Marriott and Expedia Group announced in a joint statement that the companies have signed a new multiyear agreement.

According to the statement, sent to HNN by a Marriott spokesperson, “the agreement continues Marriott’s long-standing distribution arrangement with Expedia Group for transient bookings, expands Expedia Group’s role related to Vacations by Marriott, the company’s leisure packaging platform, and leverages Expedia Group’s technology capabilities for an innovative distribution arrangement beyond transient retail bookings expected to launch in the fourth quarter.”

The statement also mentions that Marriott and Expedia “have reached mutually beneficial economic terms that advance each company’s strategic objectives.”