History Of Mgm Grand

On the Morning of November 21, 1980, a fire burned that killed 85 people, and ultimately injured more than 700 others. Typically, it has come to be known that in order for a new law, regulation, and/or ordinance to be put into place, there has to be a previous event that causes death or injury, makes the news, or basically anything that stirs the voices of the public. The 1980 MGM Grand Fire was just that. Most people remember a lot of people died in the fire and that it was the catalyst for Nevada's tough fire codes and retrofit laws that make the state's resorts among the safest places to stay (Morrison). The 1980 fire at

In Bangkok, Thailand, a group of financial investors invested in a hotel called The Regency Grand Hotel. This hotel is the most cherished hotel in town, where the employees and guests enjoy spending time at this five-star hotel. This place hosts approximate 700 employees that give fantastic benefits, year-end bonuses and ensures job security.

2008 brought some problems for MGM. On October 29th of that year, MGM reported a sixty-seven percent plunge in third-quarter earnings, due mostly in part to lagging revenues from its Las Vegas properties. On that same day, MGM decided to halt a five million dollar Atlantic City project which was to be built on land next to Borgata Hotel and Casino. Shortly after this announcement, New Jersey gambling regulators were set to deny MGM's suitability to operate casinos in New Jersey. This was due mainly in part to their partner, Pansy Ho, who New Jersey regulators believed could not operate independently of her father, Stanley Ho. This forced MGM to sell their New Jersey property, Borgata Hotel and Casino, which was a highly profitable piece of business. Finally, at the end of 2008, MGM decided to sell its Las Vegas Treasure Island property. Around the same time, MGM also introduced Jim Murren as their new CEO. Murren was behind many of the major acquisitions that helped transform MGM and had been repeatedly honored as the gaming and lodging industry's top CFO by Institutional Investor magazine. This promotion came at an important time as MGM had fallen on some hard times.

After the El Rancho was established, three more Western Casinos opened for business. In 1941, El Cortez opened as the first large hotel downtown. The hotel Last Frontier opened on the strip in 1942, and in 1946, the Golden Nugget opened downtown. The one big casino to the Western motif was Benjamin Siegel’s The Flamingo which opened in 1946. Siegel was a mobster with ties to the Chicago and California networks, envisioned a “jewel in the desert.” The Flamingo was not a success and was temporarily closed. It then re-opened and had a diverse theme-oriented style in the hotel casino industry in Las Vegas.

On November 21st, 1980 one of the five restaurants on the casino level floor inside the MGM Grand Hotel in Las Vegas Nevada caught fire. Hours later 85 people had perished and over 700 people were injured. The fire report states the fire began in a side wall soffit of a deli style restaurant and the fire department concluded that there were multiple factors involved in the cause of the fire but the origin of the fire was a faulty electrical ground fault ("MGM", 2016).

The Cosmopolitan opened its doors to the public in December of 2010, and continues to open its heart and share its vision with those lucky individuals who choose to stay there. Traditionally, Las Vegas casinos focus on their gaming, using their hotels’ other amenities to draw people in. The Cosmopolitan has chosen a different path, a path that has lead them to numerous awards, and in 2013 was rated “The Best Hotel in the World” by Gogobot. Currently owned by the Blackstone Group, The Cosmopolitan was never meant to be a casino, but a high-end condominium-hotel project. As funding dwindled, a new vison and company took over and transformed these condominiums into a luxurious hotel and resort. The Cosmopolitan is one of Marriott International’s Autograph Collection,

By 1980, more than 23,000 rooms were offered through 55 hotels and resorts located primarily in the U.S. Approximately 70% of company-operated rooms were owned by outside investors and managed by Marriott under agreements averaging 70 years in length. These management agreements contributed approximately $40 million to operating profits in 1979—profits that tended to rise with inflation. Contract Food Service (32% of sales)—Marriott operated almost 300 contract food units, providing a wide range of food service capabilities to a variety of clients. It was the world 's leading supplier of catering services to airlines, with 62 flight kitchens serving domestic and international air travelers. The Food Service Management Division also managed restaurants, cafeterias, conference centers and other facilities for over 200 clients, including business, health care, and educational institutions. Restaurants (25% of sales)—Marriott 's Restaurant Group consisted of 476 company-owned units offering a variety of popularly priced food in 46 states. Roy Rogers fast food restaurants and Big Boy coffee shops accounted for 92% of the total units. Theme Parks and Cruise Ships (8% of sales)—The two Great America theme parks, located in Gurnee, Illinois, between Chicago and, Milwaukee, and in Santa Clara, California, were opened in 1976. Both parks combined a wide variety of thrill and

