Marriott International and MGM Resorts International Announce Long-Term License Agreement and Creation of “MGM Collection With Marriott Bonvoy”
Bethesda, Maryland and Las Vegas, Nevada, July 17, 2023 – Marriott International, Inc. (Nasdaq: MAR) and MGM Resorts International (NYSE: MGM) announced today an exclusive long-term strategic licensing agreement and the creation of MGM Collection with Marriott Bonvoy, which will launch in October 2023, and encompass 17 of MGM’s unrivaled resorts, representing more than 40,000 rooms in Las Vegas and other cities across the U.S.
Beginning in October, several MGM Collection with Marriott Bonvoy resorts will be available for booking on Marriott’s robust digital platforms, including Marriott.com and the Marriott Bonvoy mobile app, with all properties expected to be available by the end of the year. These resorts will continue to be available on MGM Resorts’ channels, including MGMRewards.com and the MGM Resorts mobile app.
“This historic, long-term agreement brings together two of the most trusted and iconic brands in hospitality and entertainment,” said Bill Hornbuckle, President and Chief Executive Officer, MGM Resorts. “We’ve seen first-hand the strong demand from Marriott International customers through our existing relationship at The Cosmopolitan of Las Vegas, and this new agreement will enable us to further optimize our overall profitability. We’re thrilled to now scale the relationship and offer Marriott Bonvoy members greater distribution access to our award-winning resorts – as well as exclusive event and entertainment opportunities - in Las Vegas and across the U.S.”
“We are excited to make MGM Resorts’ incredible properties available on Marriott channels, allowing our members to enjoy Marriott Bonvoy benefits when they stay at MGM Collection with Marriott Bonvoy resorts,” said Anthony Capuano, President and Chief Executive Officer, Marriott International. “We look forward to increasing our global rooms distribution by 2.4 percent as we grow our presence on the Las Vegas Strip and in other compelling destinations across the U.S.”
The agreement between MGM Resorts and Marriott will also benefit members of both companies’ loyalty programs. Members of MGM Rewards, MGM Resorts’ acclaimed loyalty platform with more than 40 million members globally, will be eligible to link accounts with Marriott Bonvoy and receive select member benefits. Members of Marriott Bonvoy, Marriott’s award-winning loyalty platform with over 180 million members globally, will be able to earn and redeem points for stays at all MGM Collection with Marriott Bonvoy properties.
Familiar Brands on a New Stage
Of the 17 MGM resorts that will join MGM Collection with Marriott Bonvoy, four properties will also be affiliated with existing Marriott collection brands: Bellagio Resort & Casino will join The Luxury Collection, ARIA Resort & Casino will join Autograph Collection, Park MGM will become part of Tribute Portfolio, and The Cosmopolitan of Las Vegas will continue its affiliation with Autograph Collection.
Eight MGM resorts in Las Vegas will join MGM Collection with Marriott Bonvoy: Vdara Hotel & Spa, MGM Grand Hotel & Casino, NoMad Las Vegas, The Signature at MGM Grand, Mandalay Bay Resort and Casino, New York-New York Hotel & Casino, Luxor Hotel and Casino, and Excalibur Hotel & Casino.
Five MGM Resorts in other U.S. locations will also join MGM Collection with Marriott Bonvoy: Borgata (Atlantic City, New Jersey), Beau Rivage (Biloxi, Mississippi), MGM Grand Detroit (Michigan), MGM National Harbor (Maryland), and MGM Springfield (Massachusetts).
Marriott and MGM Give Loyalty Members Access to a New and Inspiring Level of Experiences
Travelers visit Las Vegas for everything from food and wine to sports, music, gaming, and more. Marriott Bonvoy and MGM Rewards will unlock significant benefits and experiences for members of both programs. Marriott Bonvoy members will enjoy benefits at MGM Collection with Marriott Bonvoy resorts and MGM Rewards members will receive certain benefits at Marriott Bonvoy’s global portfolio of more than 8,500 properties, while members of both programs will also be able to exchange MGM Rewards points for Marriott Bonvoy points and vice versa. Marriott Bonvoy Moments, the program providing members access to unparalleled experiences that fuel personal passions, will be enhanced by MGM’s unmatched culinary, entertainment and sports offerings. More information about linking loyalty accounts, new experiences and other loyalty program benefits will be provided to members of both programs in the coming months.
