What you need to know
A strong economy encourages people to spend on travel. With many tools available to help consumers find the lowest prices, travel providers lean on their loyalty programs to build crucial brand loyalty. These programs must innovate in order to maximize their effectiveness in the face of changing traveler habits and desires.
Definition
For the purposes of this Report, Mintel uses the terms “frequent travel program (FTP)” and “travel loyalty program” interchangeably and defines them as programs through which members can accrue rewards for travel with participating providers and redeem these for future benefits. Programs considered include:
Airline frequent flyer programs
Hotel loyalty rewards programs
Car rental rewards programs
The above are sometimes collectively referred to as “traditional FTPs/loyalty programs.” That term does not include the following programs that are also covered in the scope of this Report, unless otherwise specified:
Online travel agency (OTA) loyalty programs
Credit card rewards programs, where points accrued can be redeemed for travel rewards