Hyatt Hotels said Wednesday it had entered into a long-term licensing agreement with The Venetian Resort Las Vegas, allowing the iconic Strip property’s 7,000 rooms to be booked through Hyatt’s website and app and participate in its loyalty program.
The deal marks a significant expansion of Hyatt’s presence in Las Vegas, adding both The Venetian and The Palazzo hotels to its distribution network. It comes as Las Vegas continues to see strong post-pandemic recovery in both leisure and group business travel.
The partnership gives Hyatt members access to one of the Strip’s most distinctive properties, fresh off a $1.5 billion renovation. The Venetian Resort, known for its Venice-inspired architecture and amenities like gondola rides, brings 2.25 million square feet of meeting space into Hyatt’s portfolio — a key asset as Hyatt expands its meeting and events offerings.
Loyalty Perk
Notable: The agreement includes plans to integrate elite status benefits between the World of Hyatt and Venetian Rewards programs, though specific details have yet to be revealed.
The View from Hyatt
Mark Vondrasek, Hyatt’s Chief Commercial Officer, frames the deal as a response to surging demand, noting that group business customers are requesting Las Vegas rooms “at a higher volume than pre-pandemic.” The agreement helps Hyatt meet this demand while expanding earning and redemption options for loyalty members in a crucial market.
The View from The Venetian
For The Venetian, the partnership opens up access to Hyatt’s global customer base and distribution channels. Patrick Nichols, the resort’s CEO, positions it as part of the property’s innovation strategy, saying it will help “expand our reach and connect with new audiences” following their recent billion-dollar renovation.
The View from IHG
The Venetian had been part of IHG’s loyalty program in a similar long-term licensing deal for a couple of decades, but IHG didn’t renew this year. IHG CEO Elli Maalouf said in November in an earnings call that the fee contribution had been relatively minimal.
Accommodations Sector Stock Index Performance Year-to-Date
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