Chase to Launch Consumer Travel Portal; Claims Top 5 U.S. Travel Provider With $8 Billion in Sales
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Chase is planning to launch ChaseTravel.com later this year as a consumer portal for its cardholders and its bank customers, a total of 66 million U.S. households, in a big upgrade on its ambitions in the travel sector.
It is also disclosing details on the size of its travel business for the first time: it expects to reach about $8 billion in sales volume this year and aiming for $15 billion by 2025. It also said that in terms of U.S> leisure travel, $1 in every $4 spent is on a Chase Card, and $1 in every $3 spent is by a Chase customer. It also disclosed that it has now identified and plans to launch eight airport Chase Sapphire Lounges, up from its previously disclosed four.
All of these details were disclosed at parent company JPMorgan Chase's annual 2022 investor day earlier in May, buried inside hundreds of slide presentations and presented by Marianne Lake, co-CEO of consumer and community banking at JPMC on the investor day.
According to Lake: "We saw an opportunity during the pandemic to own our own destiny in travel, and we acquired cxLoyalty, a proprietary, two-sided travel platform, and Frosch, it
