Iconic luxury resort on the Las Vegas Strip to
join World of Hyatt, expanding Hyatt’s distribution in a key market
that matters to guests and travel planners
Hyatt Hotels Corporation (NYSE: H) and The Venetian Resort Las
Vegas today announced a long-term licensing agreement to make the
iconic luxury property on the Las Vegas Strip bookable through
Hyatt channels, including Hyatt.com and the World of Hyatt mobile
app, in the near future. Soon, World of Hyatt members and eligible
meeting and event planners will be able to earn and redeem loyalty
points on qualifying stays, earn credit toward the Brand Explorer
Award and, for World of Hyatt elite members, enjoy additional
on-property benefits. With this long-term licensing agreement,
Hyatt will offer more choice for rewarding travel experiences and
stays in the all-suite resort at the heart of the Las Vegas
Strip.
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Hyatt Enters Long-Term Licensing
Agreement with The Venetian Resort Las Vegas (Photo: Business
Wire)
“Las Vegas is a perennial favorite for World of Hyatt members
and our group business customers are requesting rooms at a higher
volume than pre-pandemic due to the world-class entertainment and
unique experiences offered by this dynamic destination,” said Mark
Vondrasek, Chief Commercial Officer, Hyatt. “The licensing
agreement with The Venetian Resort Las Vegas adds 7,000 rooms and
2.25 million square feet of meeting space, inviting Hyatt's loyalty
members and valued customers to have even more options to earn and
redeem loyalty points when visiting Las Vegas.”
The Venetian Resort Las Vegas, home to two luxury hotels – The
Venetian and The Palazzo – is the only all-suite resort on the Las
Vegas Strip. Combining the romance of Venice with the vibrant
energy of Las Vegas, this iconic destination offers an experience
that delights all the senses. Whether strolling along picturesque
canals, enjoying a gondola ride, savoring culinary masterpieces
crafted by some of the most celebrated chefs and restaurants on the
Strip or experiencing world-class entertainment, including the
revolutionary Sphere at The Venetian, World of Hyatt members will
soon be able to earn and redeem points at this extraordinary
resort.
"Our legendary resort continues to lead the way on the Strip,
setting the benchmark for innovation, luxury, and unforgettable
guest experiences," said Patrick Nichols, President and Chief
Executive Officer of The Venetian Resort Las Vegas. "From unveiling
reimagined suites and collaborating with world-renowned chefs to
delivering unparalleled entertainment, we have consistently stayed
at the forefront of this ever-evolving destination. As we embrace a
new era for The Venetian Resort, this relationship enables us to
expand our reach and connect with new audiences.”
Following a transformative $1.5 billion reinvestment, The
Venetian’s suites – the largest on the Las Vegas Strip – have been
reimagined with designs inspired by the ornate costumes of the
Venetian Carnival. Guests can drift along the Grand Canal aboard an
iconic gondola, immersing themselves in the romance of Venice,
Italy’s “Floating City.” At The Venetian, the charm of Venice meets
the excitement of Las Vegas, while The Palazzo offers a
contemporary take on luxury with sleek and modern sophistication.
Together, these iconic properties offer an extraordinary getaway,
complemented by award-winning dining from culinary legends like
Wolfgang Puck, Thomas Keller, and Tetsuya Wakuda. A stay at The
Venetian isn’t just a visit – it’s a feast for the senses.
As part of this long-term licensing agreement, World of Hyatt
will, in the future, offer elite Venetian Rewards members benefits
within World of Hyatt. Additionally, in the near future, these two
hospitality powerhouses will work together in the MICE (meetings,
incentives, conferences, and exhibitions) and convention space to
also complement each other’s strengths in group business.
Stay tuned for additional information on when and how The
Venetian Resort will participate in World of Hyatt.
The term “Hyatt” is used in this release for convenience to
refer to Hyatt Hotels Corporation and/or one or more of its
affiliates.
