The Morgans Hotel Group, a boutique hotel company which owned the Hard Rock Hotel for a while and is also the majority stakeholder of the upscale nightlife company The Light Group,  has partnered with MGM Resorts to turn The Hotel at Mandalay Bay into the Delano Las Vegas.

http://www.vegasinc.com/news/2012/aug/06/thehotel-mandalay-bay-will-become-delano-las-vegas/