Goibibo Launches its Price Lock Feature

Goibibo, India&rsquos leading travel organisation, has launched a feature that enables travellers to secure their flight-seat/s, and lock their fares against the cost of a minimal fee. In short, a passenger can reserve their seat for a period of one, three, or seven days without having to pay for the entire price of the ticket.

This feature safeguards them from any future inflation in prices, and allows them to purchase the ticket at the same locked-in price at a later date. An attempt at securing customers against price hikes, this service allows them a buffer-period to schedule their tentative travel plans, and arrive at a decisive decision.

Commenting on the rollout of the feature, Saujanya Shrivastava, COO, Flights SBU, stated, "The Price Lock feature is indeed an innovative and relevant solution that will appeal to those customers who cannot book right away but would like to seek some form of price protection until they firm up their decision to travel. Today, travellers are spending more time weighing multiple parameters before finally making a booking and increasingly expect flexible options so that they can plan better. Price Lock is a useful way to get more time and save money as one can lock a favourable airfare for up to seven days while they make an informed decision to travel.&rdquo

Price Lock takes into account a number of factors past booking behaviour and preferences, traffic on a certain route and sector, seasonality, and advance purchase period, and couples these with data and predictive analytics solutions to calculate the air-lock fee for a particular booking.