In the race for cheap airfare, it’s you vs. the machine
Travel providers now use artificial intelligence software to re-price their offerings, sometimes dozens of times a day, to maximise revenue. For business and leisure travellers, the result is a variation of the cat-and-mouse game, where travel companies are almost always the cat. Traditionally, hotels and airlines priced their offerings depending on peak demand periods, past sales data and the number of current reservations. Now, changes in travel pricing are being made much more frequently. The practice, called “hyperdynamic pricing,” is poised for significant growth, said technology consulting firm AlixPartners. According to research by Hopper, the average price of a domestic flight changes 17 times in just 2 days, while international flights change a dozen times in that span. <br/>
https://portal.staralliance.com/imagelibrary/news/hot-topics/2020-01-28/general/in-the-race-for-cheap-airfare-it2019s-you-vs-the-machine
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In the race for cheap airfare, it’s you vs. the machine
Travel providers now use artificial intelligence software to re-price their offerings, sometimes dozens of times a day, to maximise revenue. For business and leisure travellers, the result is a variation of the cat-and-mouse game, where travel companies are almost always the cat. Traditionally, hotels and airlines priced their offerings depending on peak demand periods, past sales data and the number of current reservations. Now, changes in travel pricing are being made much more frequently. The practice, called “hyperdynamic pricing,” is poised for significant growth, said technology consulting firm AlixPartners. According to research by Hopper, the average price of a domestic flight changes 17 times in just 2 days, while international flights change a dozen times in that span. <br/>
