SEATTLE, May 15 /PRNewswire/ -- Farecast.com, the airfare prediction
website, announced today new tools that help savvy travelers catch elusive
price drops and be more empowered when shopping for airfare this summer.
Farecast Alerts, powered by Farecast's proprietary prediction technology,
are a powerful new addition to Farecast's suite of tools that help
consumers track their trip and save money. No other airfare alert provides
a prediction and comprehensive fare history to help consumers catch a price
drop. Farecast also emerged from beta today with unique features for
frequent travelers and results of an audit confirming its predictive
accuracy of 74.5 percent.
"We've seen a high volume of price drops over the last several months
and expect these to continue throughout the summer," said Hugh Crean,
Farecast's president and chief executive officer. "Airline prices are
constantly changing and no other travel site empowers you with tools to
capture elusive price drops. Farecast recommends when to wait and provides
free alerts that tell you when to buy at lower prices."
Catch Elusive Price Drops with Farecast Alerts
Farecast research reveals that more than 50 percent of price drops
disappear within 50 hours, illustrating the need for consumers to stay
apprised of fare drops to their chosen destinations. No other travel
website tracks available pricing daily to help consumers make an informed
choice to wait and buy later, and then provides a free prediction and
comprehensive fare history to help them catch a price drop.
Farecast's new alerts will be even more valuable for consumers this
summer, as a combination of factors, including early indications of weaker
demand, increased airline competition and rising fuel prices, promise to
make this busy summer season more dynamic and price drops more dramatic.
Farecast Alerts are the latest addition to Farecast's "Track Your Trip"
suite of tools which include Fare Guard and RSS feeds. When it predicts
fares are dropping or flat, Farecast also offers customers the opportunity
to purchase a Fare Guard to protect the lowest fare for their trip for
Farecast Emerges From Beta with Expanded Features
Farecast emerged from beta today, expanding its air shopping service to
include one-way, multi-city, nearby airports and any class of service. With
this release, Farecast introduced innovative new search functionality
including a unique Flight Quality Filter that allows frequent travelers to
sort by type of flight including red-eye, long layover, short connection or
mixed cabin. Farecast also tells its customers when seats are limited so
consumers no longer get burned by unexpected sell-outs. No other travel
website offers customers this level of visibility and intelligence when
shopping for flights. During this beta period, Farecast also found more
than $10 million in potential customer savings as a direct result of its
Audit Cites 74.5% Prediction Accuracy
In an audit, Navigant Consulting, Inc., confirmed that Farecast's
predictions are 74.5% accurate, and that travelers purchasing two tickets
could save an average of $55 by using Farecast's Fare Predictions. Navigant
Consulting analyzed a random sample of over 44,000 predictions made by
Farecast to customers from January 1, 2007 through March 31, 2007, and
calculated monthly accuracies of 74.6 percent, 73.6 percent and 75.2
percent, resulting in an overall 74.5 percent accuracy rate for this
"We've closely analyzed a statistically relevant sample from Farecast's
predictive technology, and confirmed the veracity of the technology's
accuracy," said Brad Wang, a consultant with Navigant Consulting. "Based on
our findings, if customers adhere to Farecast's prediction and
corresponding recommendation when shopping for airline tickets, customers
will potentially save over $50 on a typical roundtrip transaction."
Farecast Airfare Predictions
Unlike any other travel website, Farecast.com saves online travel
shoppers money with an airfare prediction for their specific trip. The
company's patented airfare prediction shows whether the lowest fares for
their trip are rising or dropping. Farecast.com also provides expected
price movements, confidence levels, historical prices and buying tips when
customers search for flights. To learn more about the proprietary airfare
prediction, see the Our Technology page of Farecast.com.
About Farecast, Inc.
Farecast.com is the airfare prediction website. Farecast.com helps
airfare shoppers across the country save money by answering the question:
should you buy now or wait? In addition to being the first to provide
airfare predictions, Farecast.com displays the lowest fares from the major
airline sites and offers industry leading travel planning tools.
Farecast.com was recognized as one of PC World's 20 Most Innovative
Products of 2007, "Best of What's New for 2006" by Popular Science, one of
TIME Magazine's 50 Coolest Websites for 2006 and one of the "Best Trip
Planning Tools" by Business Week readers. The company is located in
Seattle, Washington, and is funded by Sutter Hill Ventures, Greylock
Partners, Madrona Venture Group, WRF Capital and PAR Capital Management. To
get a free airfare prediction from your city, or to learn more visit
Anne Taylor Hartzell
Spark PR for Farecast:
SOURCE Farecast, Inc.