WOAH WOAH WOAH – BREAKING NEWS!
The Washington Business Journal has reported that Capital One is set to open a “branded” lounge at Washington Dulles. There have been a lot of rumors and ideas as to WHO would take the vacant 9,000 SF space.
Capital One To Open Their Own “Branded Lounge”
DC is home to Capital One HQ, after all. They also sponsor the major arenas, so it makes sense from a marketing perspective. Not to mention they’ve recently begun to add more travel partners to their cards. This is the next logical step to competing head to head with AMEX.
As Mike Neibauer from the WBJ reports:
The lounge, featuring a green building design, will include “unique and comfortable seating,” Wi-Fi and business services, conference room space, “premium liquors and wines,” high-quality dining, quiet rooms, a workout room, a shower room, select spa services and a children’s play room. The space will be available for use by the traveling public for a fee, which will be set “at market rates at the time of the lounge’s opening,” per staff.Washington Business Journal 2/18/20
After some initial research back for a former client two years ago, I realized the minimum required for this contract would be massive. That, I was not mistaken on. The lounge will be operated by TAV America (sponsored by Capital One) and will cost $22.9 M over 10 years in part due to a minimum guarantee PLUS 33% of gross revenues. That’s on top of the $7.5 M for the design and construction plus $1.875 M for renovations/maintenance over the 10 year period.
What’s your take on this news? Excited? Skeptical? Which cards do you think might earn you access? We’ll be sure to keep up on any additional info as it comes out…
The post WOW! Capital One to Open a Lounge at Washington Dulles was first published on Coworkaholic.