MGM RESORTS INTERNATIONAL AND MARRIOTT INTERNATIONAL SIGN AGREEMENT TO LAUNCH W LAS VEGAS
MGM Resorts International (NYSE: MGM) and Marriott International, Inc. (Nasdaq: MAR) have announced plans to convert an iconic property on the Las Vegas Strip to W Las Vegas, part of the W Hotels brand within the Marriott Bonvoy® portfolio. This conversion, anticipated to complete later this year, is the latest step in the companies' long-term strategic licensing agreement announced in July 2023.
Since the MGM Collection with Marriott Bonvoy officially launched in March 2024, bookings have significantly outpaced projections. The collaboration allows Marriott Bonvoy's 200 million members to enjoy benefits and redeem points at MGM Resorts' destinations, while MGM Rewards members can status match and receive benefits at Marriott's global portfolio of approximately 9,000 properties.
Located on the Mandalay Bay Campus, W Las Vegas will be the 12th destination on the Las Vegas Strip within the MGM Collection with Marriott Bonvoy, joining properties such as Bellagio, ARIA Resort & Casino, and The Cosmopolitan of Las Vegas.
MGM Resorts International (NYSE: MGM) e Marriott International, Inc. (Nasdaq: MAR) hanno annunciato piani per convertire una proprietà iconica sulla Las Vegas Strip in W Las Vegas, parte del brand W Hotels all'interno del portafoglio Marriott Bonvoy®. Questa conversione, prevista per essere completata entro la fine dell'anno, rappresenta l'ultimo passo nell'accordo di licenza strategica a lungo termine tra le aziende annunciato a luglio 2023.
Dall'ufficiale lancio della MGM Collection with Marriott Bonvoy avvenuto a marzo 2024, le prenotazioni hanno superato significativamente le previsioni. La collaborazione consente ai 200 milioni di membri di Marriott Bonvoy di godere di vantaggi e riscattare punti presso le destinazioni di MGM Resorts, mentre i membri di MGM Rewards possono ottenere il matching dello status e ricevere vantaggi presso il portafoglio globale di circa 9.000 proprietà di Marriott.
Situato nel Mandalay Bay Campus, W Las Vegas sarà la dodicesima destinazione sulla Las Vegas Strip all'interno della MGM Collection with Marriott Bonvoy, unendosi a proprietà come Bellagio, ARIA Resort & Casino e The Cosmopolitan of Las Vegas.
MGM Resorts International (NYSE: MGM) y Marriott International, Inc. (Nasdaq: MAR) han anunciado planes para convertir una propiedad icónica en el Strip de Las Vegas en W Las Vegas, parte de la marca W Hotels dentro del portafolio Marriott Bonvoy®. Esta conversión, que se espera completar a finales de este año, es el último paso en el acuerdo de licencia estratégica a largo plazo entre las empresas anunciado en julio de 2023.
Desde el lanzamiento oficial de la MGM Collection with Marriott Bonvoy en marzo de 2024, las reservas han superado significativamente las proyecciones. La colaboración permite a los 200 millones de miembros de Marriott Bonvoy disfrutar de beneficios y canjear puntos en los destinos de MGM Resorts, mientras que los miembros de MGM Rewards pueden igualar su estatus y recibir beneficios en el portafolio global de aproximadamente 9,000 propiedades de Marriott.
Ubicado en el Mandalay Bay Campus, W Las Vegas será el duodécimo destino en el Strip de Las Vegas dentro de la MGM Collection with Marriott Bonvoy, uniéndose a propiedades como Bellagio, ARIA Resort & Casino y The Cosmopolitan of Las Vegas.
MGM 리조트 인터내셔널(NYSE: MGM)과 메리어트 인터내셔널, Inc.(Nasdaq: MAR)는 W Las Vegas를 라스베이거스 스트립의 상징적인 부동산으로 변경할 계획을 발표했습니다. 이 호텔은 메리어트 본보이 브랜드의 W Hotels의 일환으로, 올해 말 완료될 것으로 기대됩니다. 이 변경은 2023년 7월에 발표된 두 회사의 장기 전략 라이센스 계약의 최신 단계입니다.
