Today, hotel booking platform Arbitrip announced the launch of their ‘Price Monitoring’ feature, which automatically re-books hotel rooms for businesses if the price has decreased, or a better room becomes available. A first within the industry, Arbitrip are the only provider within the UK offering this service as a free built-in feature.
Founded in Israel and trading locally throughout the UK, Arbitrip is a tool to streamline business travel hotel bookings for companies around the world. The platform uses machine learning algorithms to study user preferences and booking requirements so they can individually match each hotel booking. Travel managers can then choose the hotel they want based on previous business traveller reviews, and then pay and track all bookings throughout the company through one centralized dashboard.
Arbitrip, which is free to use for all businesses, ensures that companies are booking the right hotels, at the best prices – customers save an average of 23.5% using Arbitrip, compared to leading OTA’s like Booking.com. The new Price Monitoring feature will be unveiled during The Business Travel Conference 2019, where they will be exhibiting.
Speaking of the news, CEO Benny Yonovich said, “Hotel prices are just as volatile as stock prices. Often, we see prices of hotel rooms drop due to changes in supply and demand in specific areas. We are leveraging on this phenomenon to ensure our customers get the best price, every time.”
The Price Monitoring feature comes at no extra cost for customers. Once a reservation is made, Arbitrip constantly monitors the price and automatically re-book if applicable.
It is projected that half of all hotel bookings will be made online by 2022. Therefore, it is essential that businesses are taking advantage of technology such as Arbitrip in order to improve efficiency, save money and increase saleability.
Benny continued, “Businesses want to know they’re getting a good deal at a good hotel. It’s quite simple, however a lot of travellers are sceptical about booking hotels because the process is clunky, they don’t trust the reviews, or they are hit with hidden costs. Arbitrip is simplifying travel management for anyone organising business travel, because booking a hotel shouldn’t be an arduous task.”