StaySecure
Startup Idea: A price protection service for hotel reservations that ensures the booked room rate will not increase even if prices on the hotel's website or other booking platforms go up. This service can also provide assurance that the reservation will not be cancelled in favor of higher-paying guests.
Pain point: people facing uncertainty and potential cancellation of hotel reservations due to fluctuating room prices
- Categories
- Askhotels Hospitality Travel Reservation Management Price Tracking Tools
- Idea Generated From
- Reddit Post: How to protect reservation
- Potential Monthly Revenue
- $105000
Business Plan:
Business Idea: A price protection service for hotel reservations to guarantee locked-in room rates and prevent cancellations due to higher-paying guests.
Target Market: This service will target frequent travelers, business professionals, and vacationers who are looking for peace of mind and price predictability when booking hotel accommodations.
Revenue Streams: 1. Service Fee: Customers will pay a small fee per reservation to access the price protection service. 2. Commission: Negotiate a commission structure with partner hotels for providing the service.
Marketing Strategy: 1. Partnerships: Collaborate with hotels and online booking platforms to offer the service directly to their customers. 2. Online Marketing: Utilize digital marketing channels to reach potential customers who value price transparency and reliability. 3. Customer Referral Program: Incentivize satisfied customers to refer friends and family in exchange for discounts or rewards.
Operational Plan: 1. Develop a user-friendly online platform to manage reservations, price monitoring, and customer service inquiries. 2. Employ a dedicated customer support team to handle any issues or concerns relating to reservations and price protection.
Financial Projections: - Average service fee per reservation: $5 - Commission from partner hotels: 10% of reservation value - Monthly reservations: 1000
Financial Projection: - Service Fee Revenue: $5 x 1000 = $5,000 - Commission Revenue: $100,000 (assuming an average reservation value of $1000) - Total Monthly Revenue: $105,000
Estimated MRR: $105,000
In Markdown format:
Estimated MRR: $105,000