1202 ET - Marriott International Chief Executive Tony Capuano says the company has been continuing conversations with its hotel owners about its loyalty program. A group of some of the biggest U.S. hotel franchisees wrote a letter to Marriott in March pressuring the company to share more of the wealth from its co-branded credit card program. Capuano tells analysts on a call that he won't give an official public response to the letter, but that "regular constructive discussions" are ongoing. This comes as Marriott has just renewed its co-branded partnerships with American Express and JPMorgan, which are expected to bring an extra boost to revenue.
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