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.
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