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Pay now, stay later: Hotels hit hard by coronavirus pandemic selling bonds for future travel

Pay now, stay later: Hotels hit hard by coronavirus pandemic selling bonds for future travel By Lori Rackl, Chicago Tribune © Jose M. Osorio/Chicago Tribune/TNS Lobby and reception area at the Hotel Julian, a 218-room boutique hotel in the former Atlantic Bank Building in Chicago, on Wednesday, Oct. 30, 2019. Hotel Julian is offering bonds for future stays. CHICAGO Either closed down or operating with most of their rooms empty, hotels are finding ways to put cash in their pockets now for services provided later, spawning some enticing deals for consumers. Take the 452-room hotel LondonHouse Chicago. It’s offering “bonds” that people can buy in $100 increments. Once those bonds mature after 60 days, they’re worth $150 a quick 50% return on investment. When the coronavirus crisis subsides and guests are ready to book, they can use the bonds to pay for everything from overnight stays to room service and drinks at the hotel’s rooftop terrace ove

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