A partnership between two luxury properties on the Las Vegas Strip and one of the largest international hotel brands will conclude at the end of the year.

The Venetian casino-hotel and the Palazzo hotel’s affiliation with InterContinential Hotels Group will end on Jan. 1, 2025, the latter’s executive group said during an earnings call Tuesday. The two sides had originally entered into a 10-year agreement in 2010 that was later amended to a 15-year deal.

The partnership allowed IHG rewards members to take advantage of certain perks or use their points to stay at The Venetian or Palazzo.

“Although the end of this agreement will remove 7,092 rooms or approximately 0.7 percent from IHG’s overall system size in 2025, the unique nature of the fee structure under this particular licensing agreement means it contributed less than $1 million or 0.1 percent of IHG’s revenue from fee business in 2023 and a net nil contribution to operating profit from reportable segments,” IHG representatives said.

Elie Maalouf, chief executive officer of IHG, noted that the “ending of that agreement will have no effect” on the company’s profit and loss figures.

“The legacy agreement is from 15 years ago, and we (are) a very different company from 15 years ago,” Maalouf said Tuesday.

Apollo Global Management, operator of The Venetian Resort Las Vegas and The Palazzo, did not immediately respond to a request for comment.

Several Las Vegas casino operators have licensing and cross-promotional arrangements with major hotel brands. MGM Resorts International and Marriot International are in the first year of their new partnership. Resorts World Las Vegas, a Genting Group property on the Strip, partners with Hilton.

At the moment, it is unclear if the Venetian and Palazzo hotels will partner with another hotel brand.

Apollo purchased the Venetian operations, which includes the Palazzo and The Venetian Expo Center, for $2.25 billion in 2022 from the Las Vegas Sands Corporation. The land and physical assets, such as the buildings, are owned by VICI Properties, a real estate investment trust.

David Danzis can be contacted at ddanzis@reviewjournal.com or (702) 383-0378. Follow AC2Vegas_Danzis on X.