SINGAPORE 21 December 2022: Agoda will introduce a new ‘Price Freeze’ feature on its desktop and mobile web platforms by early 2023.
It involves a collaboration agreement with Hopper Cloud and is part of Agoda’s ongoing efforts to provide travellers with more choice, flexibility, and better pricing options.
Agoda users gain a price freeze on accommodation before confirming the booking. 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 the consumer can continue with the booking.
Throughout the price freeze, accommodation costs may fluctuate, but consumers won’t pay any more than the agreed deal and will enjoy additional savings should help the price drop. If travellers choose not to book within the specified price freeze period, their initial deposit is forfeited.
“There are times when consumers aren’t ready to fully commit to their purchase and need time to decide… By introducing price freeze technology to the Agoda platform, we can offer travellers even greater flexibility, choice and the best prices. Great news for them, and great business for our accommodation partners through increased productivity and conversion”, said Agoda CEO Omri Morgenshtern.
“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 benefit our accommodation, flights and activities partners, as well as consumers. Partnerships, like this with Hopper Cloud, allow 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.
Agoda users can tap the “Freeze Price” button on an accommodation listing, 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 a choice of bed configuration. Customers tap on “Freeze Price” under each room category to use this function.
Price Freeze is currently being rolled out and is expected to be available on bookings in all participating markets and Agoda platforms by early 2023.