Caesars to leverage brands with new hotel division
Caesars Entertainment Corp. has announced development of a luxury nongaming hotel division that will develop brands around the world using the Caesars name and brands owned by the Las Vegas-based company.
The concept is similar to a division started by MGM Resorts International, which is building nongaming luxury hotels in international markets using the company's Strip hotel brands.
In a statement, Caesars said the division will be called Caesars Global Life. Most of the developments under the business unit will revolve around licensing, franchising and management agreements.
The initial venture under the division is a Nobu hotel and restaurant at Caesars Palace with restaurateur Nobu Matsuhisa that was announced in March.
Caesars named Alexander Mirza head of Caesars Hospitality Ventures, which will oversee Caesars Global Life. Mirza, a former partner in Accenture's Travel practice and an executive with Hilton and Starwood, has spent the past year as vice president and executive associate to Caesars Chairman and CEO Gary Loveman.
"Our brands and reputation are our most substantial assets overseas, and this plan will allow us to leverage them into growth opportunities in hospitality and gaming," Loveman said in a statement.
Contact reporter Howard Stutz at hstutz@review
journal.com or 702-477-3871. Follow him on Twitter @howardstutz.
