Peloton Scores Big Deal with Hilton

Peloton (NASDAQ:PTON) will put bikes in all 5,400 Hilton-(NYSE:HLT) owned hotels in the United States as part of a partnership announced Monday, as the bike maker pushes to expand its reach.

The partnership will provide at least one bike to each hotel, including locations of the 18 hospitality subsidiaries that Hilton owns, such as Hampton Inn, Embassy Suites and Doubletree. Hilton Honors members will also receive a 90-day free trial of the Peloton app.

Hilton hotels that already have Peloton bikes will have the option to add another. The company says that rollout will begin in the coming weeks, with the majority of locations equipped by the end of the year.

The partnership builds on an existing hotel footprint for Peloton, which says hotel guests have completed 1.6 million Peloton rides so far in 2022.

Peloton, which began as an exclusive, direct-to-consumer brand, has shifted gears to a broader mass-market approach. Last week, the company announced that its bikes, treadmills and other hardware would be sold in Dick’s Sporting Goods (NYSE:DSK) locations. Peloton previously launched nationwide bike rentals, certified preowned bikes and a sales partnership with Amazon (NASDAQ:AMZN).

Peloton shares dipped two cents to $6.91, while those for Hilton gained $1.56, or 1.3%, to $122.19.