There is no easy way to state how dramatically the hotel industry has been impacted by COVID-19. Many travel businesses are struggling right now with very few options for help. Fortunately, Buy Now, Stay Later is providing an innovative way to help navigate these unprecedented challenges.
The program is truly a win for everyone. Travelers get to book future travel at a deep discount, and hotels are getting the help they desperately need to keep their doors open while travel has come to a screeching halt. These hotels are using your investments to continue paying their employees from top to bottom.
The way the program works is quite simple. Travelers can invest in hotel “bonds” in increments of $100 dollars directly from the hotel or hotels of their choice. After a 60 day maturation period that $100 investment becomes $150 in credit. So $300 becomes $450, $500 becomes $750 and $1000 becomes $1,500.
Each hotel is managing its own transactions. Meaning there is no middle man or third party taking a cut. Your money goes directly to the properties you choose to invest in. Hotels from Italy to Australia are already involved in this constantly growing program. It is worth noting, like many investments there is a bit of risk involved. The worst-case scenario, of course, being a hotel closure resulting in your loss of funds. However, by joining this program each of these hotels are taking a proactive approach to such things.
To get started, head over to the website and scroll down to the hotel list or simply click here. Each hotel name is a clickable link taking you directly to the properties website. There you can, of course, see pictures, many even offering virtual tours. Looking at room options and prices will help you in determining the amount you would like to invest with any given hotel. Since each hotel is managing this on their own, if you’re interested in getting “bonds” with more than one hotel you will have to contact them each individually.
The statistics are staggering. In the United States alone the Transportation Security Administration is reporting a 96 percent decline in passenger traffic. Globally an estimated 319 million jobs are a direct result of the tourism industry according to Adam Sacks, president of Tourism Economics, a leading research firm that follows the industry. His firm produced the data on the industry’s global revenue and employment, the latter for the World Travel and Tourism Council. “If you measure the entirety of the impact of travel, it is bigger than any other industry around the world. No other industry can say it supports 1 in 10 jobs,”
The overall impact on the travel industry and the world as a whole will be determined by how long the virus sticks around. One thing we do know to be true is the insatiable passion for travel that lies deep within many of us. Our collective desire to taste new food, meet new people, and fall in love with cities we’d previously never heard of makes this industry incredibly resilient. Let yourself dream a little, you’ll be back on a flight before you know it.