NEW YORK & SEATTLE--(BUSINESS WIRE)--Ultramar Travel Management, a multi-national travel management company, today announced the launch of RoomIQ™, a hotel rate tracking solution that’s powered by Intelligent Price Tracking™ technology from Yapta. Through its partnership with Yapta and its access to RoomIQ, Ultramar will enable corporate clients to identify and capture savings when booked hotel rooms drop in price.
“Ultramar has played a very important role in the development of RoomIQ, providing critical insight and key customer feedback that was essential to the final product,” said James Filsinger, President and CEO of Yapta. “Our customer-centric approach to the RoomIQ development process has delivered a solution that is highly-tailored for the enterprise, and extremely effective at securing savings for Ultramar customers.”
RoomIQ automatically monitors the same hotel property for lower rates within the GDS, alerting to lower prices on comparable room types – while taking into account negotiated rates and highlighting the financial impact of amenity gains, such as parking, internet access and breakfast. The unique rate-level amenity comparison functionality allows travel managers to see the real value of amenities for additional and more accurate identification of savings opportunities, instead of limiting available rate comparisons strictly at the property level.
Companies using RoomIQ to monitor the price of their hotel bookings during the technology’s beta have realized an average savings of $109 per booking (2.4 room nights on average), with an opportunity to save on approximately 12% of all hotel bookings tracked.
“Our recent customer success with FareIQ – Yapta’s airfare price monitoring solution – was a catalyst for our early involvement with RoomIQ,” said Michel Botbol, Ultramar’s President. “And since RoomIQ integrates seamlessly with FareIQ, there’s no additional setup for existing customers to use both services. It’s a true no-brainer.”
Since introducing FareIQ to its customers, Ultramar has identified over $2 million in savings – of which nearly $1 million was realized. With the addition of RoomIQ, Ultramar customers will now also have the opportunity to save up to 58% on their hotel bookings without switching hotels.
“We think that the combination of FareIQ and RoomIQ will be a very unique and significant source of savings for our clients this year,” Botbol said. “When used together, it could be game-changing. In fact, our first client to use both technologies has already saved a total of $51,000 in just a few months – with FareIQ delivering $39,000 in savings, and RoomIQ $12,000 in savings.”
About Ultramar Travel Management
Founded in 1947 and headquartered in the heart of New York City, Ultramar Travel Management, a division of Travel and Transport, Inc., specializes in developing and managing custom-tailored, innovative global corporate travel programs for organizations that demand the very best in high-touch service, cutting-edge technology solutions, and significant cost-savings. To learn more about Ultramar, visit ultramartravel.com.
Yapta is a pioneer in airfare and hotel price assurance services for travelers. Launched in 2007 as the travel industry’s first airfare price tracking and refund alert service, Yapta has delivered more than $550 million in airfare savings alerts to consumers. Today, Yapta’s Intelligent Price Tracking™ technologies, FareIQ and RoomIQ, are helping companies reduce spend and extend their T&E budget by constantly tracking booked airfares and hotels and flagging lower rates when they become available. For more information about Yapta, visit www.yapta.com.