Chase Secures Miami Airport Lounge Spot Over Capital One (Huge Outbid)

Last year we learnt that Miami Airport (MIA) would be getting a new lounge, OMaaT is now reporting that Chase has won that spot over Capital One and TAV.The new Chase Sapphire Lounge will be located in Concourse E near gate E7 on the third floor and be roughly 14,000 square feet.

Chase has secured a 15 year lease in a deal that is expected to bring the airport nearly $94 million in revenue.As part of the deal chase will pay for all capital improvements, 40% of gross revenues across applicable categories and an annual ‘privilege’ fee of ~$3.46 million.It seems that Chase massively outbid the competitors as the others were offering:

13-25% of gross revenue & $120,000 annually (Capital One, bid was under PPL holdings)

13-26% of gross revenue & $100,000 annually (TAV)

Looks like lounge spots are becoming as competitive as airline slots.

Disclaimer: This story is auto-aggregated by a computer program and has not been created or edited by mycardopinions.
Publisher: Source link

Your email address will not be published. Required fields are marked*

Frequently Asked Questions

Certainly. Unlike personal loans, you won't face any penalties for settling your balance ahead of schedule. However, it's crucial to keep in mind that if your credit card comes with a 0% introductory offer, it's essential to clear your balance completely before the 0% promotion expires and interest charges apply.

However, you can include additional cardholders, each with their own card. While sharing the single credit limit, the primary cardholder remains responsible for settling the debt.

Potentially, yes. Credit card APRs are typically variable, allowing lenders to change rates, impacting your monthly payments. Additionally, be mindful that introductory 0% offers can lead to higher interest rates once they expire. So, it's wise to clear your balance before that happens, if feasible.

Indeed, credit builder cards exist for those with less-than-ideal credit scores. These cards offer lower credit limits (typically £150 to £1,200) and higher interest rates. Responsible use, including full and on-time payments, can gradually boost your creditworthiness, potentially opening doors to better credit card offers down the line.