American Express and Airbnb announce travel rewards partnership

The partnership, announced Thursday, integrates Airbnb into American Express Travel's hotel offerings, which already include more than 3,400 properties through Fine Hotels + Resorts and The Hotel Collection. Cardholders with eligible American Express cards can now earn rewards on prepaid Airbnb stays booked through Amex Travel. Consumer and Business Platinum card members earn five times Membership Rewards points; Classic Green card members earn three times on travel bookings made through third-party sites including Airbnb; other rewards members earn two times points. Additionally, Platinum cardholders can now apply their $600 annual lodging credit, formerly the hotel credit, toward Airbnb Luxe stays, and receive a $250 statement credit on eligible Airbnb Experiences after booking a Luxe stay. "We're excited to bring more choice and flexibility to American Express Card Members with this exclusive partnership," said Juan David Borrero, head of partnerships at Airbnb, in a news release. "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." The partnership does not currently allow cardholders to redeem their points to pay for Airbnb bookings. The announcement comes as competition among premium credit cards intensifies. American Express recently raised its Platinum card annual fee to $895 and has been expanding perks such as airport lounges and event access. Earlier this month, it announced renovations to four existing Centurion Lounges and plans for new lounges in Newark and London. The partnership also reflects continued strong demand for travel and experiences, even as costs rise. A recent study by travel insurance company Squaremouth found that more than half of Americans made no changes to their summer travel plans despite higher prices.