Business Travelers: Is Loyalty Dead?Airline and hotel loyalty programs have undergone some significant changes in the last few years.

Upgrades and other perks have been the promise of airline and hotel loyalty programs since the early 1980s. More than 30 years on, loyalty has been devalued.

Exhibit A: This spring United Airlines overhauled its MileagePlus program to award miles based not on distance flown but on price paid per ticket (following a similar move by Delta Air Lines). Now a flight that once earned you 1,000 points may earn just 300.