Agoda has today announced it is introducing a new ‘Price Freeze’ feature on its desktop and mobile web platforms by the year’s end, following a collaboration agreement with Hopper Cloud. This feature is part of Agoda’s ongoing efforts to provide travellers with more choice, flexibility, and better pricing options, and will allow Agoda users to ‘freeze’ a price on accommodation before confirming the booking.
New to Agoda, the feature allows travellers to search properties on the travel platform and ‘freeze’ prices, for a marginal deposit. The price is ‘locked in’ for a price freeze period of at least one day and up to 14 days, during which time the consumer has the choice to continue with the booking. Throughout this price freeze period, accommodation costs may fluctuate but consumers won’t pay any more than the agreed deal and will enjoy additional savings should the price drop. If travellers choose not to book within the specified price freeze period, their initial deposit is forfeited.
“Asia has re-opened, and the world is back travelling, yet people still want to know that they are getting the best possible deals, and that’s what Agoda always strives to ensure. There are times when consumers aren’t ready to fully commit to their purchase and need time to decide, but we don’t think that should mean they miss out on the best deals. By introducing price freeze technology to the Agoda platform we are able to offer travellers even greater flexibility, choice and best prices. Great news for them, and great business for our accommodation partners through increased productivity and conversion”, said Omri Morgenshtern, CEO of Agoda.
“Technology in the travel space is exciting and challenging. Every day we are collaborating and exploring new ways that technology can make travel more accessible to the benefit of our accommodation, flights and activities partners, as well as consumers. Partnerships, like this with Hopper Cloud, allows us to learn and share ideas and collectively add value to the travel sector as a whole,” Morgenshtern continued.
“Hopper first launched Hopper Cloud, its B2B initiative, in early 2021. The goal is to allow any travel provider to integrate and seamlessly distribute Hopper’s fintech or travel inventory,” said Ella Alkalay Schreiber, GM of Fintech at Hopper. “We are thrilled to partner with Agoda, enabling more consumers around the world to gain the flexibility and cost-saving benefits of our travel fintech products.”
Agoda users can tap the “Freeze Price” button on an accommodation listing and follow the booking flow to pay the deposit and hold the price for the specified price freeze period. In addition, the ‘Freeze a specific room’ allows users to lock in a specific room category, with choice of bed configuration. To utilise this function, customers tap on “Freeze Price” under each specific room category.
Price Freeze is currently being rolled out and is expected to be available on bookings in all participating markets and on all Agoda platforms in early 2023.