Industry Update
Press Release24 March 2014

Diaoyutai MGM Expands Hotel Presence in China

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Diaoyutai MGM

Diaoyutai MGM Hospitality, Ltd. announced today that it has entered into letters of intent with Kingkey Group for major luxury hotels planned for Beijing and Shenzhen. The Beijing hotel will be operated under the Bellagio by MGM brand and will be located in an 81 story Norman Foster tower located in Beijing's central business district at the third ring road. The Shenzhen hotel will be located in a 134-story tower planned for a site overlooking the Shenzhen stock exchange and Kingkey's existing corporate headquarters.

Kingkey's Chairman Chen Hua signed the letters of intent with MGM Resorts International Executive Vice President for Corporate Strategy, Bill Scott, who also serves as the General Manager of Diaoyutai MGM Hospitality. Also attending the ceremony were MGM Resorts' Chairman and CEO, Jim Murren, MGM Resorts President & Chief Marketing Officer, Bill Hornbuckle and Diaoyutai MGM Hospitality Deputy General Manager, Yaning Liu.

Bill Scott said "Our cooperation with Kingkey fuels our expansion of MGM's brands as a part of our growing partnership with Diaoyutai. These landmark projects propel the progress of Diaoyutai MGM, which now has major projects in China's most important cities, Beijing, Shanghai, Shenzhen and Chongqing, as well as open hotels in Sanya and Chengdu." About Diaoyutai MGM Hospitality, Ltd.

About Diaoyutai MGM Hospitality, Ltd.

Diaoyutai MGM Hospitality is a joint venture between Diaoyutai State Guesthouse of China, the highest standard service venue for hosting foreign heads of state, and MGM Resorts International, the top global luxury hotel group. The company is committed to combining the brand advantages of its parent companies to create unique luxury hotels, residences, retail and entertainment experiences. For more information, please visit

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