IHG to cut ties with The Venetian Resort Las Vegas at the end of the year
IHG One Rewards members have a limited time to earn and use points at one of the most popular resorts on the Las Vegas Strip.
IHG Hotels & Resorts is ending its partnership with The Venetian Resort Las Vegas and The Palazzo at The Venetian Resort at the end of 2024. The license agreement, which has been in place for nearly 15 years, affiliated the two properties with IHG's InterContinental Hotels & Resorts brand — meaning it was also a great way for InterContinental Ambassador program members to deploy their complimentary weekend night benefit.
Even though the partnership will be no more in the new year, IHG One Rewards members can still earn points on existing bookings for stays through March 31, 2025. An IHG spokesperson notes the partnership is only ending with Las Vegas properties and that guests can still book other alliance properties at gaming resorts like The Venetian Macao, The Parisian Macao and The Londoner Macao in China.
IHG leaders noted during an earnings call this week that the nixed partnership in Las Vegas means a reduction of 7,092 hotel rooms — or 0.7% of the company's total room count — from IHG's overall network. However, the nature of the partnership means the company is losing a negligible amount of revenue from The Venetian complex in Las Vegas no longer being associated with IHG.
While details are sparse, one can't help but wonder if this presents an opportunity for an IHG competitor like Hyatt to swoop in and become a new partner, especially in light of Marriott's new dominating partnership in Sin City with MGM Resorts, which just this week announced a new W Hotels property slated for the Strip.
IHG leadership doesn't appear to be losing much sleep over the deal winding down.
"The legacy agreement is from 15 years ago, and we (are) a very different company from 15 years ago," IHG CEO Elie Maalouf said on this week's IHG third-quarter earnings call.
The company in the third quarter opened double the amount of new hotel rooms that it did during the same time last year. Further, the company's pipeline of hotel rooms in development around the world is up 12% from last year.
It appears there will be more than enough opportunities to earn and redeem IHG One Rewards points around the world — just maybe not so much on the Las Vegas Strip.
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The Capital One Venture X Business Card has all the Capital One Venture X Rewards Credit Card has to offer and more. It offers an incredible welcome bonus and requires an equally impressive spend to qualify. In addition, the card comes with premium travel perks like annual travel credit. (Partner offer)Pros
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Rewards Rate
| 2X miles | 2 miles per dollar on every purchase |
| 5X miles | 5 miles per dollar on flights and vacation rentals booked through Capital One Business Travel |
| 10X miles | 10 miles per dollar on hotels and rental cars booked through Capital One Business Travel |
Intro Offer
Earn 200K miles when you spend $30K in the first 3 months, and an additional 200K miles when you spend $150K in the first 6 monthsLIMITED-TIME OFFER: Earn up to 400K bonus milesAnnual Fee
$395Recommended Credit
Credit ranges are a variation of FICO® Score 8, one of many types of credit scores lenders may use when considering your credit card application.740-850Excellent
Why We Chose It
The Capital One Venture X Business Card has all the Capital One Venture X Rewards Credit Card has to offer and more. It offers an incredible welcome bonus and requires an equally impressive spend to qualify. In addition, the card comes with premium travel perks like annual travel credit. (Partner offer)Pros
- The Capital One Venture X business card has a very lucrative welcome offer.
- In addition, the card comes with many premium travel perks such as an annual $300 credit for bookings through Capital One Business Travel.
- Business owners are also able to add employee cards for free.
Cons
- The card requires significant spending to earn the welcome offer.
- Another drawback is that the annual travel credit can only be used on bookings made through Capital One Business Travel.
- LIMITED-TIME OFFER: Earn up to 400K bonus miles: 200K miles when you spend $30K in the first 3 months, and an additional 200k miles when you spend $150k in the first 6 months
- Earn unlimited 2X miles on every purchase, everywhere—with no limits or category restrictions
- Earn 10X miles on hotels and rental cars and 5X miles on flights and vacation rentals booked through Capital One Business Travel
- With no preset spending limit, enjoy big purchasing power that adapts so you can spend more and earn more rewards
- Empower your teams to make business purchases while earning rewards on their transactions, with free employee and virtual cards. Plus, automatically sync your transaction data with your accounting software and pay your vendors with ease
- Redeem your miles on flights, hotels and more. Plus, transfer your miles to any of the 15+ travel loyalty programs
- Every year, you'll get 10,000 bonus miles after your account anniversary date. Plus, receive an annual $300 credit for bookings made through Capital One Business Travel
- Receive up to a $120 credit for Global Entry or TSA PreCheck®. Enjoy access to 1,300+ airport lounges worldwide, including Capital One Lounge locations and Priority Pass™ lounges, after enrollment
- Enjoy a $100 experience credit and other premium benefits with every hotel and vacation rental booked from the Premier Collection
- This is a pay-in-full card, so your balance is due in full every month