New hotel price freeze tool could save you $100 if rates rise
Over the past year, flexibility has become more important than ever for travelers, and we've seen the industry respond accordingly. Some airlines dropped change fees, travel credit cards added new redemption options and travel companies such as Uber and Airbnb added new features — all centered around flexibility.
Travel planning and booking app Hopper is the most recent company to join the party as it releases a new feature for all app-users today: price freeze for hotels.
The new feature — which has been in beta but fully releases to all users on June 16 — allows travelers to search for hotels on the app and then pay a deposit to lock in that specific price for a specific window of time. If the price rises within the time between you freezing the price and booking your stay, Hopper will cover up to $100 of the difference.
"[Our customers told us] they wanted to travel, but that they didn't feel confident booking," Hopper's head of hotel fintech, Anwesha Bhattacharjee, told TPG. "We realized that our customers needed a way to feel comfortable planning a trip without necessarily making the monetary commitment until they were absolutely ready."
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Here's a breakdown of how it works: Let's say you are planning a trip to New York City to watch the Macy's fireworks show this year, and you find a hotel you think you want to book that is listed on Hopper for $300 per night. You aren't entirely sure you'll be able to get off work to travel yet, so you put down a deposit for the price freeze feature. Three days later, everything is in order for you to make the trip, but the price has risen $50 per night for your planned two-night stay. When you book the hotel through Hopper, you'll only be charged for the original price you locked in. Hopper will cover the $100 difference, and your deposit will act as a credit toward the cost of the stay.
If you decide you don't want to book that hotel, your deposit amount can be applied toward a future price freeze or toward another booking if you decide to go with another hotel instead.
It's important to note that when you use price freeze on a hotel on Hopper, you are not making a reservation with the hotel. The feature is more like price insurance on a particular hotel stay. Your reservation is not guaranteed with the hotel until you book and pay for your room, so you'll still want to book as soon as early use as you can — especially for busy holiday weekends like the upcoming Fourth of July. If the hotel does happen to run out of availability between you putting a price freeze on the hotel and booking, Hopper will refund the deposit you paid.
Deposits vary in price depending on a number of factors, including length of stay and price per night at that hotel. When I poked around the app, I was able to find hotels in NYC I could price freeze for $16 per night. And remember, the deposit will be applied to your booking. Generally, the price freeze tool can be used to lock in a price until seven days before the trip dates or as much as 60 days in advance of the stay.
Price freeze will benefit budget travelers booking last-minute trips the most, especially those traveling in groups where you need to coordinate accommodations for multiple people.
There are, however, a few downsides to consider.
The first is that Hopper is a third-party booking tool, which means you may not receive elite night credits or have your existing status honored when you book a hotel through the app. This won't matter as much if you're a casual traveler with no interest in elite status or if you're regularly booking stays at boutique hotels that aren't part of a major hotel brain, such as Hyatt or Hilton. But if you are an elite status holder or you're trying to make elite status a reality this year, booking direct is always the better option.
Something else to consider is that the price freeze tool will only save you a maximum of $100 on your total booking. So if the price changes $150 for the entire stay, Hopper will only cover $100 of that and you'll still be on the hook for the $50 difference. According to Hopper, customers who use the price freeze tool save on average $43 per stay (or $17 per night), so the savings aren't lucrative.
But even if this specific tool alone doesn't offer hundreds of dollars in automatic savings, it is another addition to Hopper's broader product that helps travelers — especially beginner travelers and budget travelers — plan trips. Hopper uses predictive technology to determine the best time to book with what the company claims is a 95% recommendation accuracy. You can set up alerts for price drops for flight routes and hotel stays, and there is a similar price freeze feature available for flights.
Related: The best flight booking apps
And this tool is only a hint at what is coming up next for Hopper.
"We're always innovating," said Bhattacharjee. "There are a bunch of new products that are either out or on their way."
Hopper is teaming up with Capital One to power the credit card issuer's revamped travel portal launching in the second half of 2021, and it's likely we'll see Hopper's tools — including the new price freeze tool — integrated into the experience for cardholders. Additionally, Hopper plans to roll out the ability to price freeze for specific room types soon.
