The partnership with Hilton is a major step in Peloton's quest to reverse struggles that have included a downturn in sales of its signature products. For Hilton, it's the chance to revive same-old, same-old gyms.
Peloton Interactive Inc said on Monday it partnered with Hilton Worldwide Holdings Inc to feature its bikes across the hotel operator’s U.S. portfolio.
All 5,400 of Hilton’s U.S.-branded hotels will feature at least one Peloton bike by the end of the year, the companies said.
The agreement comes after Peloton said last week that it would start selling its treadmills, exercise bikes and other fitness accessories at Dick’s Sporting Goods Inc stores, in an effort to lift sagging sales.
The fitness equipment maker, under CEO Barry McCarthy, has been looking to turnaround the business with a slew of steps such as job cuts, price hikes and listing its products on Amazon.com, among others.
Under the partnership announced on Monday, U.S.-based members of Hilton Honors, who are first-time Peloton users, can avail a 90-day trial subscription to the Peloton App.
Shares of Peloton rose 5.2 percent in premarket trade.
(Reporting by Nathan Gomes in Bengaluru; editing by Uttaresh.V)
Photo credit: A guest rides a Peloton at a Hilton property Hilton