I don't think I would use this for staying at this hotel-- we live just an hour away from Knott's. But I could see using a payment plan for a bigger trip or a cruise. I think I'm just used to using a credit card for most kinds of travel expenses.
This model seems to be catching on.
This is also a great business decision by the corporation. They will have your monies in an account getting some extra interest until you use the room. Plus once you pay for it, you are committed to going to their park for a vacation. No changing your mind… I bet they have a policy of not giving you your money back, probably just give you a credit it the hotel if you change your mind. Anyone read the policy for cancelation after payment? I am wondering…
All this does is put money that you could set aside in a bank or other investment in Cedar Fair's hands. Why would anyone do that, and if there's no perceived benefit (lower rate, upgraded accomodations, or frequently sold out property), why does Cedar Fair think anyone would do this? Are people really that dumb with their money that they would fall for this gimmick?