W LAS VEGAS DEBUTS AT MANDALAY BAY

Rhea-AI Summary

MGM Resorts International and Marriott International have officially launched W Las Vegas, transforming the 1,117-suite tower at Mandalay Bay into part of the W Hotels brand. Starting December 18, 2024, Marriott Bonvoy members can book stays and earn/redeem points at this new destination, which joins the MGM Collection with Marriott Bonvoy portfolio.

This marks another milestone in the strategic licensing agreement between both companies announced in 2023. The collaboration connects over 200 million Marriott Bonvoy members with MGM Resorts destinations across the U.S., while MGM Rewards members can status match across Marriott's global portfolio of approximately 9,000 properties. W Las Vegas becomes the 12th destination on the Las Vegas Strip within the MGM Collection.

Positive

• Addition of 1,117-suite luxury tower to MGM's portfolio
• Access to Marriott Bonvoy's 200 million member base
• Expansion of MGM Collection to 12 Las Vegas Strip properties
• Cross-platform benefits for both MGM Rewards and Marriott Bonvoy members

Negative

• None.

Insights

Market Research Analyst

The strategic integration of W Las Vegas into MGM's portfolio represents a significant expansion of the MGM Collection with Marriott Bonvoy, strengthening MGM's position in the luxury hospitality segment. The addition of the 1,117-suite tower enhances MGM's competitive edge by tapping into Marriott's extensive loyalty network of over 200 million Bonvoy members. Since March 2024, the partnership has already demonstrated success by attracting hundreds of thousands of new Marriott Bonvoy guests to MGM properties.

This collaboration creates a powerful cross-pollination of loyalty programs, enabling both companies to capture greater market share in the competitive Las Vegas hospitality sector. The W brand's global recognition and appeal to luxury travelers could drive higher room rates and occupancy levels at the former Mandalay Bay tower, potentially boosting MGM's revenue per available room (RevPAR) metrics.

Financial Analyst

The strategic licensing agreement with Marriott International presents significant revenue potential for MGM Resorts. By converting the Mandalay Bay tower to W Las Vegas, MGM gains access to Marriott's premium pricing power and global distribution network. The reciprocal loyalty program benefits should drive increased bookings and higher-value customers across MGM's entire Las Vegas portfolio of 12 destinations.

The partnership's early success, evidenced by hundreds of thousands of new Marriott Bonvoy guests since March, suggests strong potential for revenue synergies. This move aligns with MGM's strategy to enhance its luxury positioning and could lead to improved margins through operational efficiencies and increased cross-property spending from loyalty program members.

Hotel officially joins the MGM Collection with Marriott Bonvoy portfolio, marking the latest step in the long-term strategic licensing agreement between MGM Resorts International and Marriott International

LAS VEGAS, Dec. 18, 2024 /PRNewswire/ -- MGM Resorts International (NYSE: MGM) and Marriott International, Inc. (Nasdaq: MAR) officially mark the debut of W Las Vegas, transitioning the iconic 1,117-suite tower on the Mandalay Bay campus into the globally recognized W Hotels brand. Starting today, Marriott Bonvoy members can book stays and earn and redeem points at this vibrant destination, now part of the MGM Collection with Marriott Bonvoy.

W Las Vegas at Mandalay Bay officially joins the MGM Collection with Marriott Bonvoy portfolio.

 The introduction of W Las Vegas to the MGM Resorts portfolio marks another milestone in the company's long-term strategic licensing agreement with Marriott International, first announced in 2023. This collaboration unites two hospitality leaders, offering Marriott Bonvoy and MGM Rewards members unprecedented access to both companies' collections of resorts, along with elevated experiences and unmatched rewards.

"W Las Vegas represents an exciting new chapter for MGM Resorts and for our guests seeking a new, sophisticated all-suite luxury experience on The Strip," said Travis Lunn, President & COO of Mandalay Bay and Luxor. "W Hotels is a brand that is celebrated globally for their unique style and exceptional service, and we can't wait to see the hotel come to life over the next couple of years, through its distinct personality, dynamic programming and elevated service culture."

