venetian | The Palazzo Resort-Hotel-Casino, the center boasts 160 specialty brands and world-class restaurants nestled around a charming and faithful reproduction of Venice’s Grand Canal, complete with cobbled walkways, street side cafes and live entertainment. Signature brands including Nevada’s only Barneys New York, Jimmy Choo, Diane von Furstenberg, Christian Louboutin, Kenneth Cole, Dooney & Bourke, Hervé Léger and Swarovski, create an unparalleled retail environment that includes a star-studded line-up of restaurants headed by famous celebrity chefs: Wolfgang Puck’s Postrio Bar & Grill and CUT, Emeril Lagasse’s Delmonico Steakhouse and Table 10, Joachim Splichal’s Pinot Brasseri, Mario Batali’s OTTO Pizzeria and Gianpaolo Putzu’s Canaletto. The center is also home to entertainment superstars, TAO Asian Bistro & Nightclub, and Lavo Italian Restaurant and Nightclub. For additional information, visit www.thegrandcanalshoppes.com

About GGP:
General Growth Properties is a fully integrated, self-managed and self-administered real estate investment trust focused exclusively on owning, managing, leasing, and redeveloping high quality retail properties throughout the United States. GGP’s portfolio is comprised of 123 high-quality retail properties in the United States comprising approximately 128 million square feet. GGP is headquartered in Chicago, Illinois, and publicly traded on the NYSE under the symbol GGP. For more information, visit www.ggp.com.

Media Contact:
Melissa Warren, melissa@ffwpr.com, 702-528-6016
McKinzie Cogswell, mckinzie@ffwpr.com; 702-234-5307

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