2024년 3월에 공식 출범한 MGM Collection with Marriott Bonvoy 이후, 예약 수치는 예상치를 크게 초과했습니다. 이 협력은 메리어트 본보이의 2억 회원들이 MGM 리조트의 목적지에서 혜택을 누리고 포인트를 적립할 수 있게 하며, MGM 리워드 회원들은 메리어트의 약 9,000개 글로벌 포트폴리오에서 혜택을 받을 수 있도록 등급을 조정할 수 있습니다.
만달레이 베이 캠퍼스에 위치한 W Las Vegas는 MGM Collection with Marriott Bonvoy 내에서 라스베이거스 스트립의 12번째 목적지가 되며, 벨라지오, ARIA 리조트 및 카지노, 더 코스모폴리탄 오브 라스베이거스와 같은 부동산과 함께하게 됩니다.
MGM Resorts International (NYSE: MGM) et Marriott International, Inc. (Nasdaq: MAR) ont annoncé des plans pour convertir une propriété emblématique sur le Strip de Las Vegas en W Las Vegas, qui fait partie de la marque W Hotels dans le portefeuille Marriott Bonvoy®. Cette conversion, qui devrait être achevée plus tard cette année, représente la dernière étape de l'accord de licence stratégique à long terme annoncé entre les deux entreprises en juillet 2023.
Depuis le lancement officiel de la MGM Collection with Marriott Bonvoy en mars 2024, les réservations ont largement dépassé les prévisions. La collaboration permet aux 200 millions de membres de Marriott Bonvoy de bénéficier d'avantages et de convertir des points dans les destinations de MGM Resorts, tandis que les membres de MGM Rewards peuvent égaliser leur statut et recevoir des avantages dans le portefeuille mondial d'environ 9 000 propriétés de Marriott.
Situé sur le campus de Mandalay Bay, W Las Vegas sera la douzième destination sur le Strip de Las Vegas dans le cadre de la MGM Collection avec Marriott Bonvoy, rejoignant des propriétés comme Bellagio, ARIA Resort & Casino et The Cosmopolitan de Las Vegas.
MGM Resorts International (NYSE: MGM) und Marriott International, Inc. (Nasdaq: MAR) haben Pläne angekündigt, eine ikonische Immobilie am Las Vegas Strip in W Las Vegas umzuwandeln, die Teil der W Hotels-Marke im Portfolio von Marriott Bonvoy® ist. Diese Umwandlung, die voraussichtlich noch in diesem Jahr abgeschlossen wird, ist der jüngste Schritt in der langfristigen strategischen Lizenzvereinbarung der Unternehmen, die im Juli 2023 angekündigt wurde.
Seit dem offiziellen Start der MGM Collection with Marriott Bonvoy im März 2024 übertreffen die Buchungen die Prognosen erheblich. Die Zusammenarbeit ermöglicht es den 200 Millionen Mitgliedern von Marriott Bonvoy, Vorteile zu genießen und Punkte an den Zielen von MGM Resorts einzulösen, während die Mitglieder der MGM Rewards ihren Status anpassen und Vorteile im globalen Portfolio von Marriott mit rund 9.000 Immobilien erhalten können.
W Las Vegas wird sich auf dem Mandalay Bay Campus befinden und das zwölfte Ziel am Las Vegas Strip innerhalb der MGM Collection mit Marriott Bonvoy sein, das sich mit Immobilien wie Bellagio, ARIA Resort & Casino und The Cosmopolitan of Las Vegas zusammenschließt.
- Conversion of an iconic Las Vegas Strip property to W Las Vegas, expanding the MGM-Marriott collaboration
- Bookings for MGM Collection with Marriott Bonvoy significantly outpacing projections since March 2024 launch
- Addition of W Las Vegas brings MGM Collection with Marriott Bonvoy to 12 destinations on the Las Vegas Strip
- Enhanced benefits for 200 million Marriott Bonvoy members at MGM Resorts destinations
- MGM Rewards members gain access to benefits at Marriott's global portfolio of approximately 9,000 properties
- None.
Insights
The partnership between MGM Resorts and Marriott International marks a significant strategic move in the hospitality industry. The conversion of an iconic Las Vegas Strip property to W Las Vegas demonstrates the continued evolution of luxury offerings in the city. This collaboration leverages the strengths of both companies:
- MGM gains access to Marriott's extensive brand portfolio and distribution channels
- Marriott expands its presence in the lucrative Las Vegas market
- Both companies benefit from cross-pollination of their loyalty programs
The success of the MGM Collection with Marriott Bonvoy, with bookings significantly outpacing projections, indicates strong consumer interest. This could potentially lead to increased occupancy rates and higher average daily rates for MGM properties. The addition of W Las Vegas to the portfolio further diversifies MGM's offerings, potentially attracting a new demographic of luxury lifestyle travelers.
