AmEx Outduels Citigroup for Exclusive Rights to Hilton Cards
- Citigroup card chief says deal didn’t make economic sense
- AmEx investors now focused on Marriott co-brand renewal
A Hilton Worldwide Holdings Inc. Grand Vacations Club hotel stands in Las Vegas, Nevada, on Feb. 17, 2016.
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
American Express Co. has struck back against Citigroup Inc., winning exclusive rights to issue credit cards for Hilton Worldwide Holdings Inc. and ending an agreement in which the two banks shared the business.
The arrangement takes effect Jan. 1, Hilton said Thursday in a statement that didn’t disclose terms.