menu

Service Lets Travelers Lock In Fares Without Purchase

Service Lets Travelers Lock In Fares Without Purchase
travel

Options Away is a service that guarantees an airfare for a specific amount of time, and can purchase the tickets at a later date if desired.

Daniela Walker
  • 7 january 2014

Buying airplane tickets online can be a nerve-wracking affair – is now the right time to buy? Will the prices go up? Will the prices go down? Chicago start up Options Away looks to alleviate some of the stress by letting customers lock-in airfare for up to three weeks, reserving tickets and then giving them time to think about their travels before purchasing.

Currently only available on domestic flights, but expanding to international flights this spring, Options Away lets customers lock in certain fares from one to three to 21 days, all at varying cost. Obviously, the longer you choose to hold a fare, the more expensive the fee is ($36 for the longest hold).

Currently, United Airlines, Air France and KLM all have different fare guarantee programs, but it remains a fringe trend in airline travel. Robert Brown and his wife Heidi, who started the company together in September, hope to take it mainstream. Mr Brown told Bloomsberg Businessweek that the main appeal lies in the convenience.

The program offers ease of mind to ‘people who are planning complex trips, especially if there are a lot of people involved, or if they’re trying to coordinate multiple elements of a trip, like a cruise or a sightseeing option,’ he said.

Brown also sees his company as a data-gathering goldmine. From seeing what flights people reserve prices for and which ones they end up purchasing rather than let expire, demand could be determined and could affect pricing. Says Brown:

In 18 months, I like to think we will have a set of data that is of huge value.

Options Away

Source: Bloomsberg Businessweek

Image: The Option Specialist

travel
Trending

Volvo's Self-Driving Trucks Will Soon Be Put To Work In An Underground Mine

Automotive
Automotive Yesterday

Toyota Is Using Sewage To Power Its New Electric Car

A new hydrogen-fueled vehicle is driven by what we flush away

Culture Yesterday

Catch A Concert On This Small Floating Island

A man-made archipelago in Italy is hosting music and art performances

Trending

Get PSFK's Related Report: Future of Automotive

See All
Design & Architecture Yesterday

DIY Kit Lets You Build Your Own Wooden Bike, Boat Or Caravan

Woodenwidget says its detailed guides are suitable for beginners and experienced woodworkers alike

Design Yesterday

Crash-Friendly Drone Made From LEGOs Is Completely Rebuildable

The clever device offers games, education and the uniquely rewarding experience of destroying your high-flying airship

Fitness / Sport Yesterday

Free Sneakers Given Out To Motivated Marathon Runners

Strava will give the shoes to athletes who run the second half of their race faster than the first

Culture Yesterday

Someone Invented A Robot Just To Serve Trays Of Beef Jerky

Boston Red Sox star David Ortiz, in partnership with Chef's Cut Real Jerky, creates an automated snack delivery system

PSFK LABS REPORT

Future Of Automotive
Scenarios Driving The Digital Transformation Of An Industry
NEW

PSFK Op-Ed Yesterday

Digital Design Expert: Mobile First Is Dead, Think Mobile Native

Brian Cooper, chief creative officer of OLIVER Group UK, explains how some brands are still playing catch-up to new technology

PSFK Labs Yesterday

The 10 Steps To Discover, Hire, Develop Your Next Leader

PSFK's Future of Work report outlines key steps in the employee development path to empower next-gen leaders

Millennials Yesterday

Why A Social Networking Site Decided To Rebrand

Meetup, a platform that connects like-minded individuals, has taken steps to stay relevant amongst millennials

Work Yesterday

Editorial Roundtable: The People-First Workplace Should Borrow From Tradition

Managed By Q, Soma, Workbar, Primary, AltSchool and thinkPARALLAX underline the old-fashioned ideas that deserve a place in the Future of Work

Fashion Yesterday

Handbags Crafted From An Old NFL Stadium

People for Urban Progress is an up-cycling program that tackles the waste problem of big demolitions

Work Yesterday

Tech Job Site Created Just For Those Who Are Older Than 30

A new occupational job board presents a creative solution to age discrimination in the tech world

Europe Yesterday

Architect Turns A Giant Smile Into A Public Exhibition

The structure offers visitors a new perspective of London and creates an immersive environment that integrates structure, surface, space and light

PSFK LABS REPORT

Future Of Work
Cultivating The Next Generation Of Leaders
NEW

Children Yesterday

Norwegian Kids Are Using Their Phones To Log Unsafe Street Conditions

Travel Agent is an app that gamifies the reporting of hazardous conditions to improve the safety of children's commute to school

Travel Yesterday

Google Wants To Help You Plan Your Next Trip

A new app curates vacation itineraries and organizes reservation emails to take the work out of planning a getaway

Technology Yesterday

Small Handheld Analyzer Checks Oral Hygiene On The Go

The breath-detecting gadget gives people a quick and easy peek into their dental health

No search results found.