Subscriptions in travel: Promise and pitfalls

How Odigeo turned loyalty into profit while Soho House stumbled — and why hotels are rethinking their models

Subscriptions have become a powerful tool in the travel sector, offering predictable income and stronger loyalty. Yet success depends on careful design and disciplined execution. eDreams Odigeo’s Prime shows how subscriptions can transform profitability, while Soho House’s struggles highlight the risks. Hotel groups like Accor, IHG, and CitizenM are now testing different models to see if they can capture the same benefits without eroding value.

Key takeaways

• Odigeo’s prime success: Membership grew 20% to 7.5 million, driving 72% of cash revenue margin and turning losses into profits.
• Soho House struggles: Despite membership growth, high costs and operating losses led to a take-private deal after investor confidence eroded.
• Accor’s unified approach: ALL Accor+ consolidates fragmented schemes into four global tiers, aiming for clarity and stronger direct bookings, though many properties remain excluded.
• IHG monetises status: Selling Ambassador membership turns aspirational loyalty into upfront revenue, without relying on stay volume.
• CitizenM’s hybrid model: mycitizenM+ integrates with Marriott Bonvoy, combining boutique brand perks with global recognition.
• Airlines and intermediaries: Ryanair and TripAdvisor also use subscriptions to lock in spend and diversify away from volatile revenue streams.
• Asset-light challenges: Chains face owner resistance, as discounts may cannibalise rates and dilute revenues, limiting the scope of broad roll-outs.
• The bigger lesson: Subscriptions only work when value is clear to consumers and margins are protected for operators; poorly executed schemes risk brand erosion and financial drag.

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