About Hyatt Hotels
Corporation
Hyatt Hotels Corporation, headquartered in Chicago, is a leading
global hospitality company guided by its purpose – to care for
people so they can be their best. As of September 30, 2024, the
Company's portfolio included more than 1,350 hotels and
all-inclusive properties in 79 countries across six continents. The
Company's offering includes brands in the Luxury Portfolio,
including Park Hyatt®, Alila®, Miraval®,
Impression by Secrets, and The Unbound Collection by
Hyatt®; the Lifestyle Portfolio, including Andaz®,
Thompson Hotels®, The Standard®, Dream®
Hotels, The StandardX, Breathless Resorts &
Spas®, JdV by Hyatt®, Bunkhouse® Hotels,
and me and all hotels; the Inclusive Portfolio, including
Zoëtry® Wellness & Spa Resorts, Hyatt
Ziva®, Hyatt Zilara®, Secrets® Resorts &
Spas, Dreams® Resorts & Spas, Hyatt Vivid
Hotels & Resorts, Sunscape® Resorts &
Spas, and Alua Hotels & Resorts®; the Classics
Portfolio, including Grand Hyatt®, Hyatt Regency®,
Destination by Hyatt®, Hyatt Centric®, Hyatt
Vacation Club®, and Hyatt®; and the Essentials
Portfolio, including Caption by Hyatt®, Hyatt Place®,
Hyatt House®, Hyatt Studios, and UrCove.
Subsidiaries of the Company operate the World of Hyatt® loyalty
program, ALG Vacations®, Mr & Mrs Smith, Unlimited Vacation
Club®, Amstar DMC destination management services, and Trisept
Solutions® technology services. For more information, please visit
www.hyatt.com.
About The Venetian Resort Las
Vegas
The Venetian Resort Las Vegas features all-suite accommodations
across The Venetian and The Palazzo. The iconic resort’s experience
is marked by a commitment to sophisticated play and light-hearted
luxury, with world-class restaurants from celebrated chefs
including Cote by Simon Kim, Bazaar Meat by José Andrés, and
Southern California favorite Gjelina; the rejuvenating Canyon Ranch
spa + fitness; a five-acre pool and garden deck inspired by the
Italian Riviera including TAO Beach Dayclub, a Balinese-inspired
tropical oasis; two landmark casinos and a poker room; Voltaire, a
destination nightlife venue that blurs the lines between and
intimate club and is home to the Queen of burlesque, Dita Von
Teese; concert and non-stop entertainment including master
illusionist Shin Lim; TAO Nightclub, and unparalleled retail
experiences at Grand Canal Shoppes.
A premier events and conference center, the resort is home to
more than 2.25 million square feet of meeting, exposition, and
convention space. The Venetian Resort's brand-new loyalty program,
Venetian Rewards, offers resort-wide earning and redemption for
gaming play, including slots and tables, as well as experiential
spend, such as dining, entertainment, hotel reservations, and
more.
The Venetian Resort Las Vegas is the only place fans can get the
full experience of Sphere at The Venetian with concert and hotel
packages including preferred seating. Sphere is a next-generation
venue that will redefine the future of live entertainment.
The Venetian® and other trademarks are used under license. The
names and brands mentioned above are trademarks and/or registered
trademarks of their respective owners.
