More Vegas, More Experiences: Hyatt Enters Long-Term Licensing Agreement with The Venetian Resort Las Vegas

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.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20241218864029/en/

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/