InterContinental Hotels Group PLC (IHG) has entered into new agreements with our current issuing and financial services partners to continue providing co-branded IHG One Rewards credit cards in the US. The new agreements, including that with JPMorgan Chase Bank, N.A. (Chase), are effective immediately and have an initial term running through to 2036.
(Image Source)
IHG® Hotels & ResortsInterContinental Hotels Group PLC (IHG) has entered into new agreements with our current issuing and financial services partners to continue providing co-branded IHG One Rewards credit cards in the US. The new agreements, including that with JPMorgan Chase Bank, N.A. (Chase), are effective immediately and have an initial term running through to 2036.
(Image Source)
Image: IHG Hotels & Resorts
Co-brand credit cards drive further membership and loyalty to our IHG One Rewards programme, deepening guest relationships and delivering more business to our hotels. Co-brand credit card agreements generate ancillary fee streams for IHG, in consideration for: providing the co-brand partners with access to our loyalty programme and customer base, and rights to use our brands; arranging for the provision of future benefits to members who have earned points or free night certificates; and performing marketing services.
Total fees to IHG are expected to significantly increase from the start of the new agreements and to continue growing over the term. This growth will be driven by IHG’s and our partners’ ongoing commitment to expand the overall US co‑brand credit card business, and the number and usage of card accounts. This will also be supported by the growth of IHG One Rewards membership and loyalty penetration, together with the ongoing expansion of IHG’s hotel portfolio. Fees recognised within IHG’s operating profit from reportable segments were $39m in 2023, with these expected to be double that level in 2025 and to more than triple by 2028, and with continued growth anticipated in the years beyond. The balance of fees is recognised within System Fund revenue, and this is also expected to grow meaningfully over the term of the new agreements.
As part of the new agreements, upfront cash inflows totalling $137m, pre-tax, are expected to be received over the coming months as part of IHG’s cash flow, and will be recognised within fee income over the term of the new agreements.
The IHG One Rewards programme is on track to have approximately 145 million members globally by the end of the year, with enrolments to date in 2024 having grown by more than 10% year-on-year. Loyalty members typically spend approximately 20% more in IHG hotels than non‑members and are around ten times more likely to book through IHG direct channels. In the first half of 2024, Reward Night redemptions grew by around 15% year‑on-year, demonstrating strong member engagement and driving increased returns for our hotel owners. Loyalty penetration has also significantly increased, with members now responsible for over 60% of room nights globally in 2024 and approaching 70% in the Americas, each up more than 10%pts on the penetration rates prior to the 2022 refresh of the programme.
IHG One Rewards co-brand credit card holders stay even more frequently and spend more in IHG hotels. In 2023, following the update of US card products alongside the relaunch of the loyalty programme in the prior year, new card accounts reached record levels and we saw double-digit percentage growth in total card spend. This has continued in 2024, such that compared to pre relaunch levels two years earlier, new accounts are up by over 60% and total card spend is around 30% higher.
Our new agreements build on IHG’s strong track record of driving growth and shareholder returns. In February 2024, IHG set out a clear framework for future value creation over the medium to long term. As part of this, we aim to grow ancillary products and fee streams, including those from co-brand credit cards. The expansion of ancillary fee streams creates further value in addition to IHG targeting delivering 100-150bps annual improvement in fee margin from operational leverage. This is already being achieved in 2024, with fee revenue growth and margin improvement from loyalty point sales to consumers that is now being reported within results from reportable segments, and is followed by today’s announcement.
Elie Maalouf, Chief Executive Officer, IHG Hotels & Resorts, commented: “We are delighted to continue our partnerships to provide co-brand credit cards in the US. Following a detailed review of the opportunities to grow this important ancillary fee stream, the new agreements will create more opportunities for customers to engage with IHG and our award-winning loyalty programme, further strengthen IHG’s enterprise and the System Fund for the benefit of our hotel owners, and will drive significant shareholder value. We look forward to continuing a close working relationship with our partners to mutually benefit from the growth of the co-brand programme in the US, and we continue to assess the potential for co-brand credit cards in other markets.”
Source: IHG Hotels & Resorts
Disclaimer: Press release
© Press Release 2025
Send us your press releases to news@globalloyalty.org
Press releases originate from external third-party providers. This website does not have responsibility or control over its content, which is presented as is, without any alterations. Neither this website nor its affiliates guarantee the accuracy of the views or opinions expressed in the press release.
The press release is intended solely for informational purposes and does not offer tax, legal, or investment advice, nor does it express any opinion regarding the suitability, value, or profitability of specific securities, portfolios, or investment strategies. Neither this website nor its affiliates are liable for any errors or inaccuracies in the content, nor for any actions taken based on it. By using the information provided in this article, you agree to do so at your own risk.
To the maximum extent permitted by applicable law, this website, its parent company, subsidiaries, affiliates, shareholders, directors, officers, employees, agents, advertisers, content providers, and licensors shall not be liable to you for any direct, indirect, consequential, special, incidental, punitive, or exemplary damages, including but not limited to lost profits, savings, and revenues, whether in negligence, tort, contract, or any other theory of liability, even if the possibility of such damages was known or foreseeable.
The images used in press releases and articles provided by 3rd party sources belong to the respective source provider and are used for illustrative purposes in accordance with the original press releases and publications.
Disclaimer: Content
While we strive to maintain accurate and up-to-date content, Global Loyalty Organisation Ltd. makes no representations or warranties of any kind, express or implied, about the correctness accuracy, completeness, adequacy, or reliability of the information or the results derived from its use, not that the content will meet your requirements or expectations. The content is provided “as is” and “as available”. You agree that your use of the content is at your own risk. Global Loyalty Organisation Ltd. disclaims all warranties related to the content, including implied warranties of merchantability, fitness for a particular purpose, non-infringement, and title, and is not liable for a particular purpose, non-infringement, and title, and is not liable for any interruptions. Some jurisdictions do not allow the exclusion of certain warranties, so these jurisdictions may not apply to you. Global Loyalty Organisation Ltd. Reserves the right to modify, interrupt, or discontinue the content without notice and is not liable for doing so.
Global Loyalty Organisation Ltd. shall not be liable for any damages, including special, indirect, consequential, or incidental damages, or damages for lost profits, revenue, or use, arising out of or related to the content, whether in contract, negligence, tort, statute, equity, law, or otherwise, even if advised of such damages. Some jurisdictions do not allow limitations on liability for incidental or consequential damages, so this limitation may not apply to you. These disclaimers and limitations apply to Global Loyalty Organisation Ltd. and its parent, affiliates, related companies, contractors, sponsors, and their respective directors, officers, members, employees, agents, content providers, licensors, and advisors.
The content and its compilation, created by Global Loyalty Organisation Ltd, are the property of Global Loyalty Organisation Ltd. and cannot be reproduced without prior written permission.
