Loyalty schemes have been branded ‘unimaginative' and ‘samey' by market research specialist Travel XRay.
The company claims accommodation, car hire and airline loyalty programmes risk cancelling out their intended benefits because travellers are increasingly members of multiple schemes.
Travel XRay director, Adrian Lawes, said latest research suggests only 6% of UK leisure travellers intend to use loyalty schemes or air miles as a way to save money on holiday bookings.
He added: ‘The purpose of a loyalty scheme is to try to make you a member of that club and no other.
‘But the growing number of travellers who are offered almost identical benefits from numerous suppliers will float between brands as the incentive's exclusive pull is effectively cancelled out.'
The analysis comes as the Mileage Company, which operates Airmiles and BA Miles, announced it has entered the US market.
The company has signed a partnership with Chase Card Services to enhance the travel benefits of the British Airways Visa Signature Card in the US.
Meanwhile, Telegraph Media Group has launched a six-month partnership with BA to highlight the airline's initiative to promote business-class travel, Opportunity Grant.
Promotion of the initiative, to award 100 small- and medium-sized companies in the UK 12 free business class flights for a year, as well as other benefits, will take place in the Daily Telegraph and Sunday Telegraph and on telegraph.co.uk.
SMEs are invited to submit their pitches, explaining why they would benefit from business travel to meet clients face-to-face, by 15 December.