Marriott International And MGM Resorts International Announce Long-Term License Agreement And Creation Of "MGM Collection With Marriott Bonvoy"
Portfolio Pulse from Happy Mohamed
Marriott International, Inc. (NASDAQ:MAR) and MGM Resorts International (NYSE:MGM) have announced an exclusive long-term strategic licensing agreement and the creation of MGM Collection with Marriott Bonvoy. The collection will launch in October 2023 and will include 17 of MGM's resorts, representing more than 40,000 rooms across the U.S. The agreement also includes a loyalty marketing agreement between Marriott and BetMGM. Members of both companies' loyalty programs will be able to link accounts and receive select benefits.
July 17, 2023 | 12:42 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
The partnership with MGM Resorts and the creation of MGM Collection with Marriott Bonvoy could potentially increase Marriott's global rooms distribution by 2.4 percent and enhance its presence in the U.S.
The partnership with MGM Resorts allows Marriott to expand its portfolio and increase its room distribution. This could potentially attract more customers and increase revenue, positively impacting the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
The partnership with Marriott and the creation of MGM Collection with Marriott Bonvoy could potentially increase MGM's visibility and profitability by offering its resorts on Marriott's robust digital platforms.
The partnership with Marriott allows MGM Resorts to leverage Marriott's robust digital platforms to offer its resorts. This could potentially increase its visibility and profitability, positively impacting the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100