Diaoyutai MGM Hospitality, a partnership between MGM Resorts and Chinese hotel company Diaoyutai State Guest House, last month announced that it has reached an agreement with Suning Real Estate Group, a subsidiary of Suning Group, to build the Suning Bellagio Shanghai Bund hotel.
The 200-room hotel will be built on a “prime site” in Shanghai, one of the world’s fastest-growing cities. MGM Resorts said the hotel will have world-class retail and entertainment amenities, and is expected to be completed in 2015.
“This strategic partnership with Suning further extends our reach into China, one of the fastest-growing hospitality markets in the world,” MGM Resorts International CEO Jim Murren said in a statement. “Along with our Diaoyutai JV partners, we believe relationships like this with Suning create new opportunities to expand our brand reach into this strategically vital marketplace.”
Diaoyutai MGM Hospitality is also developing Diaoyutai Hotel Beijing and Lama Temple, a boutique hotel due to open this year. Last spring, the company opened its first hotel, MGM Sanya resort on Hainan Island in China.
While financial details weren’t released, the MGM Resorts strategy is to develop brand-name hotels in non-gaming destinations to spread its casino brand and encourage visits to its Macau casino resort.