On Wednesday, MasterCard (NYSE:MA) announced that it has signed on with InterContinental Hotels Group (NYSE:IHG) to provide an exclusive co-branded "loyalty" credit card for the hotel management company in the U.S.

In a press release describing the relationship, MasterCard noted that it already runs the co-branded Priority Club World MasterCard for IHG in Canada, but this deal extends the relationship into the U.S., as well.

Commenting on the deal, IHG observed:

MasterCard's global data analytics will enhance our ability to develop our co-branded credit card portfolio further through an insight driven approach. Both of our customer bases will benefit.

IHG operates seven major international hotel brands, including InterContinental Hotels & Resorts, Hotel Indigo, Crowne Plaza Hotels & Resorts, Holiday Inn Hotel & Resorts, Holiday Inn Express, Staybridge Suites and Candlewood Suites. In the U.S., it also boasts Holiday Inn Resort and InterContinental Alliance Resorts.

IHG shares were mostly unaffected by the announcement, gaining a penny, to close at $29.32 today. MasterCard shares fell 0.5%, to end at $516.00.

Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool owns shares of MasterCard. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.