Goibibo, India’s leading online travel brand, has introduced an industry-first feature, Price Lock to help customers lock flight fares up to seven days before they firm up their travel plans. The feature has been designed to help customers make smart travel decisions by allowing them to book air travel by reserving their seats without paying for the actual price of the ticket upfront. Price Lock further secures flyers against any price hike by allowing them to purchase the ticket at the same locked-in price later.
With an aim to make travel choices easier and more flexible, the unique service helps address a major dilemma faced by travellers – should they wait or book flights and consequently risk fare hike. Price Lock provides more time and fare hike protection as customer takes a final call on scheduling travel. The service allows customers to lock airfares for one, three or seven days for a nominal fee – that later gets adjusted into the full price of the ticket at the time of the final purchase.
For instance, a customer purchases three-day Price Lock at INR 180 on 25th July for travel between Delhi to Bengaluru on 3rd August. On the said day the air ticket was priced at INR 5000. However, on 28th July when the flyer returns to confirm the booking the new price of the ticket is INR 6000. In this scenario, the flyer will benefit from reserving the fare by only paying INR 4820 [INR 5000 – INR 180 (Price Lock fee) = INR 4820] instead of the new airfare [INR 6000].
Commenting on the rollout of Price Lock, Saujanya Shrivastava, Chief Operating Officer – Flights SBU shared, “We are always looking at ways in which we can make the flight booking experience delightful. 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. Our new offering 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.”
Goibibo is India’s leading online travel booking brand providing range of choice for hotels, flights, trains, bus and cars for travelers. Through its mobile app and website, travellers can search, plan and book a wide range of travel services and products in India as well as overseas. Goibibo’s core value differentiator is its most trusted user experience, be it in terms of quickest search and booking, fastest payments, settlement or refund processes.