MGM Mirage gambles on the China hospitality market
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MGM Mirage, the US hotel and gaming company, has entered an agreement with the Diaoyutai State Guesthouse in Beijing with a view to pursuing non-gaming business in China . The Diaoyutai State Guesthouse in Beijing was once reserved specifically for foreign dignitaries and was even the permanent residence of Madame Mao. MGM Mirage owns and operates a number of globally renowned Casino brands such as the Bellagio and MGM Grand. The joint co-branding venture will develop a series of luxury hotels and resorts, initially in the PRC, but with a view to global expansion in the future. Terry Lanni, Chairman and CEO, MGM MIRAGE, said: "We believe that the association of 'MGM Grand' and 'Diaoyutai' will provide significant opportunities…to expand our brand identity in rapidly growing international markets.” Feng Shusen, Director General, China Diaoyutai State Guesthouse, said: "The signing of our agreement with MGM MIRAGE marks the beginning of a strong partnership. Together, we will develop luxury non-gaming hotels and resorts, using the strength of our brands and our dedication to providing the finest in hospitality and service." The move is the latest by MGM Mirage to gain exposure in the China market following two Macau casino developments in partnership with Pansy Ho Chiu-king under the MGM Grand Paradise venture. The first developments, the US$1.1 bil MGM Grand Macau is scheduled to open in the fourth quarter of 2007, while plans for a second resort are expected to be submitted to the Macau SAR government before the end of the year. Key words: Macau Gaming, MGM Mirage, MGM Grand Paradise, Diaoyutai State Guesthouse , China hospitality market   return to www.rfpmagazine.com
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