The deal will allow MGM guests in the US to earn Marriott Bonvoy Rewards Points, which Bonvoy members can use to access 17 MGM properties.
MGM’s 40,000 rooms will increase Marriott’s global portfolio offerings by 2.4%.
The partnership aims to tap into frequent and business travelers who have a strong loyalty to a particular hotel brand in order to earn rewards. These loyalty programs will help drive your business and differentiate you from your competitors as travel continues to recover from the pandemic pause.
“The value is in the quantity and quality of customers,” MGM CEO Bill Hornbuckle told CNBC in an interview Monday.
Bonvoy has over 180 million members. If a member wants to use reward points for a stay on the Las Vegas Strip, his only hotel choice at the moment is Cosmopolitan, which MGM acquired in his 2022.
When the new partnership launches this fall, Bonvoy members will be able to redeem rewards at 12 additional resorts on the Strip and five more MGM Resorts nationwide.
Marriott CEO Tony Capuano said MGM Resorts brings a wealth of intellectual property to its portfolio, as well as entertainment, fine dining options and other unique experiences.
“This is a really exciting opportunity for our members,” Capuano said.
Capuano said last month that the global hotel chain had raised its revenue-per-vacancy forecast based on a 26% increase in group business this year.
The convention business has yet to fully recover from the downturn caused by the COVID-19 pandemic. Still, the conference schedule is jam-packed, and there is optimism that the group’s business, along with an increase in international visitors, could boost earnings.
Las Vegas is one of the top destinations for conventions, conferences and meetings in the United States.
With the Bonvoy program, MGM will: Caesars“The answer is absolutely, unequivocally yes,” Hornbuckle said.
Meanwhile, casinos are facing tougher year-over-year conditions heading into the second half of 2023, and a partnership with Marriott could give MGM a competitive edge in its sports betting business, BetMGM. . entertain.
Customers of MGM sportsbooks can earn Bonvoy points on select transactions, and Bonvoy members can view marketing for MGM sportsbooks on Marriott sites.
In a news release announcing the deal, BetMGM CEO Adam Greenblatt said, “A truly robust experience that connects players and Marriott guests to BetMGM’s complete omnichannel experience. We will build a reward program.
— CNBC’s Dawn Geale, Jessica Golden, and Casey O’Brien contributed to this report.