American Express is bringing Airbnb into its travel rewards platform.
The companies on Thursday announced a new partnership to bring more than 1 million Airbnb listings to Amex's travel portal and allow cardholders to earn rewards when booking the stays. It does not currently allow members to redeem points to pay for Airbnb bookings.
The launch adds Airbnb rentals to Amex's hotel portfolio, which includes more than 3,400 properties across its Fine Hotels + Resorts and The Hotel Collection programs.
Amex members with either the consumer or business Platinum card can also now apply their $600 annual lodging credit — previously called the hotel credit — to Airbnb's higher-end Luxe stays and take advantage of a new $250 statement credit on eligible Airbnb Experiences after making a Luxe booking.
"We're excited to bring more choice and flexibility to American Express Card Members with this exclusive partnership. Both of our companies exist to help people travel more and better, and this partnership helps people see more of the world by making travel more rewarding," said Juan David Borrero, head of partnerships at Airbnb, in a news release.
Membership points vary by card:
- Consumer and Business Platinum Card members earn five times the membership rewards on prepaid Airbnb bookings through Amex Travel.
- Consumer Classic Green Card members earn three times the points on travel bookings made directly through third-party sites, including Airbnb.
- Other eligible rewards members earn two times the points on prepaid Airbnb bookings through Amex Travel.
The changes come as competition among premium credit cards continues to ramp up.
Last year, American Express raised the annual fee on its premium Platinum card to $895. In turn, it's been investing in cardholder perks such as new lounges in airports and at big-ticket events and experiences as a way to attract more high-paying customers.
Earlier this month, it announced an expansion of its Centurion Lounges, with renovations coming to four existing lounges and new ones planned for Newark Liberty International Airport and London Heathrow Airport. The Newark lounge will be the largest in its network.
The partnership also comes as Americans continue to opt for travel and luxury experiences, even as prices for airfare, gas and hotels rise. Despite higher costs, more than half of Americans reported making no changes to their travel plans this summer, a recent study by travel insurance company Squaremouth found.