When consumers book travel accommodations today, it’s typical that the site with the lowest price is the one that sees gains in number of users.
Whether it’s Expedia, Hopper or Priceline, the travel booking industry can seem a little overwhelming for people looking to book their next trip.
One company that’s hoping to blow all the other travel booking apps out of the water is LA-based startup company FinalPrice, founded by Peter Kutis. This week, the company announced news of its latest round of funding with $4 million from Almaz Capital, Sistema VC and other private investors.
FinalPrice’s key differentiator from sites like Expedia is the fact that it’s a $99 annual subscription-based service that works to get the best travel deal for consumers without a continual fee factored into the total amount paid per transaction. With the funding from Almaz Capital and Sistema VC, the company will utilize AI to tailor its promotional offers based on users’ past travel histories.
CEO Peter Kutis, commented on the app’s role in today’s subscription plan model: “We want to become the Amazon Prime of travel. A subscription approach to travel offers better prices and better loyalty. No more ‘spend more to save more,’ last minute deals or excluded taxes. You don’t have to be ‘Genius’ traveler to get fair prices. All the commissions we get from the suppliers are returned to customers as a discount or cashback.”