Forward-Looking Statements
Forward-Looking Statements in this press release, which are not
historical facts, are forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995. Our actual
results, performance or achievements may differ materially from
those expressed or implied by these forward-looking statements. In
some cases, you can identify forward-looking statements by the use
of words such as “may,” “could,” “expect,” “intend,” “plan,”
“seek,” “anticipate,” “believe,” “estimate,” “predict,”
“potential,” “continue,” “likely,” “will,” “would” and variations
of these terms and similar expressions, or the negative of these
terms or similar expressions. Such forward-looking statements are
necessarily based upon estimates and assumptions that, while
considered reasonable by us and our management, are inherently
uncertain. Factors that may cause actual results to differ
materially from current expectations include, but are not limited
to, general economic uncertainty in key global markets and a
worsening of global economic conditions or low levels of economic
growth; the rate and pace of economic recovery following economic
downturns; global supply chain constraints and interruptions,
rising costs of construction-related labor and materials, and
increases in costs due to inflation or other factors that may not
be fully offset by increases in revenues in our business; risks
affecting the luxury, resort, and all-inclusive lodging segments;
levels of spending in business, leisure, and group segments, as
well as consumer confidence; declines in occupancy and average
daily rate; limited visibility with respect to future bookings;
loss of key personnel; domestic and international political and
geopolitical conditions and political or civil unrest or changes in
trade policy; hostilities, or fear of hostilities, including future
terrorist attacks, that affect travel; travel-related accidents;
natural or man-made disasters, weather and climate-related events,
such as earthquakes, tsunamis, tornadoes, hurricanes, droughts,
floods, wildfires, oil spills, nuclear incidents, and global
outbreaks of pandemics or contagious diseases, or fear of such
outbreaks; our ability to successfully achieve certain levels of
operating profits at hotels that have performance tests or
guarantees in favor of our third-party owners; the impact of hotel
renovations and redevelopments; risks associated with our capital
allocation plans, share repurchase program, and dividend payments,
including a reduction in, or elimination or suspension of,
repurchase activity or dividend payments; the seasonal and cyclical
nature of the real estate and hospitality businesses; changes in
distribution arrangements, such as through internet travel
intermediaries; changes in the tastes and preferences of our
customers; relationships with colleagues and labor unions and
changes in labor laws; the financial condition of, and our
relationships with, third-party owners, franchisees, and
hospitality venture partners; the possible inability of third-party
owners, franchisees, or development partners to access the capital
necessary to fund current operations or implement our plans for
growth; risks associated with potential acquisitions and
dispositions and our ability to successfully integrate completed
acquisitions with existing operations; failure to successfully
complete proposed transactions (including the failure to satisfy
closing conditions or obtain required approvals); our ability to
maintain effective internal control over financial reporting and
disclosure controls and procedures; declines in the value of our
real estate assets; unforeseen terminations of our management and
hotel services agreements or franchise agreements; changes in
federal, state, local, or foreign tax law; increases in interest
rates, wages, and other operating costs; foreign exchange rate
fluctuations or currency restructurings; risks associated with the
introduction of new brand concepts, including lack of acceptance of
new brands or innovation; general volatility of the capital markets
and our ability to access such markets; changes in the competitive
environment in our industry, industry consolidation, and the
markets where we operate; our ability to successfully grow the
World of Hyatt loyalty program and Unlimited Vacation Club paid
membership program; cyber incidents and information technology
failures; outcomes of legal or administrative proceedings; and
violations of regulations or laws related to our franchising
business and licensing businesses and our international operations;
and other risks discussed in the Company’s filings with the U.S.
Securities and Exchange Commission (“SEC”), including our annual
report on Form 10-K and our Quarterly Reports on Form 10-Q, which
filings are available from the SEC. These factors are not
necessarily all of the important factors that could cause our
actual results, performance or achievements to differ materially
from those expressed in or implied by any of our forward-looking
statements. We caution you not to place undue reliance on any
forward-looking statements, which are made only as of the date of
this press release. We undertake no obligation to update publicly
any of these forward-looking statements to reflect actual results,
new information or future events, changes in assumptions or changes
in other factors affecting forward-looking statements, except to
the extent required by applicable law. If we update one or more
forward-looking statements, no inference should be drawn that we
will make additional updates with respect to those or other
forward-looking statements.
HHC-FIN
View source
version on businesswire.com: https://www.businesswire.com/news/home/20241218864029/en/
Hyatt Kaitlyn Sheehy kaitlyn.sheehy@hyatt.com
The Venetian Resort Las Vegas Anna Schmid
Anna.Schmid@VenetianLasVegas.com
INVESTOR CONTACT: Adam Rohman Adam.rohman@hyatt.com
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