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IHG ends long-term partnership with The Venetian Resort Las Vegas

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IHG ends long-term partnership with The Venetian Resort Las Vegas
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Christina Ly Credit cards writer | The Points Guy

IHG Hotels & Resorts will conclude its long-standing partnership with The Venetian Resort Las Vegas and The Palazzo at The Venetian Resort by the end of 2024. This decision ends a nearly 15-year affiliation between these properties and IHG's InterContinental Hotels & Resorts brand. Despite the termination, IHG One Rewards members can still earn points on existing bookings for stays until March 31, 2025.

An IHG spokesperson clarified that this change only affects the Las Vegas properties. Guests can continue to book other alliance properties at gaming resorts like The Venetian Macao, The Parisian Macao, and The Londoner Macao in China.

During an earnings call, IHG leaders mentioned that the end of this partnership will result in a reduction of 7,092 hotel rooms from their total network. However, they noted that the financial impact is minimal due to the nature of the agreement.

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Speculation arises about potential new partnerships as competitors like Hyatt might consider stepping in. This follows Marriott's recent announcement of a new W Hotels property with MGM Resorts on the Strip.

IHG CEO Elie Maalouf commented on the development during an earnings call: "The legacy agreement is from 15 years ago, and we (are) a very different company from 15 years ago."

In contrast to this ending partnership, IHG has seen growth elsewhere. In the third quarter, they opened double the number of new hotel rooms compared to last year and reported a 12% increase in their global development pipeline.

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