Latest news with #MGMResorts
Hospitality Net
20 hours ago
- Business
- Hospitality Net
Hotel Communication Network Acquires Crave Interactive, Cementing Global Leadership in Hotel Guestroom Technology
CHICAGO—June 3, 2025—Hotel Communication Network (HCN), a leading provider of AI-powered in-room guest engagement solutions, announces the acquisition of Crave Interactive, a UK-based innovator specializing in digital guest experiences for luxury hotels. This strategic move positions HCN as a dominant force in the global hospitality technology sector, expanding its reach across the four- and five-star hotel markets. The deal closed today for an undisclosed amount. Crave Interactive, established in 2009, has built a reputation for delivering high-quality in-room tablets and AI-driven guest services, catering to an elite clientele that includes MGM Resorts, Fairmont, and Hyatt. Their platform facilitates seamless guest interactions, from room service orders to spa bookings, enhancing the overall guest experience. HCN's acquisition of Crave Interactive is a calculated step towards integrating complementary technologies and expertise and expanding HCN's growing ad network, which allows hoteliers to acquire the substantial capabilities of this powerful guest engagement platform at greatly reduced rates through HCN's newly introduced ad-subsidized model. HCN is combining can't-miss proactive digital signage with global brand advertising that pleases guests and creates new sources of revenue for hotels. HCN and Crave tablets are set to transform the hotel experience globally with a true AI breakthrough. A multilingual human-looking AI Concierge is introduced to each guest via the tablet, becoming their personal assistant, a helping hand with hotel communication, a city navigator, and an itinerary builder. With ad revenues supporting this innovation, the technology is now within reach of every hotel globally. HCN offers hotels a new level of personalization and service for every guest on a mass scale. This acquisition is more than a merger of technologies; it's a fusion of visions aimed at redefining the guest experience. By combining our strengths, we will deliver unparalleled value to hoteliers and guests alike. Kevin Bidner, CEO of HCN HCN views this acquisition as a significant consolidation in the hospitality tech space. The combined company will have operations and installations in 25 countries with both tablet and mobile applications. With this acquisition, HCN has created a truly global solution for an industry seeking to modernize their in-room services and guest experience strategies. For more information about HCN and its expanded suite of services, visit Barbara Worcester
Condé Nast Traveler
a day ago
- Entertainment
- Condé Nast Traveler
9 Best Family-Friendly Hotels in Las Vegas
When this Lake Como–inspired wonderland opened in 1998, it instantly set the gold standard for the over-the-top Vegas resort experience—and its iconic fountains remain the most enchanting free show in town. While Bellagio could have coasted on spectacle alone, the resort has spent the past few years doubling down on the guest experience. A full renovation of all 2,568 rooms in the main tower—led by The Gettys Group Companies in collaboration with MGM Resorts International Design Group—has brought a new sense of refinement: think natural stone, soft textures, and serene aqua accents inspired by the fountains themselves. In many rooms, oversized showers have replaced dated tubs, lending a spa-like quality to the stay. Though known for its elegance, Bellagio is surprisingly accommodating for families. Beyond the captivating fountains, kids are mesmerized by the ever-changing floral displays in the Bellagio Conservatory, and the hotel's location in the heart of the Strip makes it easy to access family-friendly attractions nearby. Suites and connecting hotel room options offer flexibility for larger groups, and while the restaurants skew upscale, several—like Sadelle's and The Buffet at Bellagio—are ideal for younger palates. With its thoughtful updates and timeless appeal, Bellagio offers families the rare chance to experience classic Vegas glamour without sacrificing comfort, convenience, or a bit of magic
Yahoo
5 days ago
- Business
- Yahoo
3 Reasons MGM is Risky and 1 Stock to Buy Instead
