Over 6,500 companies actively monitoring airfare and hotel pricing for a combined savings of $369 per trip.
SEATTLE – Yapta, the leading provider of airfare and hotel price tracking services, announced that its services have delivered $100 million in combined travel savings to more than 6,500 corporate customers. The milestone achievement comes just two years after Yapta innovated hotel price tracking with the introduction of RoomIQ, pairing it with FareIQ, its award-winning airfare price tracking solution, and becoming the first and only company to provide both airfare and hotel price tracking services.
“Reaching $100 million in actual, bottom-line savings is a significant milestone for both Yapta and the corporate travel industry as a whole,” said James Filsinger, President and CEO of Yapta. “That amazing figure illustrates there’s a lot of money being left on the table as a result of dynamic pricing, and it’s entirely possible for travel managers to capture it before it’s gone. Our technology makes it quick and simple to execute, and the results are hard to argue.”
In February, Yapta expanded its price tracking capabilities to all international points of sale, quickly reaching customer implementations in more than 20 different countries. In March, Yapta introduced the first fully-automated airfare re-ticketing service. The automated service ensures customers achieve maximum airfare savings, while eliminating the need for a travel agent to assist with re-ticketing. And in July, the company rolled out its BestMatch functionality, giving corporate travel managers the ability to “green-light” specific hotel reservations for unassisted re-booking.
“Our vision is to bring confidence to travel, allowing our customers to rest assured they’re getting the most value for their spend,” Filsinger said. “We continue to innovate around our IQ Technology to analyze prices from a number of different angles, includingnegotiated versus public pricing, penalty versus non-penalty fares, and prices inside and outside of the void window, among other approaches. Companies are often surprised at what they discover when given a complete picture of pricing behaviors.”
Companies adopting FareIQ see an opportunity to save on more than 11 percent of all air travel itineraries, with an average identified savings of $260 per ticket. Any savings identified by FareIQ on behalf of its customers are over and above any airline imposed change fees and agency re-booking fees, ensuring customers see true value to their bottom line.
RoomIQ, Yapta’s hotel rate tracking solution, dynamically monitors U.S. domestic and international hotel bookings, looking for rate reductions at the same hotel. Once a savings opportunity has been identified, RoomIQ then issues an alert in the local currency. Companies utilizing RoomIQ are seeing an opportunity to save on approximately 12 percent of all hotel bookings tracked – with an average savings of $109 per booking. Overall, RoomIQ has helped these companies lower their ADR by 4.7 percent.
Both FareIQ and RoomIQ are compatible with global distribution systems from Sabre and Apollo.
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