The Buy Now, Stay Later initiative gives travel enthusiasts around the world the opportunity to support their favourite hotels and resorts by purchasing hotel bonds.
As the hospitality industry faces unprecedented challenges, a group of hospitality professionals have teamed up to spearhead an international initiative called Buy Now, Stay Later. The campaign encourages people to purchase hotel bonds as a way to support some of the most popular properties around the world.
How it works: People can purchase a hotel bond today at one of the participating hotels, at a rate of $100. Once they are ready to book a stay at a later date (and after the 60+ day maturation), the hotel bond will be worth a value of $150. (Essentially, you purchase a gift certificate for $100 and receive a $150 value.). Consumers can buy 5 bonds if they want for one hotel, which would be $500 and worth $750 in 60 days.
The Buy Now, Stay Later website features a list of participating hotels while also allowing additional properties to continue signing up. Hotel bonds can be purchased by following instructions on the website to email hotels directly.
Properties worldwide are joining the Buy Now, Stay Later campaign. Such as Casa Violeta (Tulum, Mexico), Eastwind Hotel & Bar (Windham, NY), LondonHouse Chicago (Chicago, IL), Le Barthelemy Hotel & Spa (St. Barth’s), Cuyama Buckhorn (New Cuyama, CA) and more.
“These last few weeks have been devastating to the hospitality industry and everyone that is connected to it in some way. Our Public Relations network brainstormed a few ideas to support our industry as a whole.
With the support of people who love adventure and travel, we can show hotels we are here for them during these tough times and that we’ll be back to stay with them as soon as we can. Please consider supporting your favourite hotels through the ‘Buy Now, Stay Later, initiative.” — Rachel Harrison, Lion & Lamb Communications.
A little history of how bonds began in the US
The sale of US gov securities to the public dates back to almost 200 years ago. In 1776, citizens purchased more than $27 million in government bonds to help finance the American Revolution. In this case, one could argue that we are battling our own revolution against this virus — especially in the hospitality sector, which employs so many people around the globe.
These bonds, 200 years ago, were bought mostly on trust. Citizens were unsure as to whether they would ever see their money again. But — in one of the greatest traditions of US unity and trust, the US government paid all of their obligations in full after the war. Thus began one of America’s proudest and most lasting traditions: the pledge of our nation’s full faith and credit standing behind every government obligation.
Similar to the treasury savings bond, the idea is to purchase a hotel bond today, to be redeemed at a later date. Each bond would be billed at $100 (£80) and in 60 days of maturation, would be valued at $150 (£120).
Buy Now, Pay Later website information
We’ve been informed that all bookings go directly to each hotel. No money passes through the Buy Now, Pay Later website, or to the agency. While on the website, the button below each hotel entry will send you directly to a hotel email address where people can purchase from the hotel directly.
For more information or to purchase a hotel bond, visit https://buynowstaylater.com.
Read more hospitality-related articles and guides in our dedicated section here.
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