Airlines use dynamic pricing to sell seats. The prices go up when demand is high but when they have seats to fill, prices are lowered to entice more people to purchase tickets. Hopper is a travel app that uses artificial intelligence to predict prices and get you the best deal possible. It previously offered this for airfares and is now expanding AI-based price predictions for hotels across the globe.
Hotels also rely on dynamic pricing much like airlines. Prices are jacked up when there’s ample demand because people are willing to pay more for a room. You would have experienced that if you’ve ever been in a city that’s hosting a major convention, for example, think MWC in Barcelona every February.
Hopper’s AI-based prediction pricing can thus be utilized for hotel bookings as well. Properties tend to price down their rooms when they have more availability than demand. Empty rooms don’t make them any money, obviously.
Hopper now offers predictions for room prices at more than 270,000 hotels in over 200 countries and territories. Not only does it predict the prices, it even allows customers to book rooms directly through its app.
Users will be able to filter their searches by rating, price, amenities offered by the property, and the neighborhood. The company says that people who use its service to book at the right time will save $62 per night on average off the peak rates. It recommends that users set up price monitors and the app will then send them push notifications when their desired price level is reached so that they can book at the rate they want.
Filed in . Read more about Artificial Intelligence. Source: media.hopper