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Marriott And MGM Resorts International On Monday, it announced a partnership to connect its loyalty programs and give customers more options to take advantage of.
Under the deal, MGM guests in the US can earn Marriott Bonvoy Rewards points and Bonvoy members, in turn, will receive 17 MGM properties when they spend their points.
The 40,000 rooms MGM offers will increase Marriott’s global portfolio by 2.4%.
The partnership seeks to take advantage of frequent or business travelers, who can be fiercely loyal to certain hotel brands in an effort to get bonuses. These loyalty programs are driving businesses and helping to differentiate themselves from competitors at a time when travel continues to recover from the pandemic shutdown.
“The value is in the quantity and quality of the customer,” MGM CEO Bill Hornbuckle told CNBC in an interview Monday.
Bonvoy has more than 180 million members. If they want to use their rewards points for stays on the Las Vegas Strip, their only hotel option currently is the Cosmopolitan Hotel, which MGM bought in 2022.
When the new partnership launches this fall, Bonvoy members will be able to redeem their rewards at 12 more resorts in the strip and five more MGM resorts nationwide.
Marriott CEO Tony Capuano said MGM Resorts brings a wealth of intellectual property to the portfolio in addition to entertainment, upscale culinary options and other one-of-a-kind experiences.
“It is really an exciting opportunity for our members,” said Capuano.
Capuano said last month that the global hotel chain raised its revenue per available room forecast based on a 26% increase in group business this year.
The convention business has yet to fully recover from its pandemic lows. However, the conference calendar is packed, and there is optimism that teamwork, along with increased international visits, may push the results even higher.
Las Vegas is one of the top destinations in the United States for conferences, conventions, and meetings.
When asked if the Bonvoy program would give MGM a competitive edge in the syndicated business against competitors such as CaesarHornbuckle said, “The answer is unequivocally yes.”
Meanwhile, casinos face tough year-over-year comparisons in the second half of 2023, and a partnership with Marriott could give MGM a competitive advantage in the sports betting business, BetMGM, which is jointly owned. get.
MGM sportsbook customers will earn Bonvoy Points on certain transactions, and Bonvoy members will see marketing of MGM sportsbooks on the Marriott website.
It will create a “really powerful rewards program that connects our players and Marriott guests to the comprehensive omnichannel BetMGM experience,” said Adam Greenblatt, CEO of BetMGM, in a press release announcing the deal.
— CNBC’s Don Gil, Jessica Golden and Casey O’Brien contributed to this report.
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