Now that I’m starting to think it through more as much as I want to blame a RAT a normal quant probably caught it...
Why care? Those TAs weren’t booking stuff at the wholesale rates Expedia can. While Chase may be willing to take that hit on airfare maybe they never planned to have to take it on some hotels & park tickets as well. I booked a Drury once on Chase and while making a room request the guy accidentally quoted me the rate Chase booked the room at, like 30% less than what I paid. At the end of the day I was happy having redeemed my points for cheaper than booking direct, Chase was happy having originally bought the hotel for a rate I never could and then charging me full price. Using TAs to book Disney completely circumnavigated any wholesale hotel discount... My hope is Disney hotels will ultimately still be available via normal online booking with URs but only time will tell