MGM Resorts has a new partner, restaurant/nightclub company Hakkasan Group, for the development and management of luxury nongaming hotels.
Hakkasan Group is owned by Tasameem Real Estate, a subsidiary of sovereign wealth fund Abu Dhabi Investment Authority.
MGM in 2007 formed MGM Hospitality for the purpose of developing MGM Grand, Bellagio and Skylofts hotels around the world. There are several properties in development, but only one has opened, the MGM Grand Sanya on China’s Hainan Island.
All projects under development will be part of the MGM-Hakkasan joint venture, including Hakkasan’s projects in Abu Dhabi and Dubai. Further, the partners intend to “aggressively pursue” development opportunities. MGM and Hakkasan said they are eyeing New York, London and Beverly Hills, Calif.
Hakkasan Group CEO Neil Moffitt will lead the joint venture. MGM Hospitality COO Michael Evans will be COO of the newly formed company.
MGM’s partnership with Hakkasan began with the opening of a Hakkasan restaurant and nightclub at the MGM Grand Las Vegas in April 2013. The partners said they plan to open more Hakkasan establishments in their hotels.
Founded in 2001 in London, Hakkasan Group has several Cantonese restaurants worldwide under the Hakkasan brand. The company’s restaurant brand portfolio also includes Sake no Hana, Searsucker, Herringbone and Social House.
Hakkasan’s nightlife venues include the Pure Nightclub at Caesars Palace and Wet Republic Ultra Pool at the MGM Grand Las Vegas.