A month ago I wrote that frequent flyer programs would save the airlines because they offer rich sources of value and cash. However while United and Delta are reportedly in talks to sell large chunks of miles at a discount to their credit card partner banks, it’s actually Hilton that’s first out of the gate with this.
Hilton shared with the SEC that they’ve pre-sold $1 billion worth of points to American Express. That probably somewhere around half a trillion Honors points.