trip construction

THC

Jan 8, 2026

•

7 min read

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

Second Order Travel

IHG

Jan 8, 2026

•

5 min read

How uncapped FNCs unlocked rooms that pricing said shouldn’t exist

Second Order Travel

Miles & Points

Dec 31, 2025

•

3 min read

Why capped, flex, and uncapped FNCs behave very differently in practice

hotel strategy

Dec 28, 2025

•

6 min read

Certificates, expiry risk, FHR timing, and why sequencing mattered more than value

Second Order Travel

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