Interesting line" frequent travellers are less profitable because they are savvy".
It has often amazed me that when the FFN's are about, I will do business in Indonesia, where I can pick up a FFN for around $160 if I am lucky. Later I will be in HKG or CDG where the rooms are 700+ and I throw in a suite upgrade making the room worth double, and that's where I use it. Personally I love this system as against the SPG which was something like buy three and the forth is free, but for the life of me I can't see how some of the high end hotels can make a dollar out of it. But then, it's not my problem.