New strategic relationship between Hyatt Gold Passport and MGM Resorts’ M life expected to be largest loyalty program collaboration in Las Vegas

CHICAGO & LAS VEGAS--(BUSINESS WIRE)--Jun. 5, 2013-- Hyatt Hotels Corporation (NYSE: H) and MGM Resorts International (NYSE: MGM) today announce an unprecedented relationship between their affiliates that will offer substantial benefits to members of their loyalty programs, Hyatt Gold Passport and MGM Resorts’ M life. Starting June 20, Hyatt Gold Passport members will be able to earn and redeem Hyatt Gold Passport points at 12 iconic participating MGM Resorts destinations in Las Vegas, and M life members will be able to earn M life Tier Credits when staying at Hyatt hotels and resorts around the world.

The relationship between Hyatt, with more than 450 hotels and resorts worldwide, and MGM Resorts International, with approximately 40,000 hotel rooms in Las Vegas across 12 participating properties, is expected to be the largest loyalty program collaboration in Las Vegas.

“Our new relationship with MGM Resorts International underscores Hyatt’s focus on listening to guests and developing innovative strategies that set us apart and add value to loyalty program membership,” said Jeff Zidell , senior vice president, Hyatt Gold Passport. “We know The Las Vegas Strip is an important destination for our members, and now they will have the chance to earn points and redeem award nights at 12 outstanding resorts from Bellagio to MGM Grand to Mandalay Bay.”

Beginning June 20, participating MGM Resorts destinations can be booked through Hyatt.com and Hyatt Worldwide Reservation Centers in addition to mlife.com and individual MGM Resorts property websites. Guests with membership in Hyatt Gold Passport and M life will be able to earn both Hyatt Gold Passport points and M life Tier Credits on eligible rates and spend for stays beginning on or after June 20 at participating MGM Resorts destinations.

Bill Hornbuckle , president and chief marketing officer, MGM Resorts International, said, “The new alliance with Hyatt provides M life members with access and added benefits to destinations around the world while exposing our world-class Las Vegas resorts and M life loyalty program to even more savvy travelers. Whether choosing Las Vegas or another part of the world, members’ experiences will be enhanced through this relationship.”

The participating MGM Resorts destinations in Las Vegas are: Bellagio, ARIA, Vdara, MGM Grand, The Signature at MGM Grand, Mandalay Bay, THEhotel at Mandalay Bay, The Mirage, Monte Carlo, New York-New York, Luxor and Excalibur.

Beginning June 20, the relationship will provide Hyatt Gold Passport members and MGM Resorts’ M life members with the benefits outlined below.

Hyatt Gold Passport Benefits

• Hyatt Gold Passport members will receive Hyatt Gold Passport points on every eligible dollar spent at the 12 participating MGM Resorts destinations in Las Vegas. Members will also have the opportunity to earn M life Tier Credits simultaneously at these locations on eligible spend.
• All eligible stays at any of the participating MGM Resorts destinations in Las Vegas will count toward Hyatt Gold Passport tier status.
• Hyatt Gold Passport members will be able to redeem their Hyatt Gold Passport points for award nights at participating MGM Resorts destinations in Las Vegas.
• Coming in August, Hyatt Gold Passport members will be eligible to opt-in to a reciprocal tier status in MGM Resorts’ M life, providing benefits at participating MGM Resorts destinations. Depending on the matched Tier Level, members may receive special room offers and upgrades, pre-sale access to premier concert, show and fight tickets, invitations to members-only events, access to M life Moments – exclusive experiences, and much more.

M life Benefits

• M life members will receive M life Tier Credits for eligible spend when traveling beyond MGM Resorts destinations, in Las Vegas, Detroit and Mississippi, when they stay at Hyatt hotels and resorts worldwide.
• M life members will have the opportunity to experience destinations and cultures across the globe with the authentic hospitality that Hyatt offers while earning M life Tier Credits.
• Coming in August, M life members will be eligible to opt-in to a reciprocal tier status in Hyatt Gold Passport, providing benefits at Hyatt hotels and resorts worldwide. Depending on the matched Tier Level, members may receive complimentary in-room Internet access, guaranteed room availability, late check-out and more during their Hyatt stay.

For more information and frequently asked questions, visit hyatt.com/mlife or mlife.com’s Preferred Partner’s Page. To sign up for Hyatt Gold Passport, visit www.goldpassport.com. To sign up for M life, visit mlife.com.

