HANGZHOU, China, Nov. 7, 2016 /PRNewswire/ -- Diaoyutai State Guesthouse and MGM Resorts International (NYSE: MGM) today announced the opening of the Diaoyutai Hotel Hangzhou by their joint venture, Diaoyutai MGM Hospitality. The Diaoyutai Hotel Hangzhou is a 162-room luxury hotel owned by Oceanwide Holdings Co., Ltd., the prominent Chinese enterprise. The grand opening ceremony for the Hotel was attended by Ambassador Zhang Junsai, Director General of Diaoyutai State Guesthouse; Jim Murren, Chairman and CEO of MGM Resorts International; Bill Hornbuckle, President of MGM Resorts International and Bill Scott, who is Executive Director and General Manager of Diaoyutai MGM Hospitality. Ambassador Zhang said, "We are very pleased to announce the opening of the Diaoyutai Hotel Hangzhou, which adds to our cooperation with MGM Resorts. We are excited about both the Hotel and the growth of Diaoyutai MGM." Jim Murren said, "We are thrilled to participate in the Diaoyutai Hangzhou, and we look forward to opening the Bellagio by MGM Shanghai and Diaoyutai Frankfurt through Diaoyutai MGM next year. The joint venture shows great promise and reflects our strong relationship." Bill Scott said, "Diaoyutai MGM is committed to building high quality, luxury international hotels and residences under all of our brands, and we believe that the Diaoyutai Hotel Hangzhou is an important achievement that will help us grow our Company." Diaoyutai MGM Hospitality is a unique joint venture between Diaoyutai State Guesthouse of China, the Chinese Government's highest standard service venue for hosting foreign heads of state visiting China, and MGM Resorts International, the top global luxury hotel group. The Company is committed to combining the brand advantages of its parent companies to create unique luxury hotel, residence, retail and entertainment experiences. Our mission is to create innovative and welcoming experiences for our customers and guests.