TravelStories Episode 42: The Points Guy is Bilt for Rewards with Richard Kerr

Milenomics ² Podcast - No Annual Fee Edition

Episode 42: Show Notes

We Welcome Richrd Kerr, VP of Travel at Bilt Rewards. Richard is a miles, points, and travel enthusiast whose vast experience has led him to lead a prominent facebook group (now Award Travel 101), write for The Points Guy, and ultimately to Bilt Rewards – the loyalty program for where you live. Richard is kind enough to share about Bilt; its some of its metrics; its unique value proposition. Richard carefully dissects common public misconceptions about miles and points. We discuss devaluations, the technological evolution of miles and points and the rise of social media, how Bilt members earn and redeem points, and what the industry looks like five years after the COVID disruption. Richard also shares details about his favorite family trips, how he and his wife homeschool their kids while on vacation, an unforgettable Aman Resort experience, and the eyewatering price of modern hotels. To end, our guest gives us his view of the future of miles and points as he shares helpful advice for finding big savings and great-value deals, and we discuss why Summer travel has been more chaotic than usual in 2024.

Key Points From This Episode:

• [00:00] Welcoming Richard Kerr as he relives an incredible family trip with his wife and son.
• [06:23] The ins and outs of Bilt Rewards and its unique value proposition.
• [12:05] Bilt’s metrics and data points that help give insight on how the company operates.
• [16:12] How the company’s airline, hotel, and other partners share their data with Bilt.
• [19:50] Richard debunks common miles and points misconceptions.
• [22:55] Unpacking points devaluations and in particular, having Alaska as a partner.
• [26:18] The technological evolution of miles and points, and the role of social media.
• [31:15] How Bilt’s members redeem their points.
• [33:41] Assessing the state of the industry five years after COVID.
• [36:57] The ridiculous price of modern hotels.
• [39:53] Richard’s predictions of the immediate future of miles and points.
• [42:56] He and his wife’s Aman Resort experience.
• [50:41] Their trip to Europe, and how they incorporate homeschooling in their travels.
• [55:20] Why travel seems more chaotic than usual this Summer.
• [57:42] Richard’s tips and tricks for big savings and great-value deals.

Quotes:

“Our pitch [for Bilt] from the beginning was, ‘Look, this is not the standard. You can’t throw what you’ve always done before; you can’t use the same playbook; you’ve got to do something different to get our members interested.’” — @KerrPoints [0:08:50]

“We’re literally spreading the wealth elsewhere so that the vast majority of our members can win, not just die-hard points and miles people. And I get it, it’s not a message that die-hard points and mile people want to hear, but we’re still doing really cool stuff [for them].” — @KerrPoints [0:15:09]

“A loyalty program—as I have learned over the last three years—is as much of an art as it is a science.” — @KerrPoints [0:16:12]

“There’s nobody writing anymore, because the next generation of folks, 10 years later, has come into Instagram and TikTok, and that’s where they think they’re going to make money.” — @KerrPoints [0:28:27]

“I’ve been commuting from Atlanta to New York for five years now so I knew what hotels cost. What I’ve seen in 2024 for hotel rates in New York City is just mind-boggling. I cannot comprehend who these people are who are paying for these hotels.” — @KerrPoints [0:37:22]

“To everybody who’s followed my story; followed me; wished me well; were supporters when I was in the Facebook days; at The Points Guy read my stuff, I really appreciate it, and it’s just led to this dream job that I’ve somehow landed in.” — @KerrPoints [1:02:25]

Links Mentioned in Today’s Episode:

Richard Kerr on LinkedIn

Richard Kerr on Instagram

Richard Kerr on X

Bilt

Bilt on YouTube

The Points Guy

Etihad Airways

David Canty on LinkedIn

Chase Ultimate Rewards

Alaska Airlines

Hyatt Grand Central New York

Aman Resorts

Spirit

Frontier

United

Thomas Kim on X

Trevor Mountcastle on X

The Milenomics Podcast Network