Hakkasan Group forms joint venture with MGM Resorts International

15 April 2014 by
Hakkasan Group forms joint venture with MGM Resorts International

London is one of the target cities of a new joint venture hotel management company which has been announced between the Hakkasan Group of restaurants and MGM Resorts International.

The new company, to be named MGM Hakkasan Hospitality, will focus on the design, development and management of luxury non-gaming hotels, resorts and residential properties under the Bellagio, Hakkasan, MGM Grand and Skylofts brands in key international gateway cities such as London, New York and Beverly Hills, as well as prime resort destinations.

The partnership between the two companies began with the opening of the Hakkasan Las Vegas Restaurant and Nightclub at the MGM Grand in April 2013.

All of the hotel and resort projects currently under development by each group will be contributed to the joint venture, including MGM projects in the Americas, the Middle East, and Asia; and Hakkasan projects in Abu Dhabi and Dubai.

Khadem Al Qubaisi, chairman of the Hakkasan Group, which is owned by Tasameem Real Estate, an Abu Dhabi-based investment company, said: "This joint venture exemplifies one of our stated strategies of developing Hakkasan Group into a multifaceted global lifestyle company. It was crucial for us to find the best possible partner that could bring a wealth of experience and skill to the development and operation of branded products, and we believe there is no better choice than MGM Resorts International."

Neil Moffitt, the chief executive of the Hakkasan Group (pictured), will lead the joint venture as chief executive of MGM Hakkasan Hospitality.

Site of Hakkasan's Chrysan restaurant to be sold >>

Hakkasan acquires Las Vegas-based nightlife firm >>

Hakkasan acquires US-based restaurant group EHRGP >>

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