• Los Angeles Times , Monday, November 24, 2008 10:45 AM

We've been reporting on the comeback of layaway plans at retailers such as Sears and Kmart. Now, the budding save-now-indulge-later mentality is hitting the travel and lodging industry, according to Jane Engle's story.

Hyatt Hotels and Resorts is marketing gift cards and check certificates through eLayaway.com, which manages installment purchases for various merchants and about 75,000 customers, that are good for hotel stays, meals and other services. And about 90% of the clients of Personal Travel, a small travel agency in Greenville, Ind., use a layaway program offered by owner Kimberly Kane.

But layaway plans don't carry the same consumer protections as credit cards, Engle points out. Consumers may have limited recourse if the companies involved commit fraud or go bankrupt, and they may pay service and cancellation fees.

Read the whole story at Los Angeles Times »