‘Buy now, pay later’ mannequin extends to journey

Tom Botts posing with a gaggle of scholars after a espresso chat whereas serving as an Entrepreneur in Residence. Photo credit score: Provided.

After greater than 20 years in hospitality and journey — becoming a member of entrepreneurial startups like Hotwire, co-founding Hudson Crossing and dealing with established manufacturers corresponding to Miraval Resorts (bought to Hyatt) and Starwood Hotels & Resorts — I discovered myself drawn again to what energizes me most: constructing. That pull led me to a really early-stage startup known as Uplift.

Uplift (now Flex Pay by Upgrade) was based on a easy however highly effective entrepreneurial perception: journey is significant, however entry to it isn’t equal. By permitting customers to pay for journey over time, Uplift aimed to take away a key barrier and unlock demand. For me, becoming a member of Uplift meant pivoting from conventional journey suppliers and distributors into monetary know-how — however it was a pivot rooted in leverage. Every lesson I’d realized throughout many years in journey turned an asset as we labored to construct what would turn out to be the biggest travel-focused “buy now, pay later” platform within the {industry}.

Like most startups, our early success relied on getting the basics proper. We obsessed over product-market match, constructing an answer particularly designed for the complexities of journey. Integrating with legacy reserving engines, international distribution techniques, stock companions and name facilities wasn’t glamorous, however it was important. This deal with fixing industry-specific issues allowed us to distinguish ourselves from a lot bigger, better-funded rivals.

Equally necessary was assembling the precise crew. We constructed a world-class group of journey professionals who didn’t simply perceive the {industry} — that they had lived it. That credibility allowed us to interact companions not as distributors, however as friends. In entrepreneurship, belief compounds shortly when the folks throughout the desk know you’ve been of their footwear.

With the precise product and crew in place, we scaled, making a multibillion-dollar enterprise supported by partnerships with a few of the most revered names in journey, together with Carnival Cruise Line, Sabre Hospitality, United Airlines and Southwest Airlines. Each partnership strengthened the concept considerate innovation, when aligned with {industry} realities, can create actual and lasting worth.

But past metrics and milestones, probably the most significant final result was affect. We discuss internally about “opening the aperture” — increasing who will get to expertise journey. By giving folks the pliability to pay over time, we assist households reunite, allow once-in-a-lifetime journeys and make the world really feel extra accessible. One govt not too long ago instructed us, “Adding Flex Pay is one of my proudest achievements in my 47 years at United Airlines. We’ve received letters filled with gratitude from customers who were able to be together when it mattered most.” Those moments remind you why the laborious work is value it.

Of course, the entrepreneurial journey was something however linear. There have been misplaced offers, inner conflicts, capital challenges, and moments when quitting felt just like the rational selection. What saved me shifting ahead was readability of mission. When the aim is robust sufficient, it turns into an anchor throughout uncertainty.

What started as Uplift is now Flex Pay by Upgrade, following our acquisition simply over two years in the past by the bigger fintech. While integrating two equally named manufacturers got here with its personal challenges, the enterprise is stronger for it — and we now stay up for a possible preliminary public providing within the subsequent 12 to 18 months.

Yet an important factor hasn’t modified. Entrepreneurship, at its core, isn’t nearly constructing firms — it’s about fixing significant issues in a means that scales. By combining a world-class crew, purpose-built know-how and deep partnerships, we’ve created a worthwhile, sturdy enterprise that expands entry to one thing deeply human: the power to attach, discover and expertise the world. That’s the type of firm value constructing — and rebuilding — time and again.

For entrepreneurs in hospitality, the lesson is obvious: Enduring companies are constructed on the intersection of {industry} fluency and actual human want. Innovation doesn’t at all times imply reinventing journey itself — it typically means rethinking entry, eradicating friction and modernizing the techniques that quietly form visitor experiences. The most profitable hospitality startups aren’t those who chase traits, however those who deeply perceive the ecosystem, respect its complexity and remedy issues in ways in which scale. When entrepreneurs pair area experience with goal — and keep anchored to that goal via inevitable setbacks — they don’t simply construct firms; they develop what’s potential for the folks their {industry} serves.

About the creator

Tom Botts, P ’26 is a senior govt, investor, and advisor within the journey {industry}, bringing in depth experience in e-commerce, income administration, and know-how throughout the airline, resort, and on-line middleman sectors. He at present serves as president of Flex Pay at Upgrade, a multi-billion-dollar client lending fintech. His earlier firm, Uplift, was acquired by Upgrade in 2023. Botts holds a bachelor’s diploma in logistics and advertising and marketing from the University of Missouri. He additionally serves on the advisory board of the Pillsbury Institute for Hospitality Entrepreneurship within the Cornell SC Johnson College of Business.