News in brief: MGM, Hilton, Investment Corp. of Dubai

MGM Resorts unveils special dividend: MGM Resorts International unveiled a special dividend of US$400 million from its CityCenter joint venture that will be split between the casino operator and Dubai World.

Read more at the Wall Street Journal


DoubleTree Kuala Lumpur sold: The Royal Group has entered into a sales-and-purchase agreement to acquire DoubleTree by Hilton Kuala Lumpur for RM388 million (US$105.8 million) from a private real estate fund managed by BlackRock.

Read more at Reuters


Investment Corp. of Dubai buys three hotels: The Investment Corp. of Dubai has acquired stakes in three international hotels for an undisclosed sum: the W Hotel in Washington, D.C., a majority stake in New York’s Mandarin Oriental and a minority stake in the One&Only in Cape Town.

Read more at Gulf News