About MGM Resorts International

MGM Resorts International (NYSE: MGM) is one of the world's leading global hospitality companies, operating a portfolio of destination resort brands including Bellagio, MGM Grand, Mandalay Bay and The Mirage. The Company also owns 51% of MGM China Holdings Limited, which owns the MGM Macau resort and casino and is in the process of developing a gaming resort in Cotai, and 50% of CityCenter in Las Vegas, which features ARIA resort and casino. For more information about MGM Resorts International, visit the Company's website at www.mgmresorts.com.

About Hyatt Hotels Corporation

Hyatt Hotels Corporation, headquartered in Chicago, is a leading global hospitality company with a proud heritage of making guests feel more than welcome. Thousands of members of the Hyatt family strive to make a difference in the lives of the guests they encounter every day by providing authentic hospitality. The Company's subsidiaries manage, franchise, own and develop hotels and resorts under the Hyatt®, Park Hyatt®, Andaz®, Grand Hyatt®, Hyatt Regency®, Hyatt Place® and Hyatt House® brand names and have locations on six continents. Hyatt Residential Group, Inc., a Hyatt Hotels Corporation subsidiary, develops, operates, markets or licenses Hyatt Residences^TM and Hyatt Residence Club^TM. As of March 31, 2013, the Company's worldwide portfolio consisted of 508 properties in 46 countries. For more information, please visit www.hyatt.com.

FORWARD-LOOKING STATEMENTS

Forward-Looking Statements in this press release, which are not historical facts, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include statements about our plans, strategies, occupancy and ADR trends, market share, margin trends, the number of properties we expect to open in the future, our expected adjusted SG&A expense, capital expenditures, depreciation and amortization expense and interest expense estimates, financial performance, expected funding under performance guarantees, prospects or future events and involve known and unknown risks that are difficult to predict. As a result, our actual results, performance or achievements may differ materially from those expressed or implied by these forward-looking statements. In some cases, you can identify forward-looking statements by the use of words such as “may,” “could,” “expect,” “intend,” “plan,” “seek,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue,” “likely,” “will,” “would” and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Such forward-looking statements are necessarily based upon estimates and assumptions that, while considered reasonable by us and our management, are inherently uncertain. Factors that may cause actual results to differ materially from current expectations include, among others, general economic uncertainty in key global markets, the rate and pace of economic recovery following economic downturns; levels of spending in business and leisure segments as well as consumer confidence; declines in occupancy and average daily rate; limited visibility with respect to short and medium-term group bookings; our ability to successfully achieve certain levels of operating profit at hotels that have performance guarantees with our third-party owners; the impact of hotel renovations; our ability to successfully execute and implement our organizational realignment; our ability to successfully execute our common stock repurchase program; loss of key personnel, including as a result of our organizational realignment; hostilities, including future terrorist attacks, or fear of hostilities that affect travel; travel-related accidents; changes in the tastes and preferences of our customers; relationships with associates and labor unions and changes in labor law; the financial condition of, and our relationships with, third-party property owners, franchisees and hospitality venture partners; if our third-party owners, franchisees or development partners are unable to access the capital necessary to fund current operations or implement our plans for growth; risk associated with potential acquisitions and dispositions and the introduction of new brand concepts; changes in the competitive environment in our industry and the markets where we operate; outcomes of legal proceedings; changes in federal, state, local or foreign tax law; foreign exchange rate fluctuations or currency restructurings; general volatility of the capital markets; our ability to access the capital markets; and other risks discussed in the Company’s filings with the U.S. Securities and Exchange Commission, including our Annual Report on Form 10-K, which filings are available from the SEC. We caution you not to place undue reliance on any forward-looking statements, which are made as of the date of this press release. We undertake no obligation to update publicly any of these forward-looking statements to reflect actual results, new information or future events, changes in assumptions or changes in other factors affecting forward-looking statements, except to the extent required by applicable laws. If we update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements.

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Source: Hyatt Hotels Corporation and MGM Resorts International

MEDIA CONTACTS:
Stephanie Sheppard
Hyatt Hotels & Resorts
(312) 780-5399
stephanie.sheppard@hyatt.com
or
Sandy Zanella
MGM Resorts International
(702) 604-4124
zanellas@mgmresorts.com