MGM Resorts International (NYSE: MGM) announced that it has entered into a definitive agreement to form a joint venture with Blackstone Real Estate Income Trust that values the real estate of Bellagio at $4.25 billion, which represents a purchase price multiple of 17.3x rent.
An increasing fraction of the travel sector, cultural tourism is defined by the search for rich experiences that go beyond beautiful views and adventurous activities. This type of travel has seen an uprising level of popularity in the last years. Globalization has opened up doors towards different and often exotic cultures that are waiting to be explored.
This agreement allows all hotels under the Choice umbrella in the U.S. to take advantage of Global VendorLinks comprehensive national contractor referral service as well as its unique cash rewards platforms.
This time of year is always busy. It is the final quarter of the year, hotels are pushing to meet their goals, and it is mid-month already. This is the perfect opportunity to take a quick look at where you stand on those goals, whether it's purely revenue-oriented, or perhaps it's guest satisfaction. Time to assess and course correct, if needed, to end the month stronger. Lets focus on revenue and specifically, some underutilized ways to drive incremental revenue to your hotel.