Shares of Peloton Interactive (NASDAQ: PTON) were up on Monday after the company announced a partnership with hotel chain Hilton Worldwide Holdings (NYSE: HLT). As of 1 p.m. ET today, Peloton stock was up about 7%. Hilton stock was little changed with this news.

According to this morning's news release, Hilton will place at least one Peloton Bike in all 5,400 Hilton-branded hotels by the end of 2022. According to Peloton, 90% of its members prefer hotels with its equipment, so this move also could be seen as serving its existing customer base.

This is Peloton's third major partnership announcement in less than a month, all of which could help acquire new memberships. On Sept. 21, the company expanded its partnership with UnitedHealth Group to give access to the Peloton app for up to 10 million UnitedHealthcare members as part of their benefits package. And on Sept. 29, Peloton announced it would be selling equipment in 100 locations of Dick's Sporting Goods.

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Source Fool.com