In the interest of Indian hospitality ecosystem, Noesis Capital Advisors as a responsible hotel investment advisory firm in India has taken up a nonprofit sustainability initiative to launch "Pay Today Stay Later" program which is meant to encourage travel enthusiasts across the country to extend helping hand to their preferred hotels in this difficult time by buying Hotel credit vouchers. This will generate cash liquidity for the hotels to meet their fixed expenses like staff salaries. In return, hotels will incentivize the purchasers of these credit vouchers. This is an industry-wide program for hotels all over India.
“As a traveller, it's an opportunity to help their favourite hotels and to support hotel’s housekeepers, Chefs, Reception desk team, security personnel, bartenders and everyone who keeps the hotel running as they are the ones who contribute to their beautiful memories of their stay at the hotel. Travellers money spent under this initiative will go farther and be put to even better use in the interest of Indian hospitality ecosystem as this sector jobs 10 million people, says Nandivardhan Jain, CEO, Noesis Capital Advisors.
These hotels credit vouchers willbe sold now for INR 10000 and will have a value of INR 15000after the 30-day maturation period. It's up to each hotel to specify any expiration, blackout dates, restrictions, etc. As of now, the ability to purchase credit vouchers will last through September 30, 2020, but each hotel can stipulate when they stop selling credit vouchers. People can also purchase multiple credits vouchers, but each hotel can decide if they want to put a cap on the number of credit voucher people can buy.
There is no commission structure here - 100% goes directly to the hotel. After flowing through our website, the relationship with the consumer is of the hotel only. Preferred properties for this platform will be hotels/resorts in leisure markets and key metro cities.
“Currently, 150+ hotels are live on our platform and we are considering requests from 300+ more hotels. The Pay Today, Stay Later platform is being updated in real-time as more hotels are confirming participation. People will be reaching out to hotels directly via email to purchase through our website”, adds Nandivardhan Jain.