Is Hotels.com Rewards Coming Back from the Dead?
When it comes to loyalty program disasters, British Airways and Virgin Atlantic usually take the heat. But let’s be honest—no one tanked their value proposition quite like Expedia Group did with its short-lived One Key rollout.
The Loyalty Switch That Backfired
Hotels.com once had a simple, powerful pitch:
Book 10 nights, get 1 free. That’s roughly a 10% rebate on your spend. Easy to track. Easy to redeem. And it worked.
Yes, the program had been slightly watered down over the years, but the core appeal remained: a tangible reward for frequent stays.
Then Expedia decided to get clever.
They merged the loyalty programs of Expedia, Hotels.com, and Vrbo into One Key, aiming to offer unified rewards across all platforms.
On paper, that sounds smart. One account, earn and burn across all bookings—hotels, flights, and short-term rentals.
But in practice?
They slashed Hotels.com’s rebate value from 10% to just 2%.
That’s an 80% drop in value for the program’s most loyal customers. Suddenly, frequent bookers had no real reason to stay loyal to Hotels.com—especially if they were paying out of pocket and not getting reimbursed by an employer.
Even the “elite-only discounts” under One Key didn’t do much to ease the pain. They were too limited, applied to select hotels only, and weren’t helpful to anyone expensing their trips.
The Market Responded—Loudly
Here’s the thing about loyalty: when you mess with it, travelers notice.
Expedia may have had the right intention—create a universal loyalty currency like a "travel wallet" that spans across brands. But the earn rates were just too weak, especially compared to what Hotels.com regulars were used to.
And it’s showing up in the numbers:
Expedia saw a 20% increase in hotel bookings in Q2
But Expedia Group overall? Only 10% growth
Translation? Hotels.com was flat or falling—a red flag in a market that’s still bouncing back and growing.
What’s worse is that in the U.S. and U.K.—where One Key was already rolled out—Hotels.com is no longer seen as a go-to booking platform. The loyalty engine stopped driving repeat stays.
The Quiet Backtrack: Hotels.com Rewards May Be Returning
Now, in a rare moment of humility, Expedia Group is asking former Hotels.com power users to vote on a potential revival of the old program.
Survey respondents were presented with two options:
Option 1:
HotelsCash – A revamped version of OneKeyCash, but with way better earn rates:
6% back at base level
Up to 10% back for those who hit 30+ nights/year
Can be redeemed at any time, not just after hitting 10 nights
Option 2:
Bring back the OG Hotels.com Rewards
Book 10 nights, get 1 free
Payout based on the average of your 10 nights
Still simple, still familiar—but no partial redemptions
And the real kicker?
There’s no Option 3 to keep One Key in its current form. That’s basically Expedia waving the white flag.
Loyalty Still Matters
Here’s the big takeaway: Loyalty programs do move the needle. And when you gut them, travelers notice.
Even Delta, infamous for pushing the envelope on loyalty devaluations, got spooked last fall when the backlash over proposed SkyMiles changes forced them to backpedal—and fast. (Thanks, Amex.)
So now Expedia is in a tricky spot.
They can’t undo the rollout in the U.S. and U.K.
They don’t want to expand it to the rest of the world—especially in countries where Vrbo isn’t as big.
And they’re now left asking:
Do we sweeten Hotels.com earnings again?
Do we let people opt into a better loyalty version?
Or do we just accept that we’ve devalued a once-great brand?
The truth? Once trust is broken, it’s tough to get it back.
But at least this time, it seems like Expedia is listening. Let’s see if they’re ready to make things right.
Want to know how to maximize hotel loyalty in a post-devaluation world?
Join my next Hotel Secrets Masterclass or get on the waitlist for Airline Points Academy. Because if you want to win the travel game, you need to know when the rules change—and how to beat them anyway.