For road warriors and elite status holders, this tool may not be a gamechanger for you. But budget travelers and beginners who are still experiencing a bit of booking anxiety as destinations reopen and travel returns in some regions of the world can use this tool to help plan trips and get excited about traveling once more — without having to put hundreds of dollars down on a hotel just yet. I personally might put this tool to use the next time I plan out a girls trip with friends, in case prices increase while the group chat comes to a final consensus on whether to book the hotel or not.
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| 3X | Earn 3X Membership Rewards® points per dollar spent on flights booked directly with airlines or on AmexTravel.com. |
| 2X | Earn 2X Membership Rewards® points per dollar spent on prepaid hotels and other eligible purchases booked on AmexTravel.com. |
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There’s a lot to love about the Amex Gold. It’s a fan favorite thanks to its fantastic bonus-earning rates at restaurants worldwide and at U.S. supermarkets. If you’re hitting the skies soon, you’ll also earn bonus Membership Rewards points on travel. Paired with up to $120 in Uber Cash annually (for U.S. Uber rides or Uber Eats orders, card must be added to Uber app and you can redeem with any Amex card), up to $120 in annual dining statement credits to be used with eligible partners, an up to $84 Dunkin’ credit each year at U.S. Dunkin Donuts and an up to $100 Resy credit annually, there’s no reason that foodies shouldn’t add the Amex Gold to their wallet. These benefits alone are worth more than $400, which offsets the $325 annual fee on the Amex Gold card. Enrollment is required for select benefits. (Partner offer)Pros
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Cons
- Not as useful for those living outside the U.S.
- Some may have trouble using Uber and other dining credits
- You may be eligible for as high as 100,000 Membership Rewards® Points after you spend $6,000 in eligible purchases on your new Card in your first 6 months of Card Membership. Welcome offers vary and you may not be eligible for an offer. Apply to know if you’re approved and find out your exact welcome offer amount – all with no credit score impact. If you’re approved and choose to accept the Card, your score may be impacted.
- Earn 4X Membership Rewards® points per dollar spent on purchases at restaurants worldwide, on up to $50,000 in purchases per calendar year, then 1X points for the rest of the year.
- Earn 4X Membership Rewards® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year.
- Earn 3X Membership Rewards® points per dollar spent on flights booked directly with airlines or on AmexTravel.com.
- Earn 2X Membership Rewards® points per dollar spent on prepaid hotels and other eligible purchases booked on AmexTravel.com.
- Earn 1X Membership Rewards® point per dollar spent on all other eligible purchases.
- $120 Uber Cash on Gold: Add your Gold Card to your Uber account and get $10 in Uber Cash each month to use on orders and rides in the U.S. when you select an American Express Card for your transaction. That’s up to $120 Uber Cash annually. Plus, after using your Uber Cash, use your Card to earn 4X Membership Rewards® points for Uber Eats purchases made with restaurants or U.S. supermarkets. Point caps and terms apply.
- $84 Dunkin' Credit: With the $84 Dunkin' Credit, you can earn up to $7 in monthly statement credits after you enroll and pay with the American Express® Gold Card at U.S. Dunkin' locations. Enrollment is required to receive this benefit.
- $100 Resy Credit: Get up to $100 in statement credits each calendar year after you pay with the American Express® Gold Card to dine at U.S. Resy restaurants or make other eligible Resy purchases. That's up to $50 in statement credits semi-annually. Enrollment required.
- $120 Dining Credit: Satisfy your cravings, sweet or savory, with the $120 Dining Credit. Earn up to $10 in statement credits monthly when you pay with the American Express® Gold Card at Grubhub, The Cheesecake Factory, Goldbelly, Wine.com, and Five Guys. Enrollment required.
- Explore over 1,000 upscale hotels worldwide with The Hotel Collection and receive a $100 credit towards eligible charges* with every booking of two nights or more through AmexTravel.com. *Eligible charges vary by property.
- No Foreign Transaction Fees.
- Annual Fee is $325.
- Terms Apply.
