Personal Finance

MGM Grand to debut in Delhi

R. Balaji | Updated on February 12, 2011 Published on February 12, 2011

MGM Hospitality has signed a definitive agreement to operate its first destination hotel in India, according to a press release. The MGM Grand and Skylofts New Delhi will be part of a dynamic multiple-hotel development in the national capital of Delhi, with convenient access to the business city of Gurgaon, posh South Delhi, the diplomatic enclave, the Central Business District and the new commercial and hospitality district near the New Delhi International Airport. In partnership with Silver Resort Hotel India Pvt Ltd, a company promoted by Blue Coast Hotels Ltd, MGM Hospitality will provide design assistance and operate the luxury hotel facility under the legendary brand of MGM Grand. The new hotel will feature approximately 480 MGM Grand guest rooms, along with a number of exclusive Skylofts brand suites and serviced apartments.

“This announcement is of particular significance as it marks our company's entry into the burgeoning India marketplace,” said Mr Gamal Aziz, President and CEO of MGM Hospitality, in the press release. Groundbreaking on the project is scheduled for March 2011. MGM Grand New Delhi is anticipated to welcome its first guests in early 2014.

MGM Hospitality is a wholly owned subsidiary of MGM Resorts International (NYSE: MGM), that was formed to operate hotels, resorts and residences in key destinations around the world under the brands Bellagio, MGM Grand and Skylofts.

Silver Resort Hotel India Pvt Ltd is promoted by Blue Coast Hotels Limited. The company has acquired 5.03 acres of land from Delhi International Airport Limited (DIAL) in the hospitality district of the Delhi International Airport. The gross built-up area is 7.30 lakh sq. ft. for an upscale luxury hotel with hotel apartments.

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