Peloton Interactive Inc (NASDAQ: PTON) is up 5.0% on Monday after the exercise equipment manufacturer announced a partnership with Hilton Worldwide Holdings Inc (NYSE: HLT).
Hilton hotels to feature a Peloton Bike
Peloton, in a press release this morning, said it will put at least one of its bikes in all 5,400 Hilton-branded hotels across the United States.
The connected fitness company is aiming for nearly all of Hilton’s nationwide locations to feature a Peloton bike by the end of 2022. The rollout, it confirmed, will being later this month.
Members of the hospitality giant’s loyalty programme will get a 90-day free trial of the Peloton app as well. With this announcement, the Nasdaq-listed firm is building on its footprint in hotels. So far, it said, guests have taken 1.6 million rides at hotels (globally) in 2022.
Last month, Peloton said its products will now be available at Dick’s Sporting Goods. Before that, it also signed a sales deal with Amazon.com Inc as we published here.
Jim Cramer favours Lululemon over Peloton
Versus its year-to-date high, the Peloton stock is currently down more than 80%.
Still, famed investor Jim Cramer, even after today’s news, favours Lululemon Athletica Inc over Peloton Interactive Inc. On CNBC’s “Squawk on the Street”, he said:
Lululemon is down so much. But it’s doing so many things right, it’s still crushing it – Kevin McDonald with Mirror. So, stop fooling around with Peloton, buy the expensive one. I think you’ll do better. Lulu is doing incredibly well.
In August, Peloton reported disappointing results for its fiscal Q4 and issued weak guidance for the future. Still, Wall Street rates this beaten down stock at “overweight”.
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