Monday, Oct. 25, 2010 | 4:38 p.m.
Las Vegas Sands Corp. today announced a 10-year co-marketing deal with InterContinental Hotels Group PLC (IHG) that will affiliate the Venetian and Palazzo resort complex on the Las Vegas Strip with IHG's InterContinental brand.
The arrangement provides an upscale offering in Las Vegas for customers of InterContinental, which has no InterContinental luxury branded-properties in Las Vegas. On its online hotel directory Monday, InterContinental listed just three brands in Las Vegas: Holiday Inn, Candlewood Suites and Staybridge Suites.
Terms were not immediately disclosed.
Las Vegas Sands CEO and Chairman Sheldon Adelson said in a statement that having the ability to reach IHG's 180 million annual guests, particularly its database of 52 million IHG Priority Club members, is an "extraordinary" opportunity for the company's two Las Vegas properties to attract millions of new customers.
"Over the years the InterContinental brand has been a beacon for millions of world travelers and with this unprecedented agreement, the Venetian and Palazzo will now become their home when they visit the Las Vegas Strip," Adelson said in the statement. "We are extremely happy to have reached this agreement with our friends at IHG and we look forward to our new guests occupying our all-suite rooms in the very near future."
"This alliance has incredible upside for our Las Vegas properties. With 4,500 hotels in more than 100 countries, international sales offices and a global sales force of more than 8,000 people, access to a large network of travel agents, wholesale operators and online travel agencies, IHG's global connectivity will put us in touch with a huge amount of potential new customers," added Michael Leven, president and chief operating officer of Las Vegas Sands.
Leven said he expects the new alliance to help drive higher average daily rates and occupancy for both properties over time and lead to the booking of substantial new group business.
He said both properties will maintain their established brand identities.
Guests at the Venetian and the Palazzo will be able to earn points and redeem them for stays at any of IHG's 4,500 hotels worldwide, while IHG's Priority Club Rewards and Ambassador members will be able to use their own points for stays at both resorts.
"This alliance with Las Vegas Sands Corp. and IHG's InterContinental brand creates a shared opportunity to give our guests access to leading luxury resorts in Las Vegas," Jim Abrahamson, president, the Americas, IHG, said in a statement. "Las Vegas is the most requested destination for our Priority Club Rewards and Ambassador members, and these resorts epitomize the glamour of Las Vegas and provide world-class experiences that perfectly fit with what our guests want from InterContinental Hotels and Resorts."