Ovolo has become the first hotel company to introduce PlanPay, offering guests a flexible payment plan to cover the cost of bookings before their stay.
In contrast to buy now, pay later (BNPL) platforms that rely on credit, PlanPay allows guests to use their own money to pay in flexible instalments.
The payment system allows guests to lock in room rates ahead of time – up to two years in advance – to protect from any price hikes
“Everyone knows that advance bookings are the key to hotel affordability and that the anticipation of the trip is as much a part of the fun as the trip itself,” said Ovolo Chief Executive, Dave Baswal.
“With PlanPay, you can manage both these elements and control your costs for a hassle-free holiday on your own terms.
“This means those who are struggling to budget can still afford to live their travel dreams effortlessly without waking up to a financial nightmare.”
Guests can dictate the number and frequency of the payments they make and won’t be faced with any penalty fees.
“As the first digital lay-by platform available in checkout, we offer instant approvals, no credit checks, and no penalty fees, which makes PlanPay the best way to eliminate the burden of budgeting.” said PlanPay CEO Gary Burrows.
Ovolo and PlanPay believe the offering will appeal to younger travellers who don’t want to deal with credit cards, as well as families trying to manage their budgets.
Enabled by digital hotel booking engine RoomStay, the payment option aims to make travel more accessible and help hotels secure direct bookings.
“The launch of PlanPay with Ovolo and RoomStay I’s a great example of using technology to better guest experiences and drive more direct bookings,” said RoomStay Founder and CEO, Declan Mimnagh.
“In today’s fast-paced and competitive travel industry, it’s crucial to be at the forefront of technology and digital experiences, and that’s why RoomStay’s hotel booking engine leads seamless technology integrations and accommodates the growing needs of hotels.”