Bank of America is offering “an exclusive travel experience for ultra-high net worth customers” through an agreement with boutique travel company Indagare, the bank announcement Tuesday (June 21).
The loyalty program offering is tied to Bank of America’s Preferred Rewards program, which has a total of about 10 million members, according to the announcement. Depending on various factors, participants receive different offers.
“Indagare Travel Experiences are available exclusively to Diamond Honors Members – customers with $10 million or more in their Bank of America and Merrill bank balances,” the announcement reads.
“We are always looking for new ways to reward our clients who have built a deep relationship with us,” Andy Sieg, president of Merrill Wealth Management, said in a prepared statement.
Katy Knox, President of The Private Bank, said in a prepared statement: “Our customers often share their passion for travel with us and the desire to fulfill their free time in a meaningful way.”
According to the Bank of America Institute, households continue to spend on leisure despite inflation. Airline spending rose 50% year-over-year in May.
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Indagare’s offerings include a four-day trip to Napa Valley and an encounter with elite winemakers. Another trip is called “The Best of Private Paris” and includes visits to private homes and artists’ studios off the beaten track. The last stop is a night at the first hotel in Versailles. Another travel option is a trip to Jordan with a private concert in a Roman amphitheater.
Other trips are virtual tours that include owners or operators in charge or architects who have designed rare sites.
Indagare states on its website that it has visited 114 countries in the past year and the company has planned 35,000 trips.