MGM Resorts to Expand Asian Portfolio

19th May 2011 (Last Updated May 19th, 2011 18:30)

Las Vegas-based MGM Resorts International is to add 30 new luxury hotels to its China portfolio over the next three to four years. The company's luxury resort unit MGM Hospitality is building 20 hotels in Asia Pacific, with nine in Chinese cities including Shanghai and Ningbo.

Las Vegas-based MGM Resorts International is to add 30 new luxury hotels to its China portfolio over the next three to four years.

The company’s luxury resort unit MGM Hospitality is building 20 hotels in Asia Pacific, with nine in Chinese cities including Shanghai and Ningbo.

MGM Hospitality will open its first hotel in China in Sanya, Hainan Island, in the fourth quarter of 2011.

The company is also expanding its portfolio in Asia with projects in cities including Kuala Lumpur, Singapore and Jakarta, according to Bloomberg.