According to data provided by Research and Markets, the Loyalty Management Market is expected to attain a value of $6.2 billion by 2023 and growing at a CAGR of 18.6% during the forecast period. Loyalty Management is relevant in many industries including BFSI, Travel & Hospitality, Media & Entertainment, Healthcare, Retail, Telecom & IT, Manufacturing, and Others. A report by Deloitte explains the importance of loyalty programs in the Travel & Hospitality industry, as many high-frequency travelers have carried their relationship with a particular brand loyalty program past a tipping point. The report claims that two-thirds of high frequency travelers stay at the same hotel brand for more than half their travel days, regardless of location. Snipp Interactive Inc. (OTC: SNIPF), Marriott International, Inc. (NASDAQ: MAR), Hilton Worldwide Holdings Inc. (NYSE: HLT), Hyatt Hotels Corporation (NYSE: H), InterContinental Hotels Group (NYSE: IHG)

"The loyalty game is a race. Many brands vie for the loyalty of the early-stage, dispassionate customer, but the ultimate prize is typically reserved for one brand alone. Once the customer reaches the tipping point and becomes actively loyal, there is no second place. Consumers who have a conscious favorite among hotel brands will spend extra money and drive extra miles to patronize that brand-even if they don't have rewards to use at the moment… Hotel loyalty programs are not only ubiquitous, but they've also become hard for consumers to distinguish from one another. To hotels, they bring both significant cost and significant potential value," Deloitte explained.

Snipp Interactive Inc. (OTCQB: SNIPF) is also listed on the TSX Venture Exchange under the ticker (TSX-V: SPN). Yesterday the company announced breaking news that, "that it has entered into a 5-year loyalty services agreement with a hospitality company based on a variable pricing model with a guaranteed floor.

Apart from gaining traction in the well-established hospitality space, this Agreement marks Snipp's first foray into a five-year long-term agreement based on a variable pricing model, with a guaranteed floor. This allows the company to enjoy the upside associated with programs that grow their membership over time versus taking fixed fees.

"With the popularity of this particular loyalty program, which is projected to rapidly grow and based on conservative projections provided by our Client, we are optimistic that this agreement will result in a consistent recurring revenue stream for the company estimated to be anywhere between $500,000 and $1,000,000. Given that this is our first entry into a variable pricing model, we have protected ourselves against any possible downside with a guaranteed floor of $400,000," said Atul Sabharwal, Chief Executive Officer at Snipp. "This year we are extremely focused on exploiting opportunities in new industries such as Hospitality and Cannabis, as previously discussed. There is a clear market need in both of these industries for software solutions such as ours that are cost effective, scalable and based on flexible business models."

Marriott International, Inc. (NASDAQ: MAR) is based in Bethesda, Maryland, USA, and encompasses a portfolio of more than 6,500 properties in 30 leading hotel brands spanning 127 countries and territories. Marriott operates and franchises hotels and licenses vacation ownership resorts all around the world. The company also operates award-winning loyalty programs: Marriott Rewards®, which includes The Ritz-Carlton Rewards®, and Starwood Preferred Guest®. Recently, the company announced that it expects to open more than 50 new hotels in India and raise inventory to more than 30,000 rooms over the next few years, thanks to demand for mid-market hotels. Demand is also growing for Marriott's upscale and luxury brands; the company, for instance, currently has three Ritz-Carlton projects under development in Pune, Mumbai and New Delhi.

Hilton Worldwide Holdings Inc. (NYSE: HLT) is a leading global hospitality company, with a portfolio of 14 world-class brands comprising more than 5,200 properties with more than 856,000 rooms in 105 countries and territories. In 2017, Hilton achieved record-setting growth, unveiled industry-leading innovations, and introduced new benefits for guests and Team Members. 2017 was a year of industry firsts, including the launch of Five Feet to Fitness, Hilton Honors loyalty program partnership with Amazon, Tapestry Collection by Hilton, and workplace innovations that received international recognition. It was also the year that Hilton introduced a ground-breaking concept - Connected Room - the first truly mobile-centric hotel room that will let guests personalize and control their stays from the award-winning Hilton Honors smartphone app.

Hyatt Hotels Corporation (NYSE: H), headquartered in Chicago, is a leading global hospitality company with a portfolio of 14 premier brands. Last month, Hyatt and Hui Xian Real Estate Investment Trust jointly announced today an agreement for Hyatt to manage a hotel owned by Hui Xian REIT. Located in Jiefangbei, Chongqing's Central Business District in western China, the hotel is currently under renovation and is expected to be rebranded as a Hyatt hotel in the first quarter of 2019. "We are excited to further expand Hyatt's brand footprint in Chongqing, a city with abundant tourism and economic growth," said Mr. Christopher Koehler, Hyatt's vice president of operations and managing director for China. "The hotel is expected to join the World of Hyatt loyalty program on July 1, 2018 and participate in our extensive network of hotels in more than 50 countries. We are very pleased to collaborate with Hui Xian REIT again, and we look forward to welcoming guests in the heart of Chongqing."

