Capital One is refreshing its miles program by adding four new airline and hotel partners.
Some existing and new partners will have an improved transfer ratio of 1:1.
The issuer will open new airport lounges and revamp its online travel portal in the coming months.
Capital One has made improvements to its rewards program in recent years by adding airline and hotel transfer partners in addition to redeeming miles at a fixed value toward travel. Today it announced another big update to its rewards program, and there s good news for customers who are getting ready to travel again.
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This summer, Capital One will open a brand-new airport lounge at Dallas-Fort Worth (DFW), and in 2022, another lounge at Washington Dulles (IAD). These lounges will have amenities like showers, cycling and yoga rooms, and a wide selection of food and drinks.
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A hotel portfolio of properties largely in drive-to settings and outside major urban centers enabled Choice Hotels to clinch a profitable year despite a global pandemic that decimated travel demand.
Choice Hotels achieved a $7.9 million fourth quarter profit and $75.4 million profit for all of 2020, the company reported Monday. This is a major financial milestone within the hotel industry, as the pandemic’s impact created the worst year on-record for most travel companies. Hilton earlier in the day reported a $720 million 2020 loss, and Wyndham posted last week a $132 million 2020 loss.
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