Imagine spending thousands of dollars on hotel reservations for a dream vacation only to have an unforeseen circumstance arise, forcing you to cancel your trip. Now imagine if you couldn’t get a refund on that hotel reservation. Sadly, that’s a scenario in which many folks find themselves on a daily basis. Well, the experience was so frustrating for one traveler that he decided to start a business where travelers who are forced to cancel their plans can sell their non-refundable hotels, cruises or flights online.
Simon Powell started Transfer Travel two years ago. The company is promoted as the “eBay for holidays.” In conducting research for the company, Powell discovered that 37 percent of all vacationers have had to cancel a trip at some time in their lives and that 220,000 hotel rooms go wasted and unrefunded every day.
At Transfer Travel, people can sell everything from whole vacation packages to flights. They list the original cost they paid as well as a preferred price. Buyers can then offer to pay whatever they want for the posted packages. The sellers also fill out profiles, including the reason that they’re unable to use the packages they’re selling. All the products being sold are verified to make sure they’re legitimate bookings, and any costs associated with changing the names on packages or flights are the responsibility of the people selling them.
So, what kind of deals could you expect to get using the site? If you check out Transfer Travel you’ll see that many of the deals find buyers getting packages for 50% or more off the original selling price.
In most travel industries like air travel and hotels, most companies offer discounted prices for booking packages that are non-refundable, while the same products can be purchased at a higher price with an option for canceling within a certain time frame. Seventy percent of buyers usually opt for the lowest, non-refundable prices. That translates to a lot of people who are up the proverbial creek with no paddle should something come up requiring them to cancel their plans. In those cases, Transfer Travel can be a real life-saver.