Citibank Launches New Rewards Platform with Travelguru

Mumbai, Maharashtra, India, Monday, November 03, 2008 -- (Business Wire India)

Citibank India today announced the launch of Citibank Travel Rewards, a first-of-its-kind rewards platform for its cardholders which will not only fulfill their wanderlust but also earn them handsome reward points and discounts on their spending on hotel and holiday packages. Citibank has launched this new platform in association with Travelguru, India’s largest hotel network and premier travel portal. The platform is hosted exclusively for Citibank Cardholders at www.travelrewards.co.in.

Among some of the major benefits of Citibank Travel Rewards are:

-- Accrual of triple reward points on hotel and holiday package bookings done using any Citibank credit card through Citibank Travel Rewards.

-- A unique opportunity for instant online redemption of reward points earned on all Citi-branded cards against purchase of hotel and holiday package bookings.

-- Convenience of a dedicated toll-free helpline to consult a travel specialist.

-- An assured discount voucher of up to Rs.5,000/- on registration at www.travelrewards.co.in.

Announcing the launch of Citibank Travel Rewards programme, Sandeep Bhalla, Business Manager, Cards, Citibank India, said, "With increasing disposable incomes, leisure travel has been on the rise in India and has become an exciting and memorable way for families to spend quality time together. However, due to work commitments and time constraints, customers have begun to seek out holiday planning solutions that give them choice and convenience at their fingertips. This is why Citibank has designed an exclusive program with Travelguru for our cardmembers aimed at ‘enhancing the joy of being with family’. Making the proposition even more compelling and a sure win for our customers is the handsome reward point advantage."

Industry research has revealed that approximately 20 percent of spending on cards is on travel and travel-related purchases.

Ashwin Damera, Founder & CEO, Travelguru.com said, “We are delighted to partner with Citibank, India’s premier bank and the pioneers of the card industry in India. As India’s largest hotel network, Travelguru has been constantly innovating to provide customers enhanced value as well as facilitate a seamless hotel and holiday booking experience. The Citibank Travel Rewards programme allows all Citibank credit card customers in India to do smart travel purchases of hotels and holidays through Travelguru. The win-win partnership synergizes the strengths of both organizations: Travelguru’s hotels and holiday expertise with Citibank’s key strengths in consumer networking, universal brand presence and product advancement. It not only benefits the customer with exclusive travel deals but also incentivizes them with triple reward points on every transaction they make. Also, it allows Citi-branded cardholders to instantly redeem their Citi reward points for hotel bookings, a first-of-its-kind in India.”

Travelguru.com

Travelguru - India’s largest hotel network - offers access to over 4000 hotels in India and over 72,000 hotels worldwide. It offers travelers the opportunity to plan and purchase their travel in a transparent, easy and customizable manner with instant bookings and confirmations. Strategic partnerships and deep supplier relationships give Travelguru the edge as an aggregator of travel services. Sorting hotels by user reviews and several other criteria are some of the distinctive value-added services. In December, 2007 Travelguru fully acquired Desiya.com - a company focused on hotel aggregation, distribution and technology to further strengthen the leadership position in hotel distribution. Travelguru facilitates a wide range of travel options and recommendations for domestic as well as international travelers. The Travelguru hotel advisors guide you to the most convenient place to stay including rates, amenities, landmarks and so on across India. It promotes properties from budget to luxury, single room to serviced apartment, business accommodation to leisure houseboat. www.travelguru.com.

Citi

Citi, the leading global financial services company, has some 200 million customer accounts and does business in more than 100 countries, providing consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, and wealth management. Citi's major brand names include Citibank, CitiFinancial, Primerica, Smith Barney, Banamex, and Nikko. Additional information may be found at www.citigroup.com or www.citi.com.