Rewards Rate
| 4X | Earn 4X Membership Rewards® points per dollar spent on purchases at restaurants worldwide, on up to $50,000 in purchases per calendar year, then 1X points for the rest of the year. |
| 4X | Earn 4X Membership Rewards® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year. |
| 3X | Earn 3X Membership Rewards® points per dollar spent on flights booked directly with airlines or on AmexTravel.com. |
| 2X | Earn 2X Membership Rewards® points per dollar spent on prepaid hotels and other eligible purchases booked on AmexTravel.com. |
| 1X | Earn 1X Membership Rewards® point per dollar spent on all other eligible purchases. |
Intro Offer
You may be eligible for as high as 100,000 Membership Rewards® Points after spending $6,000 in eligible purchases on your new Card in your first 6 months of Membership. Welcome offers vary and you may not be eligible for an offer.As High As 100,000 points. Find Out Your Offer.Annual Fee
$325Recommended Credit
Credit ranges are a variation of FICO® Score 8, one of many types of credit scores lenders may use when considering your credit card application.Excellent to Good
Why We Chose It
There’s a lot to love about the Amex Gold. It’s a fan favorite thanks to its fantastic bonus-earning rates at restaurants worldwide and at U.S. supermarkets. If you’re hitting the skies soon, you’ll also earn bonus Membership Rewards points on travel. Paired with up to $120 in Uber Cash annually (for U.S. Uber rides or Uber Eats orders, card must be added to Uber app and you can redeem with any Amex card), up to $120 in annual dining statement credits to be used with eligible partners, an up to $84 Dunkin’ credit each year at U.S. Dunkin Donuts and an up to $100 Resy credit annually, there’s no reason that foodies shouldn’t add the Amex Gold to their wallet. These benefits alone are worth more than $400, which offsets the $325 annual fee on the Amex Gold card. Enrollment is required for select benefits. (Partner offer)Pros
- 4 points per dollar spent on dining at restaurants worldwide and U.S. supermarkets (on the first $50,000 in purchases per calendar year; then 1 point per dollar spent thereafter and $25,000 in purchases per calendar year; then 1 point per dollar spent thereafter, respectively)
- 3 points per dollar spent on flights booked directly with the airline or with amextravel.com
- Packed with credits foodies will enjoy
- Solid welcome bonus
Cons
- Not as useful for those living outside the U.S.
- Some may have trouble using Uber and other dining credits
- You may be eligible for as high as 100,000 Membership Rewards® Points after you spend $6,000 in eligible purchases on your new Card in your first 6 months of Card Membership. Welcome offers vary and you may not be eligible for an offer. Apply to know if you’re approved and find out your exact welcome offer amount – all with no credit score impact. If you’re approved and choose to accept the Card, your score may be impacted.
- Earn 4X Membership Rewards® points per dollar spent on purchases at restaurants worldwide, on up to $50,000 in purchases per calendar year, then 1X points for the rest of the year.
- Earn 4X Membership Rewards® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year.
- Earn 3X Membership Rewards® points per dollar spent on flights booked directly with airlines or on AmexTravel.com.
- Earn 2X Membership Rewards® points per dollar spent on prepaid hotels and other eligible purchases booked on AmexTravel.com.
- Earn 1X Membership Rewards® point per dollar spent on all other eligible purchases.
- $120 Uber Cash on Gold: Add your Gold Card to your Uber account and get $10 in Uber Cash each month to use on orders and rides in the U.S. when you select an American Express Card for your transaction. That’s up to $120 Uber Cash annually. Plus, after using your Uber Cash, use your Card to earn 4X Membership Rewards® points for Uber Eats purchases made with restaurants or U.S. supermarkets. Point caps and terms apply.
- $84 Dunkin' Credit: With the $84 Dunkin' Credit, you can earn up to $7 in monthly statement credits after you enroll and pay with the American Express® Gold Card at U.S. Dunkin' locations. Enrollment is required to receive this benefit.
- $100 Resy Credit: Get up to $100 in statement credits each calendar year after you pay with the American Express® Gold Card to dine at U.S. Resy restaurants or make other eligible Resy purchases. That's up to $50 in statement credits semi-annually. Enrollment required.
- $120 Dining Credit: Satisfy your cravings, sweet or savory, with the $120 Dining Credit. Earn up to $10 in statement credits monthly when you pay with the American Express® Gold Card at Grubhub, The Cheesecake Factory, Goldbelly, Wine.com, and Five Guys. Enrollment required.
- Explore over 1,000 upscale hotels worldwide with The Hotel Collection and receive a $100 credit towards eligible charges* with every booking of two nights or more through AmexTravel.com. *Eligible charges vary by property.
- No Foreign Transaction Fees.
- Annual Fee is $325.
- Terms Apply.