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Renting can have its rewards. A new luxury hotel booking platform designed for its premium subscribers has been rolled out by Bilt Rewards, a rapidly growing loyalty program that offers members reward points whenever they pay their monthly rent.
Home Away From Home, the new platform, which was announced at the startup’s current headquarters in New York City on Wednesday, provides members with access to a curated collection of more than 1,700 high-end hotels around the globe, including Le Sirenuse in Positano, Italy, Singapore’s stately Raffles, and Auberge du Soleil in Napa, CA.
Created in partnership with Virtuoso, a luxury travel network, Home Away From Home allows Bilt’s gold- and platinum-level members to use their accrued loyalty points, cash, or a combination of both, to book airline tickets, hotel rooms, and local activities and experiences through the sleek new online portal.
“It is the best-in-class end-to-end travel experience in the market,” says Bilt founder and CEO Ankur Jain.
Bilt members booking trips through the platform are eligible for a host of perks, including early check-in and late check-out, room upgrades, daily complimentary breakfast for two, and a $100 food and beverage credit at select properties.
During an hourlong presentation of the new platforfm attended by Realtor.com®, Jain and Bilt Vice President of Travel Richard Kerr offered an in-depth look at the inner workings of Home Away From Home.
(Bilt Rewards)
The demonstration showed how a customer looking to book a trip would be able to use an online concierge service supported by a travel adviser from Virtuoso to arrange ground transportation from the airport to the hotel, customize their accommodations, and make reservations at top-rated neighborhood restaurants and bars.
“And all of that comes as part of the hotel booking,” says Jain. ”There’s no extra costs, no trip planning fees, none of that.”
According to the Bilt execs, the overarching goal is to “seamlessly” combine flights, hotels, and neighborhood benefits into all-in-one itineraries while providing real-time assistance through text, email, and in-app messaging.
“I don’t think any of us want to go to a third-party call center that’s overseas and try to explain that I just had a schedule change,” says Kerr.
Later this year, Bilt plans to roll out personalized neighborhood guides featuring hidden dining hot spots where the locals hang out and curated cultural experiences tailored to each member’s preferences.
Home Away From Home is currently available only for Bilt’s top-tier members who have at least 125,000 earned points.
Kerr reveals that Bilt’s gold- and platinum-tier members have an average annual income of $300,000 to $400,000—a coveted demographic that hotel groups are eager to reach.
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Earlier this year, Bilt introduced two initiatives offering perks to college students and recent graduates.
Students on campus paying their rent on time are eligible to earn reward points, which can be used toward meals, ride-share payments, and travel.
“Rewards on your rental payments on campus is going to resonate with students unbelievably well,” Jain told Realtor.com in April, as the program was set to debut at Baylor University in Waco, TX.
Bilt’s valuation surges as startup finds new home
July has been a big month for Bilt. Just days before launching its travel program, the 5-year-old startup’s valuation more than tripled, to $10.75 billion, after its latest round of funding netted $250 million.
In its previous funding round in January 2024, Jain’s company secured a valuation of $3.1 billion, reported Reuters.
Bilt says the latest cash infusion will help accelerate its expansion plans, which include extending its platform to condos, homeowner associations, student housing, and mortgages.
During the travel platform’s unveiling on Wednesday, Jain also revealed that Bilt will soon be moving into a new headquarters: a gleaming six-story, 52,000-square-foot, glass-and-steel building in Manhattan’s trendy Meatpacking District.