MasterCard Expands Strategic Alliance with Hotel Company IHG into the U.S.
MasterCard (NYSE: MA) today announced a new multi-year U.S. agreement with IHG (InterContinental Hotels Group) (LON: IHG; NYSE: IHG (ADRs)) naming MasterCard as the exclusive co-branded card for IHG's hotel loyalty rewards consumer credit card portfolio. The deal also includes a broad range of marketing, loyalty and innovation initiatives.
“By expanding our relationship with IHG into the U.S. market, MasterCard is growing our base in both consumer credit and the hotel industry -- two areas of strategic importance,” said Craig Vosburg, group executive of U.S. Market Development for MasterCard. “The alliance gives us many opportunities to work together to expand new and existing portfolios through enhanced data capabilities and joint marketing opportunities.”
The new deal further strengthens the relationship between IHG and MasterCard that includes a successful Priority Club World MasterCard co-branded card program in Canada.
“We are delighted to see our industry-leading, strong global brands come together to serve guests in the important U.S. hotel market and deliver even higher quality service to new and existing Priority Club® Rewards member cardholders. MasterCard's global data analytics will enhance our ability to develop our co-branded credit card portfolio further through an insight driven approach. Both of our customer bases will benefit from the innovative global marketing and enhanced loyalty campaigns that we will work to develop,” said Steven Sickel, senior vice president, Distribution Relationship Marketing, IHG.
The two companies will look for ways to join forces on each other's global marketing platforms:
IHG's Priority Club® Rewards is the hotel industry's fastest growing and largest guest loyalty program, reaching more than 4,500 hotels across seven global IHG brands, including InterContinental® Hotels & Resorts, Hotel Indigo®, Crowne Plaza® Hotels & Resorts, Holiday Inn® Hotel & Resorts, Holiday Inn Express®, Staybridge Suites® and Candlewood Suites® as well as the Holiday Inn Resort® and InterContinental® Alliance Resorts brands in North America. The MasterCard Priceless Cities program offers cardholders extraordinary experiences, exclusive offers and privileged access in the world's greatest cities. Visitors and locals can explore what's most meaningful to them from culinary, shopping and sports to travel and entertainment. Priceless Cities has been launched in four U.S. cities -- Chicago, New York, Los Angeles and Miami -- and extends globally to London, Toronto and Rio, among other metropolitan areas.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.