Marriott and MGM Sign Agreement to Launch W Las Vegas

Marriott International, Inc. (Nasdaq: MAR) and MGM Resorts International (NYSE: MGM) announced plans to convert an iconic property on the Las Vegas Strip to the W Hotels brand within the Marriott Bonvoy^® portfolio, continuing the brand's storied evolution. Anticipated to complete its conversion later this year, W Las Vegas marks the latest step in the companies' long-term strategic licensing agreement announced in July 2023.

"Our relationship with Marriott has far exceeded our expectations, demonstrating the power of its brand portfolio and the strength of their distribution channels," said Steve Zanella, President of MGM Resorts Operations. "W Las Vegas, the latest hotel to come to life as part of our collaboration, will allow our guests to access a new luxury lifestyle experience recognized worldwide for its distinct personality, dynamic programming and elevated service culture."

"We're thrilled to continue working with MGM to bring W Las Vegas to the legendary Las Vegas Strip," said Leeny Oberg, Marriott International Chief Financial Officer and EVP, Development. "This agreement is a pivotal moment in our collaboration, which continues to expand hospitality and entertainment offerings for guests. As a luxury brand rooted in bold design and nightlife, W Hotels is well-positioned to elevate experiences for travelers in this destination."

Since MGM Collection with Marriott Bonvoy officially launched in March 2024, bookings are significantly outpacing anticipated projections with hundreds of thousands of room nights booked. This collaboration between two trusted hospitality brands means more than 200 million Marriott Bonvoy members can enjoy unique benefits and redeem points at MGM Resorts' destinations while MGM Rewards members can status match and receive member benefits at Marriott's global portfolio of approximately 9,000 properties.

Located on the Mandalay Bay Campus, the hotel is slated to officially join the W Hotels portfolio later this year, with additional plans for the property to be announced in the future.

With the addition of W Las Vegas, MGM Collection with Marriott Bonvoy will encompass 12 destinations on the Las Vegas Strip, including Bellagio, a Luxury Collection Resort & Casino, ARIA Resort & Casino, Autograph Collection, The Cosmopolitan of Las Vegas, Autograph Collection, and Mandalay Bay Resort & Casino, MGM Collection, among others.

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