|By Amanda Finnegan, Las Vegas
SunMcClatchy-Tribune Regional News
Feb. 01, 2011--MGM Hospitality, a division of MGM Resorts International, announced today it has signed an agreement to operate the company's first hotel in India.
The MGM Grand and Skylofts New Dehli will be part of a multi-hotel development in India's capital city. MGM Hospitality will operate the hotel in partnership with Silver Resort Hotel India Private Limited.
The hotel will feature about 480 rooms, along with a number of suites and apartments.
The project is expected to break ground in March with an opening date of early 2014.
"This announcement is of particular significance as it marks our company's entry into the burgeoning India marketplace," said Gamal Aziz, president and CEO of MGM Hospitality. "Our brands are known the world over, but being welcomed into a new nation is always exciting, especially one with a hospitality market as dynamic as India's."
The company formed MGM Mirage Hospitality in May 2007, now known as MGM Hospitality, to explore opportunities in international markets. MGM Grand Macau, which opened in December 2007, was the company's first international venture. The hotel-casino is a 50-50 partnership with Pansy Ho.
The casino operator is acquiring the management of hotel developments in Vietnam, Dubai and Egypt through the subsidiary. The business plan calls for MGM Resorts Hospitality to acquire the management of 42 hotels around the world in the next 10 years.
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