<font face="Verdana, Arial, Helvetica, sans-serif" size="2">Originally posted by gleff:
I seem to recall the HBR article you're likely referencing but can't find it... IIRC it was once posted here by Eugene. </font>
Excellent memory,
Gary!

That was actually not an HBR article, but a very interesting Harvard case study called "Hilton HHonors Worldwide: Loyalty Wars", and discussed not just HH, but also SPG, and other key players in hotel loyalty programs game. It was available
online, but it looks like it's gone now. Wish I have saved that pdf file...