JPMorgan Chase & Co. (NYSE:JPM) is set to enhance its travel services for Sapphire Reserve cardholders with the launch of “The Edit by Chase Travel,” a premium hotel booking platform, in early 2024. This move comes as part of the company’s broader strategy to expand its luxury travel offerings, which has already seen significant growth in advanced bookings for the spring and summer of 2024.

Chase Travel recently secured the eighth position on Travel Weekly’s Power List for 2023, reflecting its strong performance in the travel sector. The company reported a substantial increase in advance bookings, with a 47% rise for spring and a notable 59% jump for summer travel next year, signaling a robust year ahead.

The Edit by Chase Travel is designed to provide an elevated experience for travelers, offering editorial content and complimentary benefits such as free breakfast and room upgrades. Cardholders will be able to redeem their Ultimate Rewards points for premium lodging benefits, building on the success of Chase’s Luxury Hotel & Resort Collection.

In addition to The Edit, Chase has expanded its Luxury Hotel & Resort Collection with over 100 Four Seasons properties earlier this year. This allows cardholders to access additional perks without needing a separate Four Seasons loyalty program.

Chase’s growth in the luxury travel market also includes its entry into the airport lounge space, with its first location opened at Boston Logan International Airport. The credit card giant competes with established brands like American Express (NYSE:AXP) and Capital One and has announced plans for future lounges in cities such as Las Vegas and New York City.

The company’s strategic initiatives have led to increased luxury sales, including enhanced bookings at five-star establishments and higher purchases of business and first-class airfares.