American Express and Chase expand luxury lounges beyond airports

American Express and Chase are expanding their premium lounge strategies beyond airports, adding exclusive spaces at festivals, sports venues, and other major events as they compete for affluent cardholders. The article says both companies are using lounges, special access, and event partnerships to justify rising annual fees on cards such as American Express Platinum and Chase Sapphire Reserve. These perks are designed to strengthen loyalty among highspending customers and make premium cards more attractive. American Express has lounges and activations at events including the US Open, Stagecoach, and Formula 1 races, while Chase has offered access at places such as Lollapalooza, Miami Art Week, Sundance, and the PGA Tour. Both firms are also building permanent lounge spaces inside venues like arenas and theaters. Analysts say the strategy reflects competition at the high end of the credit card market and the spending power of affluent consumers.