MGM Resorts

North America

Park Hotels Beats First-Quarter Estimates 

Park Hotels exceeded adjusted EBITDA and AFFO estimates and raised their financial guidance, citing optimism in their group and leisure outlook, likely due to recently renovated properties.
Asia-Pacific

IHG Plans to Run 100 Hotels in India by 2029

IHG Hotels & Resorts plans to double its presence in India to 100 hotels over the next five years, expanding in key cities and introducing the InterContinental brand in Telangana by 2029.
Asia-Pacific

Seoul Plans a Floating Hotel

Seoul plans to develop floating office and hotel buildings with leisure facilities on the Han River by 2030 to enhance the river’s potential and attractiveness.
North America

NoMad Las Vegas Will Be Rebranded

NoMad’s Las Vegas property will be left behind as new owner Hilton focuses on other properties currently – and in the future – of the brand.
Asia-Pacific

Shanghai Will Get a Mirage by MGM Hotel

Tishman Speyer partners with Diaoyutai MGM Hospitality to open Mirage by MGM Shanghai in 2027 within a new mixed-use tower at The Springs, featuring luxury rooms and upscale amenities.
North America

MGM Collection with Marriott Bonvoy Launches

MGM Collection with Marriott Bonvoy, the brand created by MGM Resorts International and Marriott International, is now accepting reservations for 16 hotel and resort destinations on Marriott’s website and app.
Asia-Pacific

Fosun Explores Selling a Stake in Club Med

Fosun International was reported by Reuters to be exploring the sale of a minority stake in Club Med, targeting a valuation of US$800 million for the whole business. Reuters said Fosun has been in discussions informally with potential buyers and advisors about the sale but no firm bid has emerged.
North America

Hilton and Marriott’s Banner 2023

Hilton said they ended 2023 with the strongest development quarter in its history while Marriott International, Inc. announced the company’s record year of global signings with 52% more organic rooms signed in 2023 than the previous year.
Asia-Pacific

Mandarin Oriental Unveils Three Resorts in Japan

There are notable expansion and renovations worldwide, including the opening of the Hyatt Place Bodh Gaya in India, the launch of Mondrian Hong Kong, and the extensive refurbishment of Peppers Marysville in Australia’s Yarra Valley. Osaka, Japan, aims to attract 20 million visitors annually with the new MGM Osaka resort. Mandarin Oriental announces plans for three unique resorts in Setouchi, Japan.
Asia-Pacific

Hilton’s Planned Hotel Openings in Asia Pacific

JLL’s Hotel Momentum India  report said a total of 59 hotels comprising around 4,700 keys were signed in  India  in the last quarter. Hilton  announced some of their 2024 planned openings in the  Asia Pacific region. First up will be  Conrad Singapore Orchard  on January 1. The  Sri Lanka Convention Bureau  is working to establish the country’s Northern province as a destination for MICE for South  India .