Although the S&P 500 is down 2.2% over the past six months, MGM Resorts's stock price has fallen further to $31.80, losing shareholders 16.9% of their capital. This may have investors wondering how to approach the situation. Is now the time to buy MGM Resorts, or should you be careful about including it in your portfolio? Get the full stock story straight from our expert analysts, it's free. Even with the cheaper entry price, we're swiping left on MGM Resorts for now. Here are three reasons why there are better opportunities than MGM and a stock we'd rather own. A company's long-term sales performance is one signal of its overall quality. Any business can experience short-term success, but top-performing ones enjoy sustained growth for years. Over the last five years, MGM Resorts grew its sales at a sluggish 7.4% compounded annual growth rate. This fell short of our benchmark for the consumer discretionary sector. Forecasted revenues by Wall Street analysts signal a company's potential. Predictions may not always be accurate, but accelerating growth typically boosts valuation multiples and stock prices while slowing growth does the opposite. Over the next 12 months, sell-side analysts expect MGM Resorts's revenue to stall, a deceleration versus its 10.1% annualized growth for the past two years. This projection is underwhelming and suggests its products and services will see some demand headwinds. As long-term investors, the risk we care about most is the permanent loss of capital, which can happen when a company goes bankrupt or raises money from a disadvantaged position. This is separate from short-term stock price volatility, something we are much less bothered by. MGM Resorts's $31.75 billion of debt exceeds the $2.27 billion of cash on its balance sheet. Furthermore, its 12× net-debt-to-EBITDA ratio (based on its EBITDA of $2.37 billion over the last 12 months) shows the company is overleveraged. At this level of debt, incremental borrowing becomes increasingly expensive and credit agencies could downgrade the company's rating if profitability falls. MGM Resorts could also be backed into a corner if the market turns unexpectedly – a situation we seek to avoid as investors in high-quality companies. We hope MGM Resorts can improve its balance sheet and remain cautious until it increases its profitability or pays down its debt. MGM Resorts falls short of our quality standards. After the recent drawdown, the stock trades at 14.2× forward P/E (or $31.80 per share). While this valuation is fair, the upside isn't great compared to the potential downside. There are more exciting stocks to buy at the moment. We'd recommend looking at a dominant Aerospace business that has perfected its M&A strategy. Market indices reached historic highs following Donald Trump's presidential victory in November 2024, but the outlook for 2025 is clouded by new trade policies that could impact business confidence and growth. While this has caused many investors to adopt a "fearful" wait-and-see approach, we're leaning into our best ideas that can grow regardless of the political or macroeconomic climate. Take advantage of Mr. Market by checking out our Top 5 Growth Stocks for this month. This is a curated list of our High Quality stocks that have generated a market-beating return of 183% over the last five years (as of March 31st 2025). Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-small-cap company Exlservice (+354% five-year return). Find your next big winner with StockStory today. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Hospitality Net
13-05-2025
- Business
- Hospitality Net
Ryan Abboushi has been appointed President of Entertainment at MGM Resorts International
MGM Resorts International (NYSE: MGM) announced today that veteran talent agent Ryan Abboushi is joining the company as President of Entertainment. As leader of its entertainment division, Abboushi will oversee MGM Resorts' unified programming and operations strategy to build on and expand its position as a world-class leader in live entertainment and immersive experiences. Abboushi previously spent the last 16 years at the prestigious talent and sports agency, Creative Arts Agency (CAA). While at CAA, he packaged and sold numerous films, television shows and specials, as well as guided the careers of many of the world's most renowned storytellers. In his new role, Abboushi will provide oversight of MGM Resorts' venue utilization, show bookings, talent management and partner relationships. He also will be responsible for building scalable, branded entertainment and content experiences that can extend across MGM Resorts' many destinations. Abboushi began his career at William Morris Agency. He is a graduate of the University of Southern California. His first day with MGM Resorts will be June 16.
Yahoo
10-05-2025
- Business
- Yahoo
Las Vegas Strip restaurant set to close in weeks
LAS VEGAS (KLAS) – A restaurant on the Las Vegas Strip known for its Mediterranean cuisine is set to close at the end of May. Cathedrale at Aria will close permanently after business on Saturday, May 31, according to MGM Resorts International. Cathedrale Las Vegas was envisioned by Executive Chef Jason Hall and featured a bar area, lounge, main dining room, and semi-private dining room, according to the restaurant's website. There are no immediate plans for the space at this time, MGM Resorts International stated on Friday. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
