Icanstay works on a business model which has been evolved through partnerships with a large number of premium hotel properties in the four star and five star category.
All those who dream of putting up in a five star but cannot afford it, here's some good news. It is just perhaps Rs 2999 away. Dedicated to help the middle class live their five-star holiday dream, Icanstay.com is helping the ones with not so deep pockets buy stays in five-star hotels.
Icanstay works on a business model which has been evolved through partnerships with a large number of premium hotel properties in the four star and five star category. Users can purchase an open voucher valid for 11 months, which can be utilised anywhere in India with 4/5 star partner hotels for as low as Rs 2,999 per night stay. The voucher comes with no terms and conditions and taxes attached.
“Icanstay.com is strongly placed to help hotels fill their vacant rooms and increase their yield per room. As per the latest HVS study 38% of inventory in India in the category remains vacant. So with travel increasing rapidly, both business as well as pleasure, the model envisages a strong growth in the medium term,” said Puneet Gupta, COO and co founder at icanstay.
Each voucher purchased comes with a five wish list window where one can choose holiday dates and places. The other format of purchasing a voucher includes booking holidays anytime for a window of three immediate days. However, one can only choose the location of the stay and not the brand they want to stay with.
Some of the brands icanstay is working with includes the likes of Radisson, Trident, Holiday Inn.
The company’s business model and its marketing strategy dovetails with the hotel industry’s need to increase occupancy, especially during lean seasons.
“The Indian branded luxury hotel segment has a capacity of 1.25 lakh room nights per day, of which about 38 percent go unoccupied. That amounts to an opportunity loss of over Rs 10,000 crore to the industry. The website acquires unsold room inventory from luxury hotels and provides them via its vouchers to the mass consumer segment, thus bridging the gap between supply and demand. The affordable price of Rs. 2,999 remains unchanged irrespective of season and city,” added Gupta.In the last six months, the brand has sold 5600 vouchers to 3800 clients with 28% of repeat clientele.