Venetian, Hyatt Partnering on Rewards Program

Posted on: December 18, 2024, 06:18h. 

Last updated on: December 18, 2024, 06:18h.

Todd Shriber @etfgodfather Read More
Expertise: Financial, Gaming Business, Mergers and Acquisitions.

The Venetian Resort Las Vegas has a new hotel partner as it was revealed today that the Strip casino resort is teaming up with hotel giant Hyatt on a long-term licensing accord.

The Venetian
An aerial view of The Venetian Resort Las Vegas. The venue is teaming up with Hyatt on a new loyalty-sharing program. (Image: The Venetian)

In the coming months, the Apollo-operated integrated resort will be available for booking on Hyatt’s website and the World of Hyatt mobile application. That puts the iconic gaming venue in front of Hyatt’s rewards program members.

Soon, World of Hyatt members and eligible meeting and event planners will be able to earn and redeem loyalty points on qualifying stays, earn credit toward the Brand Explorer Award and, for World of Hyatt elite members, enjoy additional on-property benefits. With this long-term licensing agreement, Hyatt will offer more choice for rewarding travel experiences and stays in the all-suite resort at the heart of the Las Vegas Strip,” according to a statement issued by the Chicago-based hotelier.

Financial terms of the agreement weren’t revealed nor was an exact start date for the relationship.

Venetian Replacing IHG

News of the Hyatt/Venetian agreement arrived about two months after the gaming venue said its long-running relationship with IHG would come to an end in January 2025.

At the time of that announcement, no reason was provided as to why Venetian and IHG were going their separate ways, but a possibility is that the initial accord was struck when Las Vegas Sands operated the integrated resort, indicating Apollo may have simply wanted to partner with a hotelier of its choosing.

As Marriott International and MGM Resorts International have proven, casino/hotel rewards partnerships can be lucrative, particularly if the companies in question have expansive loyalty programs. With an estimated 40 million members of as of late 2023, World of Hyatt checks that box. Hyatt and Venetian will attempt to leverage that status.

“As part of this long-term licensing agreement, World of Hyatt will, in the future, offer elite Venetian Rewards members benefits within World of Hyatt. Additionally, in the near future, these two hospitality powerhouses will work together in the MICE (meetings, incentives, conferences, and exhibitions) and convention space to also complement each other’s strengths in group business,” according to the press release.

Hyatt Wracking Up Las Vegas Deals

The Hyatt/Venetian announcement arrived less than a month after the Rio Hotel & Casino west of the Las Vegas Strip officially joined World of Hyatt. That deal came after a March announcement, which paved the way for World of Hyatt members to accrue points at the casino resort.

The Rio and Venetian deals are highly relevant to Hyatt because the travel and leisure company’s previous loyalty-sharing arrangement with MGM ended in mid-2023.

In other Las Vegas loyalty program news, the Treasure Island Hotel & Casino earlier this week unveiled its new Treasury Players Club rewards platform which allows bettors to accumulate points for each $1.50 waged on slots and every $4.50 played on video poker. That makes the new program significantly more rewarding than competing plans offered by Caesars and MGM.