As the coronavirus situation in the country has eased, travel and hospitality firms which bore the most brunt amid the pandemic are coming out with novel schemes in order to woo travellers and revive the sector.
Travel firms including the likes of SOTC and Thomas Cook have unveiled an innovative 'holiday first and pay when you return" scheme. The scheme has been launched in partnership with NBFC firms. As part of the scheme travellers have an option to pay for the travel once they return from their holidays.
"These NBFCs will examine the credit worthiness of people seeking to avail of this offer. People with good credit worthiness will need to pay 15-20 percent of the cost of their domestic package and the balance on return to the NBFC without any extra charge or fee if the entire remaining amount is paid in one go. If they seek to pay in EMIs, only in that case will the NBFC charge interest," Abraham Alapatt, President and Group Head (Marketing), Thomas Cook India told a leading business daily.
Apart from addressing the financial risk associated with making travel bookings amid the pandemic, this travel scheme also pays heed to health and hygiene concerns. Through its TravShield feature- the company commits to provide travel safety and for the same it has partnered with Apollo Clinics.
It is to be noted that travellers who fail to pay for the travel/ holiday once they return from their holidays will be penalized in the same way as loan defaulters and this will have a negative impact on their creditworthiness.
Last year, abrupt cancellation of travel bookings, delayed refund were some of the problems faced by air travellers.