wellnessfitpro 
Hotel companies still lead their earnings calls with revenue per available room (RevPAR) — it’s the cleanest shorthand for demand and pricing power.
But throughout this past earnings season, another message from executives kept surfacing: The biggest hotel groups are increasingly treating loyalty as a revenue engine through co-branded credit cards, partnerships, and subscriptions.
They are also using loyalty to shift bookings away from higher-cost distribution: Direct bookings typically cost hotels roughly 4% to 5% of revenue to acquire, versus OTA commissions that top 15%.
“The loyalty platform evolution will bolster our customer acquisition capabilities, widen our competitive moat, and unlock the full potential from IHG One Rewards,” said IHG CEO Elie Maalouf.
Credit Cards
Co-branded credit cards are one important way hotel companies make money from loyalty.
Marriott put the biggest number on the board. “Our guidance
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