Lemon Tree Hotels' loyalty programme may open doors to new partnerships
- Chairman Patanjali Keswani reveals plans to tie up with airlines and retailers in the future
- The mid-market hotelier is looking to leverage the strength of its loyalty programme
- The three-year old loyalty programme already has a million members, according to the company.
In an exclusive interview with Business Insider, Keswani revealed his future plans. "I can tie up with related companies like an airline and a retailer, and the members of my loyalty programme can redeem points in any of the three purchase points," he said.
The boost to valuation
Aside from opening doors to new partnerships, the loyalty programme may also offer a valuation boost. The now beleaguered Jet Airways' loyalty programme, Jet Privilege, had 8 million member, according to the annual report of 2017-18. However, even before that in 2017, the programme was valued at over a billion dollars.
Lemon Tree Hotels currently has a million 'loyal' customers, but the company's market capitalisation is a little less than a billion dollars.
Keswani is confident that the pace of member addition will only increase in the days to come. "In three years, I have data on a million customers, and am adding half a million customers or more every year. As I open more and more hotels, more and more people will join. Since I am tripling in size in the next 3-4 years, I will start adding 150,000 (loyalty programme) members a month. I will also hit 8-10 million (loyalty members) in the next 5 years," he said.
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