MGM Resorts Sees Gains From New Marriott Loyalty Tie-up [Yahoo! Finance]
MGM Resorts International (MGM)
Last mgm resorts international earnings: 4/30 04:15 pm
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Source: Yahoo! Finance
“The Marriott deal is off to a great start,” said William Hornbuckle, president and CEO, on an earnings call. “We booked approximately 75% above expectations. One of the biggest surprises has been the gain in group business. They do know a lot of people we don't know.” Starting in mid-March, guests at MGM Resorts' properties — which include brands like Bellagio, MGM Grand, ARIA, Mandalay Bay, and Borgata — were able to earn and redeem points in the Marriott Bonvoy loyalty program. The launch of the licensing deal exceeded the executives' expectations in the company's first quarter. More than 130,000 room nights were booked. The company expects this strategic relationship to be a significant growth driver for the year, said Corey Sanders, chief operating officer. MGM Resorts expects to rake in at least $50 million in extra revenue this year by making about 37,000 rooms at 16 U.S. hotels bookable via Marriott International ‘s website and app. MGM Resorts's first quarter MGM
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MGM
Earnings
- 5/1/24 - Beat
MGM
Sec Filings
- 5/3/24 - Form 4
- 5/3/24 - Form 4
- 5/3/24 - Form 4
- MGM's page on the SEC website