THC

THC

Amex Platinum

+5

When FHR Stops Being the Right Tool

Jan 9, 2026

•

5 min read

When FHR Stops Being the Right Tool

Amsterdam, abundant luxury, and the limits of rebate logic

Second Order Travel

THC

+4

When Fine Hotels + Resorts Works, and When It Doesn’t

Jan 8, 2026

•

7 min read

When Fine Hotels + Resorts Works, and When It Doesn’t

Market structure, fixed rebates, and when the math stops helping

Second Order Travel