Mgm Resorts International : Business Model, Assets And Partnerships

MGM Resorts International was incorporated in Delaware on January 29, 1986 as MGM Grand, Incorporated, a subsidiary of Kirk

The city of Las Vegas is considered to be one of the best entertainment locations in the world. Only in Vegas can you find top notch travel amenities and luxurious resorts, accompanied by world class dining and entertainment. Recognized throughout the world, the Las Vegas Strip is the iconic image of dreams and possibilities dependent only on Lady Luck. Not all winning takes place on the craps tables or slot machines. Las Vegas continues to reinvent itself, seeking better and more glamorous ways to enrich the visitors’ experience and score a win for the travel industry. It is this reinvention, this type of guest winning that brings me to discuss and explore the success of The Cosmopolitan of Las Vegas.

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

The casinos at these resorts are crowded daily with adults who share the love and excitement of gambling responsibly. Guest at the hotels and resorts can also enjoy other options for entertainment like spas, shows, concerts, and dining. Guest can also enjoy playing a variety of free casino themed social games which is used for advertising the products and services at the casinos. Today the company is focused on building valuable relationships with their loyal customers to regain market share and boost competitiveness and profitability.

--Company performs its own employment screenings, independent of the registration process. The intent is to check background and to avoid hiring people involved in crime, violations. --Licensing of casino personnel so this will ensure that the right person is employed and those who fails the registration process is not employed by casino company. --Training and retaining well qualified employees to ensure that the right type of people is employed: Company provides extensive further training to employees to standardize its activities. Cultural controls (exist to shape organizational behavioral norms and to encourage employees to monitor and influence each other's behaviors): --Controls were legally mandated because the gaming industry is highly regulated. Companies have to maintaining its licenses and paying gaming taxes to be allowed to continue operations. --Company is operating in highly competitive environments and competing against other companies. They were required by regulations to report suspicious activities related to money laundering and report any cash transaction in excess of $10,000. Results controls (Policies and procedures that help ensure management directives are carried out to achieve the desired result. It involves rewarding individuals for generating good

There are definitely some perishables things that the MGM Grand Hotel offers. As I had mentioned above, in the nine categories one of them is the offer from the hotel. There are some different packages for the visitors to decide which type of package suit their trip better. For example, they have a lot of package, such as getaways most of them includes the hotel rooms, and there are some other packages such as show package, or golf packages as well. These packages also include a lot of information or descriptions that guests would like to know before they book the packages. However, these packages do not last long. Some of them are only for weekends, some of them are for seasonal, and some of them are only for national holidays which are

Since its foundation in 1927 Marriott Corporation grew into one of the leading lodging and food services in the US. With three major business lines: lodging, contract services and related business, Marriott has the intention to remain a premier growth company. To achieve this goal the corporation’s strategy is to develop aggressively appropriate opportunities within their business lines. Marriott would like to be the preferred employer, the preferred provider and the most profitable company in each of the operating areas. The financial strategy includes four key elements:

Wynn Resorts, led by the romantic and visionary leader Steve Wynn, is a leader in the gaming and casinos industry. Following its mission statement of, “A commitment to providing an elegant environment, high-quality amenities, a superior level of service and distinctive attractions for our customers,” the company is well known for its luxury and excellence. Some major competitors in the Industry are MGM Mirage and Trump Entertainment Resorts. Fortune Magazine said that ”Wynn, which also led casino resort operators in 2009, ranked second in the hotel, casino and resort category for innovation and number 3 for people management, quality of management and quality of its products and services.” Wynn Resorts management strategy is that of focused differentiation. They create products and services that are unique and valued in which customers will pay a premium and they focus on an upper class segment. The company does well in management or in parenting, by using the experience of the corporate office and the support of the corporate office. Wynn Resorts does an excellent job in branding and is a big part of the company’s core competencies.

Parks and Resorts: The company owns and operates Parks and Resorts of various types, through various business models across the world - such as the Walt Disney World Resort in Florida; a Disney

Marriott International envisions itself to be the world’s lodging leader. Its mission is to provide the best possible lodging services experience to customers who vary in backgrounds, language, tradition, religion and cultures all around the world. Marriot is committed to environmental preservation through using environment-friendly technology and engages in social responsibility and community engagement.  We value our shareholder’s so we will only take steps that will ensure our growth. Most importantly, through our “spirit to serve”, we emphasize the importance of Marriott’s people and recognize the value they bring to the organization’s growth and success. It aims to increase revenues by 9% every year, to increase

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

The Walt Disney Company Parks and Resorts strive to be the leader in innovative and creative family entertainment in the world. The mission of The Walt Disney Company Parks and Resorts is to provide “magical” experiences to all guests that visit our Parks and Resorts. We use technology, innovation, and imagination to create a unique entertainment experience comparable to nothing else.

Wynn Resorts Limited (Wynn) is high-end developer and operator of resort-style casinos. Wynn offers hotel rooms and suites, gambling, fine-dining, spas, and boutiques. Founded in 2002 by American business magnate Steve Wynn, the company currently has two locations in Las Vegas, Nevada and two locations Macau, China. In 2016, Wynn plans to open Wynn Palace, a 1,700 room hotel and casino in Macau. The company is publicly traded on the NASDAQ Global Select Market under the ticker symbol WYNN.

Marriott International within their respective market segments are one of the largest hotel groups globally.

There are several organizations that have competitive advantages in the industry. However, one familiar organization that has maintained its competitive advantage in its industry is the Ritz-Carlton hotel. Founded in 1983 and headquartered in Chevy Chase, Maryland, United States of America, Ritz-Carlton is regarded as one of the best in the hotel industry and has received several accolades for great customer services (Ritz-Carlton Hotels & Resorts, n.d.). Nevertheless, to fully understand its competitive advantage in the industry, it is essential to analyze its modus operandi. The Ritz-Carlton hotel management understands the value of employees; so ultimately investing in