IHG will sever ties with The Venetian Resort Las Vegas at the end of the year
IHG One Rewards members have a limited time to earn and redeem points at one of the most popular resorts on the Las Vegas Strip.
IHG Hotels & Resorts is ending its partnership with The Venetian Resort Las Vegas and The Palazzo at The Venetian Resort at the end of 2024. The license agreement, which ran for nearly 15 years, linked the two properties to IHG’s InterContinental Hotels & Resorts brand – meaning it was also a great way for members of the InterContinental Ambassador program to redeem their weekend night bonus.
Although the relationship will no longer exist in the new year, IHG One Rewards members can still earn points on existing bookings that will last until March 31, 2025. An IHG spokesperson notes that the relationship ends at Las Vegas properties only and that guests can still. book other alliance properties in sports resorts such as The Venetian Macao, The Parisian Macao and The Londoner Macao in China.
IHG leaders noted during an earnings call this week that the nixed partnership in Las Vegas meant a reduction of 7,092 hotel rooms — or 0.7% of the company’s total number of rooms — from IHG’s overall network. However, the nature of the partnership means the company loses a small amount of revenue from the Venetian complex in Las Vegas which is no longer associated with IHG.
While details are scarce, one can’t help but wonder if this presents an opportunity for IHG’s competitor like Hyatt to swoop in and become a new partner, especially given Marriott’s new Sin City-dominant partnership with MGM Resorts, which it is. Last week he announced a new W Hotels location planned for the Strip.
IHG’s leadership doesn’t seem to be losing sleep over the demise of the deal.
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“The legacy deal is from 15 years ago, and (we’re) a very different company than 15 years ago,” IHG CEO Elie Maalouf said on IHG’s third-quarter earnings call this week.
The company in the third quarter opened double the number of new hotel rooms it did in the same period last year. In addition, the company’s pipeline of developing hotel rooms worldwide increased 12% from last year.
It seems like there will be more than enough opportunities to earn and redeem IHG One Rewards points around the world – maybe not so much on the Las Vegas Strip.
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Editorial disclaimer: The opinions expressed here are the author’s alone, not those of any bank, credit card company, airline or hotel, and have not been reviewed, endorsed or approved by any of these organizations.
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