NEW YORK ( TheStreet) -- The hotels and resorts industry is expected to generate revenue of $6.4 billion and profit of $787 million during 2010 to 2011, based on strong domestic and international tourism and recovery in global economic growth.The upturn in economic activity, led by robust movement in household disposable income, business revenue and profit, would rebound tourism and improve occupancy in the hotels and resorts industry. Meanwhile, investment in new hotels and consolidation among operators will increase enterprise and establishment numbers by 0.8% and 1.3% to 1,018 and 1,292, respectively. Besides, the industry's employment and wages are growing by 3.7% and 4.4%, respectively.
8. MGM Resorts International (MGM - Get Report), a holding company, is engaged in providing gaming, hospitality and entertainment services through its wholly owned subsidiaries. The company owns and operates casino resorts that include gaming, hotels, dining, entertainment, retail and other resort amenities. Of the 27 analysts covering the stock, 44% rated a buy and 48% advised a hold. Analysts polled by Bloomberg expect the stock to gain an average 13.5% to $16.10 in the next 12 months. Total revenue for the first quarter of 2011 increased 3.2% to $1.50 billion from the year-ago period. Net loss narrowed to $89.9 million or 18 cents per share, compared to $96.7 million or 22 cents per share in the first quarter of 2010. The revenue per available room (RevPAR) during the quarter increased to $113 from $97 in the same quarter of 2010. Occupancy rate rose to 87% from 85%. The company's non-gaming division, MGM Hospitality, recently announced plans to expand its operations in China by opening 30 hotels over the next three years, in a bid to capture the growing demand for luxury travel. Besides, MGM's initial public offering on the Hong Kong Stock Exchange raised $1.4 billion with the company owning a 51% stake and 29% stake retained by Ms. Pansy Ho, a Hong Kong-based businessperson. MGM Resorts would receive $311 million in net proceeds from Ms. Ho.