The scheme encourages customers to avoid booking expensive flexible fares and instead pay a 10% fee upfront on all bookings made through the TravelPerk portal.
The fee then guarantees users a minimum 90% refund on any cancelled booking, be it a hotel, flight, car rental or even an Airbnb reservation.
Customers taking part in a trial achieved savings of 26%, on average, compared to the cost of booking flexible fares and paying last-minute cancellation fees.
According to TravelPerk’s own data, more than 20% of booked business trips are subsequently postponed, rearranged or cancelled, and that suppliers’ flexi-fares cost on average 60% more than standard fares.
“We believe that the launch of FlexiPerk is the biggest development in the business travel industry in more than a decade,” says Avi Meir (pictured), CEO and Co-Founder of TravelPerk. “It marks a change in the status quo of business travel’s pricing structure.”
Meir continues: “It is a key development in our long-term strategy, which is focused on not just playing catch up with the flexibility and convenience of consumer travel, but actually surpassing it.
“We are delighted with the feedback from early customers and are excited to be bringing FlexiPerk to the wider market as part of our mission to make every stage of business travel as seamless as possible.”