We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Marriott (MAR) Boost Loyalty Offerings With MGM Resorts Tie-Up
Read MoreHide Full Article
Marriott International, Inc. (MAR - Free Report) recently announced a strategic licensing agreement with MGM Resorts International (MGM - Free Report) to offer reciprocal earning and redemption benefits to Marriott Bonvoy and MGM Rewards loyalty program members. The partnership facilitates the development of MGM Collection with Marriott Bonvoy.
Earlier, the companies had collaborated for a franchise agreement regarding the Cosmopolitan Hotel (in Las Vegas) and reported strong performance. With the new alliance, the businesses are hopeful about duplicating the Cosmopolitan's success. The agreement expands Marriott's global room distribution by 2.4% and strengthens its presence on the Las Vegas Strip and in other alluring locations around the United States.
Starting in October, the alliance will facilitate customers to earn and redeem points at 17 MGM resorts and more than 8,500 Marriott Bonvoy's properties. The initiative allows members to book through Marriott's digital platforms and MGM Resorts' channels as well as link their respective loyalty accounts.
The company also announced loyalty marketing agreement with MGM Resorts’ BetMGM. The collaboration paves a path for Marriott Bonvoy members to participate in exclusive games and deals on the BetMGM platform and earn Marriott Bonvoy points on specific BetMGM purchases. Also, it allows BetMGM Rewards members to convert their BetMGM Rewards points into Marriott Bonvoy points. The agreement marks an expansion in benefits for loyalty members of both companies.
Increased Focus on Loyalty Program
MAR is benefiting from robust growth in its loyalty program. With nearly 182 million members globally, the company’s loyalty program Marriott Bonvoy is supporting its marketing strategies. Also, Marriott is engaging its customers with promotional offers such as grocery and retail spending accelerators on its co-branded credit cards.
During fir st-quarter 2023, digital revenues increased 26% year over year. Mobile app users were up 31% year over year, while digital room nights rose 17% year over year. Backed by solid customer acceptance for credit card programs and a rise in credit card average spending, the company anticipates higher contributions from credit card fees in 2023.
Image Source: Zacks Investment Research
In the past three months, the company’s shares have gained 10.1% compared with the industry’s 2.4% growth.
Trip.com Group Limited (TCOM - Free Report) flaunts a Zacks Rank #1 (Strong Buy). The company has a trailing four-quarter earnings surprise of 147.9%, on average. Shares of TCOM have increased 44.4% in the past year. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Trip.com Group’s 2023 sales and earnings per share (EPS) suggest an increase of 101.6% and 531%, respectively, from the year-ago period’s levels.
OneSpaWorld Holdings Limited (OSW - Free Report) carries a Zacks Rank #2. OSW has a trailing four-quarter earnings surprise of 65.8%, on average. Shares of OSW have increased 73.8% in the past year.
The Zacks Consensus Estimate for OSW’s 2023 sales and EPS indicates a rise of 33.9% and 89.3%, respectively, from the year-ago period’s levels.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Shutterstock
Marriott (MAR) Boost Loyalty Offerings With MGM Resorts Tie-Up
Marriott International, Inc. (MAR - Free Report) recently announced a strategic licensing agreement with MGM Resorts International (MGM - Free Report) to offer reciprocal earning and redemption benefits to Marriott Bonvoy and MGM Rewards loyalty program members. The partnership facilitates the development of MGM Collection with Marriott Bonvoy.
Earlier, the companies had collaborated for a franchise agreement regarding the Cosmopolitan Hotel (in Las Vegas) and reported strong performance. With the new alliance, the businesses are hopeful about duplicating the Cosmopolitan's success. The agreement expands Marriott's global room distribution by 2.4% and strengthens its presence on the Las Vegas Strip and in other alluring locations around the United States.
Starting in October, the alliance will facilitate customers to earn and redeem points at 17 MGM resorts and more than 8,500 Marriott Bonvoy's properties. The initiative allows members to book through Marriott's digital platforms and MGM Resorts' channels as well as link their respective loyalty accounts.
The company also announced loyalty marketing agreement with MGM Resorts’ BetMGM. The collaboration paves a path for Marriott Bonvoy members to participate in exclusive games and deals on the BetMGM platform and earn Marriott Bonvoy points on specific BetMGM purchases. Also, it allows BetMGM Rewards members to convert their BetMGM Rewards points into Marriott Bonvoy points. The agreement marks an expansion in benefits for loyalty members of both companies.
Increased Focus on Loyalty Program
MAR is benefiting from robust growth in its loyalty program. With nearly 182 million members globally, the company’s loyalty program Marriott Bonvoy is supporting its marketing strategies. Also, Marriott is engaging its customers with promotional offers such as grocery and retail spending accelerators on its co-branded credit cards.
During fir st-quarter 2023, digital revenues increased 26% year over year. Mobile app users were up 31% year over year, while digital room nights rose 17% year over year. Backed by solid customer acceptance for credit card programs and a rise in credit card average spending, the company anticipates higher contributions from credit card fees in 2023.
Image Source: Zacks Investment Research
In the past three months, the company’s shares have gained 10.1% compared with the industry’s 2.4% growth.
Zacks Rank & Other Key Picks
Marriott currently carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks in the Zacks Consumer Discretionary sector are as follows:
Trip.com Group Limited (TCOM - Free Report) flaunts a Zacks Rank #1 (Strong Buy). The company has a trailing four-quarter earnings surprise of 147.9%, on average. Shares of TCOM have increased 44.4% in the past year. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Trip.com Group’s 2023 sales and earnings per share (EPS) suggest an increase of 101.6% and 531%, respectively, from the year-ago period’s levels.
OneSpaWorld Holdings Limited (OSW - Free Report) carries a Zacks Rank #2. OSW has a trailing four-quarter earnings surprise of 65.8%, on average. Shares of OSW have increased 73.8% in the past year.
The Zacks Consensus Estimate for OSW’s 2023 sales and EPS indicates a rise of 33.9% and 89.3%, respectively, from the year-ago period’s levels.