{"id":1004094760,"date":"2014-04-16T06:55:32","date_gmt":"2014-04-16T14:55:32","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004094760"},"modified":"2022-12-05T16:56:30","modified_gmt":"2022-12-06T00:56:30","slug":"mgm-hakkasan-group-form-jv-hotel-company","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/mgm-hakkasan-group-form-jv-hotel-company\/","title":{"rendered":"MGM, Hakkasan Group Form JV Hotel Company"},"content":{"rendered":"<p><em>By Barbra Murray, Contributing Editor<\/em><\/p>\n<p><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/04\/MGM-Grand.jpg\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004094763\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/mgm-hakkasan-group-form-jv-hotel-company\/mgm-grand\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/04\/MGM-Grand.jpg\" data-orig-size=\"800,526\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;}\" data-image-title=\"MGM Grand\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/04\/MGM-Grand.jpg?w=800\" class=\"alignleft size-medium wp-image-1004094763\" alt=\"MGM Grand\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/04\/MGM-Grand.jpg\" width=\"300\" height=\"197\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/04\/MGM-Grand.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/04\/MGM-Grand.jpg?resize=300,197 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/04\/MGM-Grand.jpg?resize=768,505 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a>MGM Resorts International and Hakkasan Group have partnered before, but now the two companies are taking their relationship to the next level with the creation of MGM Hakkasan Hospitality, a joint venture hotel management company.<\/p>\n<p>It\u2019s a marriage made in hospitality heaven. A product of Sin City, MGM is one of the world\u2019s top international hospitality and entertainment companies, while London-based Hakkasan, in just 13 years, has solidified its prominence as a leading global lifestyle group providing unique restaurant and nightlife offerings.<\/p>\n<p>&#8220;MGM Hospitality and Hakkasan Group are both entities with strong brand portfolios, experienced management teams, and similar development strategies, and the formation of MGM Hakkasan Hospitality enables us to take advantage of the synergies of operating as one company,\u201d Michael Evans, chief operating officer, MGM Hakkasan, told <em>Commercial Property Executive<\/em>.<\/p>\n<p>There are no games involved. MGM Hakkasan will design, develop and manage upscale non-gaming hotels, resorts and residential properties under MGM\u2019s Bellagio, MGM Grand and Skylofts flags, and the Hakkasan brand. The target locations for the new projects will span the globe, with a focus on the top international gateway cities and premier resort destinations.\u00a0 New York, Beverly Hills and London are on the list, for starters.<\/p>\n<p>The companies will kick-off the new joint venture by contributing the hotel and resort projects that they currently have underway. It\u2019s a global start. The list includes MGM developments in the Americas, the Middle East and Asia, as well as Hakkasan\u2019s endeavors in Abu Dhabi and Dubai.<\/p>\n<p>\u201cWe believe that the timing of the formation of our joint venture is perfect, as the supply of new hotels in key markets in the Americas and Europe has been very limited over the last several years, and we are very well positioned to capitalize on the current upswing in the cycle,\u201d Evans added.<\/p>\n<p>A previous endeavor between MGM and Hakkasan hints at the potential success of the new partnership. In April 2013, the companies debuted Hakkasan Las Vegas Restaurant and Nightclub at MGM Grand to much fanfare.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>MGM Resorts International and Hakkasan Group have partnered before, but now the two companies are taking their relationship to the next level with the creation of MGM Hakkasan Hospitality, a joint venture hotel management company.<\/p>\n","protected":false},"author":969,"featured_media":1004094763,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21751,1593,21742,15],"tags":[],"class_list":["post-1004094760","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-hotel","category-las-vegas","category-latest","category-west"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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