Citibank pulled out of advanced negotiations with Apple to be the new issuer of a co-brand card that will now launch from Goldman Sachs this summer. According to a report “J.P. Morgan Chase, Barclays and Synchrony, also bid on the business.”
One bank staffer is said to have texted a Goldman Sachs executive, “Dude, if that portfolio ever makes money, I’m buying you a beer.”
Mark Brugger, the President and Chief Executive Officer of Diamondrock Hospitality, spoke about how Marriott’s new loyalty program is affecting his hotels during the company’s earnings call.
When asked by analysts to provide color on the Bonvoy transition, he noted lower costs and some positives and negatives depending on the property but where he zeroed in on a problem it’s providing breakfast at resorts to elites.
Regional jets have been stuck with slower internet speeds. In particular, they cannot be upgraded to Gogo’s 2Ku satellite system, the internet provider tells me, because “the radome is too large.” Still there’s a need to improve the inflight experience on regional jets.
Gogo announced today that it “will build a 5G network for aviation.” This is a new air-to-ground network regional jets and smaller mainline jets operating in the US and Canada, and for business jets.
Prince Harry was flying from Rome to London on British Airways in Club Europe this week. Since he had the bulkhead he had access to more legroom than you find on a Ryanair flight, something that British Airways doesn’t otherwise offer its business class customers.
American Express confirmed that Priority Pass cards they provide to customers will no longer provide a dining credit at airport restaurants effective August 1.
That naturally leads to a great deal of speculation about whether other card issuers will do the same thing. Here’s what I’ve uncovered.
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Several South American countries have approved the American Airlines joint venture with LATAM, and American has expected to receive approval from the U.S. In a surprising move, the Chilean Supreme Court has overturned the country’s regulatory anti-trust approval of the deal citing limited competition and barriers to entry. Presumably with US regulatory approval American and LATAM will move forward with their joint venture excluding US-Chile from the arrangement.
American Express has confirmed to me that U.S.-based cards offering Priority Pass will no longer provide credit in participating airport restaurants going forward.
Effective August 1 “the Priority Pass Membership benefit offered on American Express Platinum and Centurion Cards and Hilton Ascend, Hilton Aspire, and Marriott Bonvoy Brilliant™ Cards will no longer include complimentary access to non-lounge airport experiences.”
There are amazing fares between Los Angeles and Shanghai in business class the last third of the year on Hainan Airlines, which reportedly offers the best inflight product of any mainland Chinese carrier.
These fares are available from New York as well to Shanghai and with slightly higher pricing to Beijing, Guangzhou, Shenzhen and Fuzhou
We’re seeing what may be the beginning of the next big restriction on bank-provided Priority Pass cards: American Express has notified Hong Kong cardmembers that effective August 1 Priority Pass cards that come with their Centurion, Platinum, Peninsula Platinum, and Cathay Pacific Elite credit cards will no longer offer “non-lounge airport experiences” such as restaurants, cafes, and bars “where food/beverage credit is offered instead of entrance into a traditional airport lounge.”
This would cut American Express’ costs to issue these cards significantly, and be a huge cut in cardmember benefits. The worry here is that it could spread (1) to other American Express markets, and (2) to other issuers. I have asked American Express what their plans are for this restriction and will share anything that I learn.
Gary Leff is one of the foremost experts in the field of miles, points, and frequent business travel -- a topic he has covered since 2002.
Co-founder of frequent flyer community InsideFlyer.com, emcee of the Freddie Awards, and named one of the "World's Top Travel Experts" by Conde' Nast Traveler (2010-Present) Gary has been a guest on most major news media, profiled in several top print publications, and published broadly on the topic of consumer loyalty. More About Gary »
