News for the Hospitality Executive
MGM Hospitality Signs Definitive Agreements for the
LAS VEGAS, Oct. 11, 2011-- MGM Hospitality, a wholly owned subsidiary of MGM Resorts International (NYSE: MGM), has signed definitive agreements in connection with the development and operation of a Bellagio hotel, an MGM Grand hotel, and a Skylofts hotel, as part of the Maker Maxity mixed-use development complex in Mumbai, India.
Maker Maxity is an approximately 20 acre integrated commercial, entertainment, and hospitality complex that will not only be a landmark for Mumbai but will set a new standard for mixed-use development projects in the entire region. Maker Maxity is part of and strategically located at the entry point of the Bandra Kurla Complex, the city's new Central Business District, at Mumbai's geographic center and is bordered by the new International Finance Center on one side and Bandra – one of Mumbai's most prestigious and affluent residential neighborhoods -- on the other. In addition to the Bellagio, MGM Grand, and Skylofts hotels, the immaculately designed and meticulously planned complex includes five Class A commercial office buildings, a luxury retail development, and a private club as part of the hospitality precinct.
In addition to providing world class hotel facilities catering to all requirements of an international business traveler, the Bellagio, MGM Grand, and Skylofts hotels will offer the dynamic culinary, nightlife, entertainment, and meeting venues that are synonymous with MGM Resorts' brands, and will result in Maker Maxity being the centerpiece for all of Mumbai's social and business activities.
"The proximity to Bollywood and the affluent Bandra neighborhood provides a perfect setting for the confluence of energy, indulgence and luxury that the Bellagio, MGM Grand and Skylofts hotels will bring to the destination," said Gamal Aziz, CEO of MGM Hospitality.
Mr. Aziz added that "MGM is honored to be selected for this landmark project which marks a huge milestone in our strategy to extend our brand reach in the sophisticated and fast growing Indian hospitality market."
A spokesperson for Maker Maxity said "MGM Hospitality is a renowned international developer of hospitality entertainment destination experiences with an extraordinary portfolio of distinctive, world-renowned destinations. Their unmatched ability to capture the essence of a place and combine it with a style and energy that extends from their Las Vegas DNA enables us to create an entirely new scene in Bandra Kurla, one that is relevant, vital, and inextricably tied to our rich Mumbai culture."
About MGM Hospitality
MGM Hospitality is a wholly owned subsidiary of MGM Resorts International (NYSE: MGM), that was formed to operate hotels, resorts and residences in key destinations around the world under the brands Bellagio, MGM Grand and Skylofts. MGM Hospitality specializes in creating captivating and celebrated destinations that, through the interplay of design and innovative dining, retail and spa offerings, infuse entertainment and excitement into every element of the hospitality experiences we create and manage.
MGM Hospitality is focused on establishing our hotels and resorts in all international gateway cities and prime resort destinations around the world, with a pipeline that currently includes projects in the Middle East, North Africa, India, and China. MGM Hospitality also provides project management and development services and shares the same commitment to sustainable building and operations as our parent company MGM Resorts International. For more information about MGM Hospitality, please visit the Company's website at www.mgmhospitality.com.
Statements in this release which are not historical facts are "forward looking" statements and "safe harbor statements" Under the Private Securities Litigation Reform Act of 1995 that involve risks and/or uncertainties, including risks and/or uncertainties as described in the company's public filings with the Securities and Exchange Commission.
GORDON M. ABSHER
Vice President of Public Affairs
MGM Resorts International
Web Site: http://www.mgmhospitality.com
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