Since its launch in March 2024, MGM Collection with Marriott Bonvoy has exceeded expectations welcoming hundreds of thousands of new Marriott Bonvoy guests to all MGM Resorts properties. This collaboration provides over 200 million Marriott Bonvoy members with exclusive benefits and the ability to redeem points at MGM Resorts destinations across the U.S., while MGM Rewards members can status match and enjoy member benefits across Marriott's global portfolio of approximately 9,000 properties.

With the addition of W Las Vegas, MGM Collection with Marriott Bonvoy encompasses 12 destinations on the Las Vegas Strip, including Bellagio, a Luxury Collection Resort & Casino; ARIA Resort & Casino, Autograph Collection; The Cosmopolitan of Las Vegas, Autograph Collection; and Mandalay Bay Resort & Casino, MGM Collection with Marriott Bonvoy, among others.

MGM Rewards members and guests may now make reservations at W Las Vegas via mgmresorts.com and the MGM Rewards app, and Marriott Bonvoy members can book stays via Marriott.com and the Marriott Bonvoy app.

Details surrounding additional enhancements planned for W Las Vegas will be shared at a later date.

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 Las Vegas-inspired brands. The MGM Resorts portfolio encompasses 31 unique hotel and gaming destinations globally, including some of the most recognizable resort brands in the industry. The Company's 50/50 venture, BetMGM, LLC, offers U.S. sports betting and online gaming through market-leading brands, including BetMGM and partypoker, and the Company's subsidiary LeoVegas AB offers sports betting and online gaming through market-leading brands in several jurisdictions throughout Europe. The Company is currently pursuing targeted expansion in Asia through the integrated resort opportunity in Japan. Through its "Focused on What Matters: Embracing Humanity and Protecting the Planet" philosophy, MGM Resorts commits to creating a more sustainable future, while striving to make a bigger difference in the lives of its employees, guests, and in the communities where it operates. The global employees of MGM Resorts are proud of their company for being recognized as one of FORTUNE® Magazine's World's Most Admired Companies®.

ABOUT MARRIOTT INTERNATIONAL
Marriott International, Inc. (Nasdaq: MAR) is based in Bethesda, Maryland, USA, and encompasses a portfolio of approximately 9,000 properties across more than 30 leading brands in 141 countries and territories. Marriott operates and franchises hotels and licenses vacation ownership resorts all around the world. The company offers Marriott Bonvoy^®, its highly awarded travel program. For more information, please visit our website at www.marriott.com. In addition, connect with us on Facebook and @MarriottIntl on X and Instagram. 

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 the United States and the world, the design, timing and costs of conversion or expansion projects, risks relating to domestic and international operations, permits, licenses, financings, approvals and other contingencies in connection with growth in new or existing jurisdictions and additional risks and uncertainties described in the Company's Form 10-K, Form 10-Q and Form 8-K reports (including all amendments to those reports). In providing forward-looking statements, the Company is not undertaking any duty or obligation to update these statements publicly as a result of new information, future events or otherwise, except as required by law. If the Company updates one or more forward-looking statements, no inference should be drawn that it will make additional updates with respect to those other forward-looking statements.

MEDIA CONTACT                                                    

Stacy Hamilton
MGM Resorts International Public Relations
shamilton@mgmresorts.com

 

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SOURCE MGM Resorts International

FAQ

When does W Las Vegas officially open at Mandalay Bay?

W Las Vegas officially debuts on December 18, 2024, at the Mandalay Bay campus.

How many suites does the new W Las Vegas at MGM have?

W Las Vegas features 1,117 suites in its tower at Mandalay Bay.

Can Marriott Bonvoy members earn points at W Las Vegas MGM?

Yes, Marriott Bonvoy members can book stays and earn/redeem points at W Las Vegas starting December 18, 2024.

How many MGM properties are now part of the MGM Collection with Marriott Bonvoy on the Las Vegas Strip?

The MGM Collection with Marriott Bonvoy includes 12 destinations on the Las Vegas Strip, including W Las Vegas.

When was the MGM-Marriott strategic licensing agreement announced?

The strategic licensing agreement between MGM Resorts and Marriott International was first announced in 2023.