MGM and Hakkasan Form New Hotel Management Company

Hakkasan Las Vegas Restaurant and Nightclub at MGM Grand.

MGM Resorts International and Hakkasan Group on April 15 announced the formation of MGM Hakkasan Hospitality, a joint venture hotel management company, which will focus on the design, development and management of luxury non-gaming hotels, resorts and residential offerings under the Bellagio, Hakkasan, MGM Grand and Skylofts brands across the globe. All of the hotel and resort projects currently under development by each group will be contributed to the joint venture, including MGM projects in the Americas, the Middle East and Asia; and Hakkasan projects in Abu Dhabi and Dubai.

MGM Hakkasan Hospitality marries the strengths of MGM Resorts International and Hakkasan Group. MGM Resorts is recognized for designing and operating destination hotels, while Hakkasan Group is a global lifestyle company offering a unique approach to restaurant, lounge, nightlife and daylife experiences.

Jim Murren, chairman and CEO of MGM Resorts International, said, “Our partnership with the team at Hakkasan began with the incredibly successful opening of Hakkasan Las Vegas Restaurant and Nightclub at MGM Grand in April 2013. Growing that relationship to form MGM Hakkasan Hospitality provides us both with access to capital as well as the opportunity to join their internationally renowned lifestyle brand with iconic brands such as Bellagio and MGM Grand as we seek to create resort destinations and lifestyle experiences around the globe.”

Hakkasan Group CEO Neil Moffitt will lead the joint venture, as he becomes CEO of MGM Hakkasan Hospitality, and MGM Hospitality COO Michael Evans will be COO of the newly formed company. The company will operate under a combined board and governance.

www.mgmhk.com, www.mgmresorts.com, www.hakkasangroup.com