Capital One Canada Announces New Partnership with IHG

Deal will introduce new opportunities for Canadians to collect Priority Club® Rewards points.

TORONTO, March 22 /CNW/ - Capital One Canada and IHG (InterContinental Hotels Group) announced today that they have reached an agreement to bring a new choice in rewards cards to Canadian consumers.  This deal marks IHG's first and Capital One's third co-branded credit card in Canada.

According to the agreement, Capital One will issue co-branded credit cards which enable future cardholders to earn Priority Club® points on everything they buy. Priority Club Rewards offers members a vast collection of redemption options, including free hotel nights, flight rewards, frequent flyer miles for over 40 airlines worldwide, brand name merchandise and store vouchers. Product details will be made available on Capital One's Web site (www.capitalone.ca) in the second half of 2011.

"Today's announcement aligns with our strategy to partner with respected consumer brands who also believe in offering great customer value," said Simon Maycock, Vice President, Travel Partnerships at Capital One Canada. "As we continue to expand our product and loyalty offerings, we look forward to benefiting consumers by bringing more competition to the Canadian rewards landscape."

IHG has eight hotel brands including: InterContinental® Hotels & Resorts, Crowne Plaza® Hotels & Resorts, Hotel Indigo®, Holiday Inn®, Holiday Inn® Club Vacations, Holiday Inn® Express, Staybridge Suites® and Candlewood Suites® and is the world's largest hotel group with more than 4,400 hotels worldwide and 157 hotels in Canada. IHG's loyalty program, Priority Club Rewards is the world's first and largest with more than 56 million members worldwide.

"We're constantly looking for ways to enhance member benefits of our hotel loyalty rewards program," said Don Berg, Vice President, Loyalty Programs. "With this new branded credit card, our members in Canada will have an opportunity to get to their travel rewards even faster than ever before and we know they'll find significant value in that."

Today's announcement follows Capital One Canada's recent acquisition of the Hudson's Bay Company credit card portfolio, which closed on January 7, 2011, and its partnership agreement with Delta Air Lines, announced on August 24, 2010.

About Capital One  

Located in Toronto, Ontario, Capital One has offered Canadian consumers a range of competitive MasterCard credit cards since 1996, when the company first introduced the Platinum MasterCard in Canada. Capital One Canada is a division of Capital One Bank, a subsidiary of Capital One Financial Corporation of McLean, Virginia (NYSE: COF). 

About Priority Club Rewards
With 56 million members globally, IHG's Priority Club Rewards is the first, largest and fastest-growing guest loyalty program in the hotel industry. Named "Best Hotel Rewards Program in the World" six years running by Global Traveler magazine and "Best Hotel Loyalty Program" for four consecutive years by Business Traveler magazine, Priority Club Rewards offers more sought-after benefits and the greatest ease of use of any hotel loyalty program. In addition to flexible features like No Points Expiration, No Blackout Dates, Points & Cash and Flights Anywhere™, Priority Club Rewards members have more options for point redemption than any other hotel loyalty program. Members can redeem points not only for hotel nights, but also for airline miles on more than 40 partner airlines, for auto rentals, for gift certificates and for hundreds of products available in the Rewards Catalogue. And, Priority Club Rewards is the only hotel loyalty program to offer members a Personal Shopper program that allows members to exchange points for items not found in the Rewards Catalog.

Enrollment in Priority Club Rewards is free. Guests can enrol by logging onto priorityclub.com, by calling 1-888-211-9874 or by inquiring at the front desk of any of IHG's more than 4,400 hotels worldwide.

Notes to Editors:

InterContinental Hotels Group (IHG) [LON:IHG, NYSE:IHG (ADRs)] is the world's largest hotel group by number of rooms. IHG franchises, leases, manages or owns, through various subsidiaries, over 4,400 hotels and more than 640,000 guest rooms in 100 countries and territories around the world. The Group owns a portfolio of well recognized and respected hotel brands including InterContinental® Hotels & Resorts, Hotel Indigo®, Crowne Plaza® Hotels & Resorts, Holiday Inn® Hotels and Resorts, Holiday Inn Express®, Staybridge Suites® and Candlewood Suites® and also manages the world's largest hotel loyalty program, Priority Club® Rewards with 56 million members worldwide.

IHG has almost 1,300 hotels in its development pipeline, which is expected to create 160,000 jobs worldwide over the next few years.

InterContinental Hotels Group PLC is the Group's holding company and is incorporated in Great Britain and registered in England and Wales.

IHG offers information and online reservations for all its hotel brands at www.ihg.com and information for the Priority Club Rewards program at www.priorityclub.com. For our latest news visit www.ihg.com/media, Twitter www.twitter.com/ihgplc or YouTube www.youtube.com/ihgplc.

For further information:

Laurel Ostfield 416-549-2753
laurel.ostfield@capitalone.com