Kirk Kerkorian was born on June 6, 1917 in Fresno, California, to immigrant parents of Armenian origin. Armenian was his first language and he “didn’t learn the English language until we hit the streets”. Sensing the onset of World War II, and not wanting to join, Kerkorian learned to fly at the Happy Bottom Riding Club in the Mojave Desert. In exchange for flying lessons from pioneer aviator Pancho Barnes, he agreed to milk and look after her cattle. After war having saved most of his wages he made his first visit to Las Vegas. In 1967, he bought 82 acres of land on Paradise Road in Las Vegas and built the International Hotel, which at the time was the largest hotel in the world. After he purchased the Metro-Goldwyn-Mayer movie studio Kerkorian opened the original MGM Grand Hotel and Casino, larger than the Empire State Building and the largest hotel in the world at that time. He also paid $100,000 a month in child

The hotel chain, Astor Lodge and Suites, Inc., operates 250 properties in 10 western and Rocky Mountain states. The company’s customer base primarily comprises business travelers. In addition, the locations of the properties surround airports, large regional shopping centers, and major highways close to suburban industrial sites as well as office complexes. Projections of 2005 fiscal year forecast a fifth consecutive year of a gross loss for the firm. The estimates include an anticipated $422.6 million in company lodging revenues but a net loss of $15.7 million for 2005. As a result, Joseph James, president and CEO of Astor Lodge and Suites, Inc., initiated a challenging goal for executive management to devise a strategy achieving net profits in two years and sustaining positive growth in the future.

The Hotel was owned by “Hotel Holding Company of Hollywood”,building contractor,”Trewhitt Shields Company”,and constructed by the Hollywood Roosevelt Property Corporation(HRPC). The corporation was made up of a local real estate developer,Charles Edward(1880-1981),a impresario.Sid Grauman(1879-1950),a Film Producer,Lou Anger(1878-1979), a Movie Executive Joseph M. Schenck(1878-1961), and silent actors Douglas Fairbanks(1883-1939) and Mary Pickford(1892-1979).The roosevelt properties corporation hired a variety of architects designers and building contractors to construct the hotel. The main architects where H.Raphael Lake,Fisher,and Harrison B.Traver who operated in Fresno and Los Angeles,CA.The partnership

Wynn Resorts Limited is a publicly traded corporation based in Paradise, Nevada that is a developer and operator of high end hotels and casinos. It was formed on October 25, 2002 by former Mirage Resorts Chairmen and CEO Stephen A. Wynn. The target client base for Wynn Resorts are affluent individuals who seek the highest quality—Wynn and its sister property Encore hold more Forbes Five Star awards than any other casino resort in the world. Recently, Steve Wynn has taken his brand global by building in Macau, China. With the opening of the Wynn and Encore Towers, Steve Wynn has proven that upscale gambling can be accomplished outside of Las Vegas. Steve Wynn’s marketing strategy is to emphasize the quality of service

Hilton Hotels Corporation – Hilton was founded in 1946 and headquartered in Beverly Hills, California. It has 2,838 hotels worldwide under the brands Conrad, Doubletree, Embassy Suites etc. HTL operates upscale full-service and limited service hotels in urban, airport, resort and suburban locations. It ranks third in the number of employees (105,000) and revenues ($8.6 billion) but second in net income of $552 million.

MGM Mirage is one of the largest gaming industries in the United States and specifically Las Vegas, Nevada. The two people responsible for the start of this empire are Kirk Kerkorian and Steven Wynn. Kirk Kerkorian opened up the first MGM Grand in Las Vegas, Nevada in 1973. Steven Wynn moved to Las Vegas in 1967 and after investing in land on the strip he later opened up the Mirage, followed by Treasure Island and the Bellagio. The MGM Mirage was created during the merger in 2000, and Steven Wynn is no longer affiliated with this company. Since this merger, MGM Mirage has grown and acquired numerous other properties. Currently MGM Mirage acts as a holding company and conducts operation

Hilton was established nearly 100 years ago in Cisco, Texas (USA) in 1919 by Conrad Hilton and has since continued to grow and remained a leader in the hotel industry. Hilton has expanded its hotel family brand in 1997 by acquiring the Promus Corporation which added the Doubletree, Embassy Suites, Hampton Inn and Homewood Suites (Hilton, n.d.). Hiltons Brand, now either through direct ownership, or franchises is

The report focused particularly on the following hotel chain Hilton Worldwide. Hilton legacy began in 1925, it was founded by Conrad N. Hilton. The first hotel was built in Texas and had 40 rooms; today Hilton is one of the most respected brands in the world. The company owns, manages or franchises a hotel group of some of the most famous and highly regarded hospitality brands worldwide, including Hilton, Conrad Hotels & Resorts, Double Tree by Hilton, Embassy Suites Hotels, Hampton, Hilton Grant Vacations, Homewood Suites by Hilton and the Waldorf Astoria Hotels & Resorts. With 4000 hotels and 650,000 rooms in 90 countries Hilton Worldwide is one of the world’s leading hotel. (Hilton Worldwide, 2013)