Marriott International and Rappi, Inc., the multilateral technology company, signed an unprecedented agreement. The partnership seeks to enhance the travel experience for Marriott Bonvoy members and Rappi users while also providing more opportunities for earning rewards daily.
A new opportunity is arising for Marriott Bonvoy members as they will soon have the option to connect their Rappi and Marriott Bonvoy accounts. This connection will provide members with exclusive benefits, such as the ability to earn Bonvoy Points for qualifying Rappi purchases.
Additionally, Rappi Prime users will receive extra benefits. This exceptional collaboration between a global hotel company and a Latin American technology company is unprecedented and demonstrates Marriott International's dedication to innovative and technology-driven partnerships that cater to the changing desires of its guests.
"Our dedication to improving the travel experience of our Marriott Bonvoy members, from the moment they book to the time they check out, remains unwavering as the foremost hotel company in the Caribbean and Latin America. By collaborating with one of the most forward-thinking startups, we can fulfill our commitment of offering more earning opportunities for our members and also introduce our award-winning travel program to Rappi users who may not yet be familiar with it," said Diana Plazas-Trowbridge, The top executive responsible for sales and marketing at Marriott International in the Caribbean and Latin America.
Marriott International's successful travel program and marketplace, Marriott Bonvoy, boasts a user base of over 5.8 million in the Caribbean and Latin America. By partnering with Rappi, Marriott International will expand its reach to over 30 million users in nine Latin American countries, including Argentina, Brazil, Chile, Colombia, Costa Rica, Ecuador, Mexico, Peru, and Uruguay.
Guido Becher, Global Head of Rappi Travel, stated that the collaboration with Marriott Bonvoy is a significant step in solidifying its position as a top multi-vertical technology enterprise in Latin America. He emphasized that this partnership guarantees the finest deals and travel experience when booking through Rappi, further enhancing the value of their Prime subscription program as the most exceptional in the region.
Being a leading digital services provider in Latin America, Rappi has gained immense popularity and trust in a short period. It offers inventive solutions to fulfill unaddressed requirements by seamlessly connecting users, commerce, and courier services in a robust digital ecosystem.
Rappi provides a range of services including delivery of restaurant meals, groceries, and pharmacy items, as well as courier, e-commerce, and travel services. Additionally, they offer a Prime subscription service which includes free delivery and other perks. Rappi's headquarters are located in Bogota, Colombia, and they currently operate in over 350 cities across nine Latin American countries.
Also, recall that it was recently reported that Marriott International's shares have risen by 5.8% in the last six months, which is higher than the industry's 3.5% increase. Earnings estimates for fiscal 2023 have also increased to $8.39 per share from $7.77 in the last 30 days. Currently, Marriott International has a Zacks Rank #2 (Buy).
Other recommended stocks from the Zacks Consumer Discretionary sector include Royal Caribbean Cruises (Zacks Rank #1), Bluegreen Vacations (Zacks Rank #1), and The Madison Square Garden Company (Zacks Rank #1).