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MGM Mirage has made its first forays into hotel management, The Wall Street Journal reports. The casino operating company has signed eight hotel-management deals with developers and is in discussions with 10 more. The properties would operate under the Bellagio and MGM Mirage banners in such countries as China, Egypt, Dubai and Vietnam.
Las Vegas-based MGM Mirage, whose core casino business has been struggling, is entering the hotel management field at a time when the industry is still suffering from the global recession. However, company officials told The Journal they believe the luxury hotel industry in the Middle East and Asia will rebound strongly in coming years.
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