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IHG Hotels & Resorts® is ending its 15-year relationship with The Venetian Resort Las Vegas and its sister property The Palazzo this December. The loss of these properties leaves only a handful of Holiday Inn locations off the Las Vegas Strip for IHG loyalists.
The loss of these hotels in Las Vegas means IHG will see a reduction of 7,092 hotel rooms (or 0.7% of the company’s total room count). While these hotels will no longer be part of the IC Alliance Resorts, guests can still book rooms and earn points at The Venetian Macao, The Parisian Macao, and The Londoner Macao in China. Existing bookings for stays through March 31st will continue to earn points and provide benefits to IHG One Rewards members.
The Venetian and Palazzo will be without a major hotel partner for the first time in many years. MGM continues to grow its presence in Las Vegas. Marriott and MGM Resorts revealed plans on Monday to bring the W Hotels brand back to Las Vegas as part of the Mandalay Bay campus on the Strip. This is not the first time that the W brand has operated in Las Vegas, but it is the first time that it has aligned with MGM Resorts. The new W Las Vegas will be part of the Mandalay Bay campus with a conversion of the Delano anticipated to begin later this year. Hyatt lost its partnership with MGM Resorts and Wyndham Rewards is tied to the Caesars properties. One has to wonder if Hyatt or Hilton might try to swoop in and partner with The Venetian and Palazzo.
IHG representatives commented:
Although the end of this agreement will remove 7,092 rooms or approximately 0.7 percent from IHG’s overall system size in 2025, the unique nature of the fee structure under this particular licensing agreement means it contributed less than $1 million or 0.1 percent of IHG’s revenue from fee business in 2023 and a net nil contribution to operating profit from reportable segments.”
Anthony’s Take: This change is a loss to IHG One Rewards members, but provides an opening for another hotel giant to sign a deal with these properties.
(Image Credits: The Venetian.)
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2 comments
Hyatt has no presence in Las Vegas, they should try to replace IHG with Venetian.
The first thought would be that Hilton wouldn’t be interested in this property because they already have Resorts World not far away. But Hilton’s involvement with Resorts World is merely a branding arrangement; it’s owned/operated by Genting Group. Maybe Hilton could see synergies of a small “Hilton Ecosystem” on the Strip (not unlike MGM and Caesars do), or they could see it as cannibalizing what they already have.