Cleveland Research recently flagged a pretty telling data point from Amex: lodging spend through Fine Hotels & Resorts (FHR) was up 50% YoY in both Q4 and Q1, roughly 10x faster than overall lodging growth on their network.
The program expanded with about 300 new properties added. But that doesn’t explain all of it. High-value travelers seem to be consolidating into platforms that bundle perks, points, and a smoother booking experience.
And they’re willing to pay for it. FHR rates can run meaningfully higher than booking direct, which means guests are actively choosing the platform and the perks over the lowest rates. A lesson for revenue managers?
Also worth noting: the average age of a new U.S. Platinum cardholder is now 33. That’s a long runway for Amex to own that relationship. It seems some guests aren’t starting with your brand. They’re starting with Amex (or Chase or Capital One…).
One interesting point that came up at the Travel Weekly conference, not every “luxury” traveler is high net worth. Many are stretching to get there, using credit or buy now, pay later options (BNPL) to access the experience. Instagram has us all chasing billionaire travel experiences on beer budgets.
Makes you wonder if there’s a takeaway here for mid-scale. The demand for the experience is there. The question is how it’s being packaged and who’s capturing it.
Quick Note: What is FHR? Fine Hotels & Resorts (FHR) is Amex’s hotel program for certain cardholders. Hotels have to be selected/approved to be part of this network. It bundles perks like free breakfast, property credits, upgrades, and late checkout. Chase recently launched a similar program called The Edit.