InterContinental Hotels Group (NYSE: IHG) last month announced that it has agreed to acquire a 51% stake in Regent Hotels & Resorts (Regent) for $39 million in cash. IHG will have the right to acquire the remaining 49% interest in a phased manner from 2026. IHG will bring Regent into its brand portfolio at the top end of the luxury segment and will accelerate its growth globally, supported by IHG's powerful enterprise. IHG's intention is to grow the brand from six hotels today to over 40 hotels in key global gateway city and resort locations over the long term. IHG is already a global leader in the luxury segment with the world's largest luxury brand, InterContinental® Hotels & Resorts. The acquisition of Regent is part of one of IHG's new strategic initiatives focused on continuing to expand its footprint in the fast-growing $60 billion luxury segment. This initiative is supported by the creation of a new dedicated division to further enhance our capabilities in this area and will be funded by IHG's efficiency programme, as outlined at our Full Year Results on 20 February.

Subscribe Now! Watch us report LIVE https://www.youtube.com/FinancialBuzzMedia

Follow us on Twitter for real time Financial News Updates: https://twitter.com/financialbuzz

Follow and talk to us on Instagram: https://www.instagram.com/financialbuzz

Facebook Like Us to receive live feeds: https://www.facebook.com/Financialbuzz/

About FinancialBuzz.com

FinancialBuzz.com, a leading financial news informational web portal designed to provide the latest trends in Market News, Investing News, Personal Finance, Politics, Entertainment, in-depth broadcasts on Stock News, Market Analysis and Company Interviews. A pioneer in the financially driven digital space, video production and integration of social media, FinancialBuzz.com creates 100% unique original content. FinancialBuzz.com also provides financial news PR dissemination, branding, marketing and advertising for third parties for corporate news and original content through our unique media platform that includes Newswire Delivery, Digital Advertising, Social Media Relations, Video Production, Broadcasting, and Financial Publications.

Please Note: FinancialBuzz.com is not a financial advisory or advisor, investment advisor or broker-dealer and do not undertake any activities that would require such registration. The information provided on http://www.FinancialBuzz.com (the 'Site') is either original financial news or paid advertisements provided [exclusively] by our affiliates (sponsored content), FinancialBuzz.com, a financial news media and marketing firm enters into media buys or service agreements with the companies which are the subject to the articles posted on the Site or other editorials for advertising such companies. We are not an independent news media provider and therefore do not represent or warrant that the information posted on the Site is accurate, unbiased or complete. FinancialBuzz.com receives fees for producing and presenting high quality and sophisticated content on FinancialBuzz.com along with other financial news PR media services. FinancialBuzz.com does not offer any personal opinions, recommendations or bias commentary as we purely incorporate public market information along with financial and corporate news. FinancialBuzz.com only aggregates or regurgitates financial or corporate news through our unique financial newswire and media platform. For snipp interactive inc. financial news dissemination and PR services, FinancialBuzz.com has been compensated five thousand dollars by the company. Our fees may be either a flat cash sum or negotiated number of securities of the companies featured on this editorial or site, or a combination thereof. The securities are commonly paid in segments, of which a portion is received upon engagement and the balance is paid on or near the conclusion of the engagement. FinancialBuzz.com will always disclose any compensation in securities or cash payments for financial news PR advertising. FinancialBuzz.com does not undertake to update any of the information on the editorial or Site or continue to post information about any companies the information contained herein is not intended to be used as the basis for investment decisions and should not be considered as investment advice or a recommendation. The information contained herein is not an offer or solicitation to buy, hold or sell any security. FinancialBuzz.com, members and affiliates are not responsible for any gains or losses that result from the opinions expressed on this editorial or Site, company profiles, quotations or in other materials or presentations that it publishes electronically or in print. Investors accept full responsibility for any and all of their investment decisions based on their own independent research and evaluation of their own investment goals, risk tolerance, and financial condition. FinancialBuzz.com. By accessing this editorial and website and any pages thereof, you agree to be bound by the Terms of Use and Privacy Policy, as may be amended from time to time. None of the content issued by FinancialBuzz.com constitutes a recommendation for any investor to purchase, hold or sell any particular security, pursue a particular investment strategy or that any security is suitable for any investor. This publication is provided by FinancialBuzz.com. Each investor is solely responsible for determining whether a particular security or investment strategy is suitable based on their objectives, other securities holdings, financial situation needs, and tax status. You agree to consult with your investment advisor, tax and legal consultant before making any investment decisions. We make no representations as to the completeness, accuracy or timeless of the material provided. All materials are subject to change without notice. Information is obtained from sources believed to be reliable, but its accuracy and completeness are not guaranteed. For our full disclaimer, disclosure and Terms of Use, please visit: http://www.financialbuzz.com.

Share this article: