Soon MGM is going to be also in Asia

| Published on August 6, 2009

Wall Street Journal reported that normally it took big hotel companies 4 years to gain entry in the lucrative Las Vegas Strip. Now, MGM Mirage, which is one the L.V. Stripâ€™s biggest gambling houses, is making an entrance into the hotel industry and then it plans to expand to places like Cairo or the Asian Vietnam. According to the words of the MGM Mirage executive, the company signed 8 hotel-management deals with developers and now itâ€™s in discussions with 10 more, about opening hotels. Those hotels will be marketed as luxury and there wonâ€™t be any casinos.

So far signed agreements include Dubai, the Egyptian Red Sea resort of Sharm El Sheikh and the famous Bellagio. Bellagio is the hotel-casino that became famous because of its dancing fountains and scenes with George Clooney and Brad Pitt in the Oceanâ€™s Eleven movie.

Other MGM properties are planning to open in Cairo, in Vietnam and Tianjin, China. Within MGM Grand, some of the locations will include Skylofts and luxury boutiques.

In 2007 an MGM Mirage Hospitality was formed and the head of it is Gamal Aziz, who said that they want to leverage their brands without any capital.
Under all the deals, MGM Mirage expects to generate incomes of around $ 100 million a year from hotel operations by 2014 without spending money to develop the hotels.

MGM Mirage Cairo Vietnam China Dubai hotels Bellagio Las Vegas Strip

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