Bits: Virgin Money planning a Curve-style card?, Hyatt opening in Santorini and Sardinia

News in brief:

Is Virgin Money planning a Curve-style product?

Virgin Money has been circulating an interesting survey to selected customers asking for their views on what appears to be a Curve-style wallet aggregator product.

I don’t know any more about it than what you can see in the three screenshots here (click to enlarge slightly):

It appears to be an electronic wallet which would allow you to:

• link your existing credit and debit cards
• earn points on all of your spending
• redeem Virgin Points on day to day spending

What is not fully clear is how the product works. If you are ‘earning points on all of your spending’, even from linked cards which do not earn points, it suggests that there may be some sort of Curve-style intermediary card involved.

The product would also include a Klarna-style function to repay purchases in instalments, and a Snoop-style function to monitor your spending and suggest ways in which you could have saved on purchases you made.

I wouldn’t get too excited about the ability to redeem Virgin Points on day to day spending. The rate is likely to very poor, potentially even lower than the standard ‘0.5p per point’ valuation used when you redeem for products via Virgin Red. If you did get 0.5p per Virgin Point then it would be a decent result given that you are effectively redeeming points for cash.

There is no guarantee that this product ever sees the light of day, of course, but it is interesting to see the direction of travel of one of the more established financial institutions.

Hyatt opening hotels in Santorini and Sardinia in 2022

Hyatt is pushing ahead with its European expansion with the announcement of two very interesting European openings for 2022.

First up is Magma Resort Santorini, due to open in mid-2022. An image is above.

This will be part of The Unbound Collection by Hyatt, Hyatt’s version of Marriott’s Autograph or Hilton’s Curio Collection. These brands allow hotels to join a chain without adhering to any strict brand standards as long as they are high quality.

Magma Resort Santorini “will offer one-of-a-kind luxury stays. The 59-room resort will be nestled among traditional old vineyards and located on the lava-made slopes of Vourvoulos where guests will be able to enjoy stunning Santorini sunsets.”

It is already on the Hyatt website here although not bookable.

Second up is 7Pines Resort Sardinia, part of the Destination by Hyatt brand. This is expected to open in mid 2022. It is not a surprise to see this resort join Hyatt after the original 7Pines Resort in Ibiza signed last year.

To quote: “7Pines Resort Sardinia will mark the second Destination by Hyatt hotel in Europe. Ideally located overlooking the archipelago of La Maddalena and surrounded by untouched coastline and a nature reserve, guests will enjoy laid-back luxury and a deep sense of place in this unique setting.”

Hyatt’s presence in Madrid will be boosted by Thompson Madrid, also expected in mid 2022. This marks the reintroduction of the Thompson brand to Europe – it gave up its London hotel in Knightsbridge after a couple of, presumably unsuccessful, years.

To quote: “The dynamic, thoughtfully curated hotel will be located in the center of the new Golden Mile of Madrid, steps away from the most visited icons of the city. Striking design and spaces, including a rooftop terrace and pool, are sure to make the hotel a cultural hub showcasing the individuality of the locale.”

Santorini and Sardinia are likely to be exceptionally good value for World of Hyatt redemptions. World of Hyatt has ‘last room availability’ which means that if a standard room is bookable for cash, it must be made available for points. With Hyatt’s award chart capping out at 35,000 points, it should be easy to exceed our 1.1p per Hyatt point valuation in Summer.

Hyatt has also excellent value suite and suite upgrade awards, which I took advantage of on my recent trip to Paris.

The problem, of course, is that there is no easy route to earn Hyatt points in the UK without ‘heads in beds’. There is no credit card and no credit card transfer partners.

Doing a Membership Rewards transfer deal with American Express would be a big win for both sides in my view. The lack of partners puts people off doing occasional Hyatt stays as there is no way of topping up the points earned.

PS. Looking further ahead, Hyatt has signed two luxury resorts on Lanzarote – Alila Lanzarote and Grand Hyatt Lanzarote – which will open in 2025.