CHICAGO (AP) -- Hyatt Hotels Corp. and MGM Resorts International said Wednesday that they reached a deal that will allow members of their respective loyalty programs to earn and redeem rewards at some each other's properties.
Financial terms were not disclosed.
Beginning on June 20, Hyatt Gold Passport members will be able to earn and redeem their passport points at 12 participating MGM Resorts in Las Vegas, while members of MGM's M life members will be able to earn M life tier credits when staying at Hyatt hotels and resorts around the world.
Hyatt has more than 450 hotels and resorts, while MGM offers 40,000 hotel rooms in Las Vegas across 12 participating properties.
Jeff Zidell, senior vice president for Hyatt Gold Passport, said the agreement will add value to his company's loyalty program.
Bill Hornbuckle, MGM's president and chief marketing officer, said the deal gives M life members access to destinations around the world and exposes the company's Las Vegas resorts and loyalty program to more travelers.
Hyatt shares fell 14 cents to $40.41 in morning trading, while MGM shares fell 25 cents to $14.76.