BetMGM and Marriott Bonvoy Further Enhance Member Benefits
Marriott International has also entered into a loyalty marketing agreement with BetMGM, MGM Resorts International’s online gaming and sports betting joint venture, for Marriott Bonvoy to become BetMGM’s exclusive hospitality loyalty program partner in the U.S. and Canada. Under this agreement, Marriott and BetMGM will collaborate to provide Marriott Bonvoy members opportunities to earn Marriott Bonvoy points on certain BetMGM transactions, and participate in exclusive games, experiences, and offers on the BetMGM platform. In addition, BetMGM Rewards members will have the opportunity to exchange BetMGM Rewards points into Marriott Bonvoy points. More information about the collaboration will be available this fall.
Adam Greenblatt, BetMGM, Chief Executive Officer said, “We couldn’t be more excited to be able to offer Marriott Bonvoy Members and our players another suite of incredible perks only found on BetMGM. Our new agreement with Marriott International will create a truly robust rewards program that connects our players and Marriott guests to the full BetMGM omnichannel experience.”
For more information, please visit https://www.marriott.com/marriott-brands/mgm-collection.mi or https://www.mgmresorts.com/marriott.
Note on forward-looking statements
All statements in this press release are made as of July 17, 2023. Neither Marriott International nor MGM Resorts International (“we” and “our”) undertakes any obligation to publicly update or revise these statements, whether as a result of new information, future events or otherwise. This press release and the virtual press conference held today contain "forward-looking statements" within the meaning of federal securities laws, including statements related to expected arrangements between Marriott International and MGM Resorts International and Marriott International and BetMGM; the expected addition of rooms and units to Marriott’s system; the expected timing of MGM Collection by Marriott Bonvoy resorts being available for booking on Marriott’s platforms; expected arrangements related to distribution channels and loyalty program offerings and benefits; the expected optimization of MGM Resorts International’s profitability; the expected appeal of certain markets and destinations; travel and lodging demand trends and expectations; and similar statements concerning anticipated future events and expectations that are not historical facts. We caution you that these statements are not guarantees of future performance and are subject to numerous evolving risks and uncertainties that we may not be able to accurately predict or assess, including the risk factors that we identify in our Securities and Exchange Commission filings, including our most recent Annual Reports on Form 10-K or Quarterly Reports on Form 10-Q. Any of these factors could cause actual results to differ materially from the expectations we express or imply in this press release or the virtual press conference held today.
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®. For more information, please visit us at www.mgmresorts.com. Please also connect with us @MGMResortsIntl on Twitter as well as Facebook and Instagram.
About Marriott International, Inc.
Marriott International, Inc. (NASDAQ: MAR) is based in Bethesda, Maryland, USA, and encompasses a portfolio of more than 8,500 properties under 31 leading brands spanning 138 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, and for the latest company news, visit www.marriottnewscenter.com. In addition, connect with us on Facebook and @MarriottIntl on Twitter and Instagram.
About BetMGM
BetMGM is a market-leading sports betting and gaming entertainment company, pioneering the online gaming industry. Born out of a partnership between MGM Resorts International (NYSE: MGM) and Entain Plc (LSE: ENT), BetMGM has exclusive access to all of MGM’s U.S. land-based and online sports betting, major tournament poker, and online gaming businesses. Utilizing Entain’s US-licensed, state of the art technology, BetMGM offers sports betting and online gaming via market-leading brands including BetMGM, Borgata Casino, Party Casino and Party Poker. Founded in 2018, BetMGM is headquartered in New Jersey. For more information, visit https://www.betmgminc.com/.
