Chase will be launching a new travel portal, first for all credit card customers and then for all of its bank customers. And they have eight airport lounges in the pipeline, whereas we previously only knew about six (and they’d only confirmed four). That and more according to an investor presentation.

At its investor day, Chase revealed that they are going to launch this year.

  • They expect $8 billion in travel sales in 2022, $10 billion next year, and $15 billion by 2025
  • 25% of leisure travel spend is on a Chase credit card (and 33% by Chase customers)

    [In] US leisure travel, $1 in every $4 spent is on a Chase Card, and $1 in every $3 spent is by a Chase customer. And the stats for dining are quite similar. But only a small percentage of this spend went through our platform because our assets were not differentiated.

  • They are already a “top five US consumer travel provider.”

I was the only one who was critical of their move to outsourcing their rewards booking portal. I found that they offered better service after they acquired cxLoyalty. They intend to benefit from their customers' travel spend in terms of experience, commission, and data marketing when they invest in that platform.

Our travel business is cash flow positive today. The acquisitions pay back within six years on strong revenue margins. And for context here, industry commissions mix dependent are about 10%. And now we’re getting all of that, whereas previously we were not. The business will require little marketing expense as we leverage our existing customers and channels reinforced by our loyalty program Ultimate Rewards. And so, the net of all of that, we expect a net margin of about 5% plus or minus. Portal Brings Together Numerous Investments

Capital One moved quickly to launch its new travel portal after investing $170 million in Hopper. The opportunity in travel and experiences for high-end customers is shared across the industry.

Chase has a lot of assets, but they haven't been marketed to customers yet. This is supposed to be solved by the new They launched a dining hub including a Tock reservations platform integration and acquired The Infatuation and Zagat for rich content.

Eight Airport Lounges Are Coming

Last year we learned that Chase would launch its own lounge network in conjunction with Airport Dimensions, which runs The Club lounges and shares a parent company with Priority Pass.

There are known planned lounges.