For investors, this partnership could translate to enhanced revenue streams and improved competitive positioning for MGM in the Las Vegas market. The ability to tap into Marriott's 200 million Bonvoy members represents a substantial opportunity for customer acquisition and retention.
The strategic licensing agreement between MGM Resorts and Marriott International presents a compelling value proposition for both companies and their shareholders. Key points to consider:
- Brand Synergy: W Hotels' luxury lifestyle brand aligns well with Las Vegas's entertainment-focused market, potentially driving higher-value bookings.
- Loyalty Program Integration: The cross-pollination of MGM Rewards and Marriott Bonvoy creates a powerful loyalty ecosystem, likely increasing customer retention and lifetime value.
- Distribution Channel Expansion: MGM gains access to Marriott's global distribution network, potentially reducing customer acquisition costs and expanding its international reach.
The initial success of the MGM Collection with Marriott Bonvoy, evidenced by the "hundreds of thousands of room nights booked," suggests strong market acceptance. This could lead to increased market share for MGM in the competitive Las Vegas hospitality landscape.
Investors should monitor key performance indicators such as RevPAR (Revenue Per Available Room) and occupancy rates in the coming quarters to gauge the partnership's impact on MGM's financial performance.
"Our relationship with Marriott has far exceeded our expectations, demonstrating the power of its brand portfolio and the strength of their distribution channels," said Steve Zanella, President of MGM Resorts Operations. "
"We're thrilled to continue working with MGM to bring
Since MGM Collection with Marriott Bonvoy officially launched in March 2024, bookings are significantly outpacing anticipated projections with hundreds of thousands of room nights booked. This collaboration between two trusted hospitality brands means more than 200 million Marriott Bonvoy members can enjoy unique benefits and redeem points at MGM Resorts' destinations while MGM Rewards members can status match and receive member benefits at Marriott's global portfolio of approximately 9,000 properties.
Located on the Mandalay Bay Campus, the property is slated to officially join the W Hotels portfolio later this year, with additional plans for the property to be announced in the future.
With the addition of
To learn more about MGM Collection with Marriott Bonvoy, visit here.
ABOUT MGM RESORTS INTERNATIONAL
MGM Resorts International (NYSE: MGM) is an S&P 500® global entertainment company with national and international locations featuring best-in-class hotels and casinos, state-of-the-art meetings and conference spaces, incredible live and theatrical entertainment experiences, and an extensive array of restaurant, nightlife and retail offerings. MGM Resorts creates immersive, iconic experiences through its suite of
ABOUT MARRIOTT INTERNATIONAL
Marriott International, Inc. (Nasdaq: MAR) is based in
FORWARD LOOKING STATEMENTS
Statements in this release that are not historical facts are forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, and involve risks and/or uncertainties, including those described in the Company's public filings with the Securities and Exchange Commission. Forward-looking statements can be identified by the use of forward-looking terminology such as "believes," "expects," "could," "may," "will," "should," "seeks," "likely," "intends," "plans," "pro forma," "projects," "estimates" or "anticipates" or the negative of these words and phrases or similar words or phrases that are predictions of or indicate future events or trends and that do not relate solely to historical matters. The Company has based forward-looking statements on management's current expectations and assumptions and not on historical facts. Examples of these statements include, but are not limited to, the Company's expectations regarding the conversion to the W Hotels brand and any expected benefits to the Company or guests of the property as a result of the conversion. Forward-looking statements depend on assumptions, data or methods that may be incorrect or imprecise, and the Company may not be able to realize them. The Company does not guarantee that the conversion or other events described herein will happen as described (or that they will happen at all). These forward-looking statements involve a number of risks and uncertainties. Among the important factors that could cause actual results to differ materially from those indicated in such forward-looking statements include risks related to the economic and market conditions in the markets in which the Company operates and competition with other destination travel locations throughout
MEDIA CONTACT
media@mgmresorts.com
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SOURCE MGM Resorts International
FAQ
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