Despite the fact that revenue-based models are terrible for travelers, there’s no denying it: Investors love the prospect of smaller and more profitable loyalty programs. And until there’s an incentive, such as travel demand cooling off, for an airline or a hotel chain to broaden its loyalty program and recruit new members, then revenue-based programs will continue to expand. Hyatt’s venture into the revenue-based space, which allowed some members to qualify for elite status based on annual spend, wasn’t a blockbuster as it also increased the number of required nights necessary to qualify for status. In May, Jeff Zidell, the head of World of Hyatt, stepped down. Last week, Hyatt’s CMO also left. Despite the tumult, Hyatt paints the transition to the new World of Hyatt as a success, and many competing loyalty programs may incorporate revenue-based components through 2018. Marriott and Starwood are set to announce later this year a merged loyalty program for 2019 while the newly merging Wyndham and La Quinta have a new joint program to forge. Get the full story at Skift