Pay as you like
The trend of booking hotel rooms is continuously evolving. Neha Gupta Kapoor talks about the latest Indian creations in this space
In January this year, India Brand Equity Foundation (IBEF) reported that tourism in India accounts for 7.5 per cent of the GDP and is the third largest foreign exchange earner for the country”. This sector includes the hospitality industry and is expected to generate US$160.2 billion by 2026.
IBEF is a Trust established by the Department of Commerce, Ministry of Commerce and Industry, Government of India. It says, “Tourism is also a potentially large employment generator besides being a significant source of foreign exchange for the country.” And this is evident in the number of startups who have changed the way room inventories are traded in the hospitality sector. They have brought value to customers looking to book rooms at the last minute, for short stays, or comfortably without burning a hole in their pockets. The focus is on the customers’ needs, thus tailoring results to give you exactly what you desire, straight up, by Àltering out anything that may not match your interest.
Here is a look at three such Indian ventures that have addressed different needs of travellers and are bringing changes to the conventional hotel booking model.
LAST MINUTE
I had to urgently fly to kolkata in two days, and desired a reasonable room rate despite booking last minute. A minimum 4-star hotel category located in Newtown was my criterion. And so, with little hope, I logged on to findmystay.com.
As opposed to a flexible rate of `14,994 inclusive of breakfast and taxes offered by Novotel kolkata Hotel and Residences, I bid `7,000-`9,000 for the same room on Ànd my stay.com. within an hour my email beeped with a conformation for `7,423, inclusive of taxes and breakfast, for Novotel’s Superior room.
The online bidding portal that launched in 2013 draws attention to the large inventory of hotel rooms, from budget to luxury, which remain unoccupied every day, pan-India. Using this to the customer’s advantage, the website says it lets potential hotel guests choose their room price, rather than present prenegotiated room rates to them. “It’s a win-win. The hotels get to sell their unsold inventory and the customers get to experience luxury and comfort for less. You can call it disruption of its kind. :e call it our Mob.”
Currently, Ànd my stay.com has liaised with about 2,500 hotels in 32 Indian cities, including Agra, Bengaluru, Chennai, Goa, Hyderabad, Kolkata, Mumbai, New Delhi, Puducherry, Pune and Udaipur. Courtyard Marriott, Double Tree by Hilton, Four Points, Hyatt, ITC, Le Meridien, Radisson Blu, The Oberoi and Trident are some of the hospitality brands that are listed on this “reverse bidding” portal.
Reverse bidding means getting a quote from the customer which he or she is willing to pay for the service on over. The “agent” then passes the bid to the seller who either agrees or makes a final counter-offer. It is this concept that got the then US-based startup Priceline.com, listed on NASDAQ. The startup launched as Name Your own Price in 1997 and today it has a market value of over US$75 billion.