Search
 

MGM Mirage Gains 2nd Non-Gaming Resort Partner

LAS VEGAS-On the heels of a partnership with the Abu Dhabi government, the locally based public company is negotiating another with the Diaoyutai State Guesthouse in Beijing.

By Brian K. Miller | Updated on December 13, 2006

LAS VEGAS-MGM Mirage is adding to its pool of partners for its push into the non-gaming resort market. On the heels of a partnership with the Abu Dhabi government, the locally based public company says it is in advanced discussions for a similar partnership with the Diaoyutai State Guesthouse in Beijing.

MGM and Diaoyutai State Guesthouse intend to create a joint venture to develop luxury non-gaming hotels and resorts around the world under a new joint brand that associates “MGM Grand” with “Diaoyutai.” The duo initially plans to target locations in the People’s Republic of China. The parties hope to conclude a definitive joint venture agreement in the first quarter of 2007.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.