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 ResidencesTM
and Hyatt Residence ClubTM. 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.
Photos/Multimedia Gallery Available: http://www.businesswire.com/multimedia/home/20130605005461/en/
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