Farecast's Holiday Forecast Reveals When to Buy and Fly this Season
The Fareologists at Farecast.com, the smart travel search site, today offered tips for consumers to know when to buy and fly this holiday season. To get the best price this season, data reveals that for Thanksgiving, being flexible with the return date can deliver up to a $100 savings per ticket. For December Holiday travel, date of departure flexibility could save more than $90 per ticket.
Knowing When to Fly for Holiday Travel
Consumers who know when to fly can save big bucks this holiday season. For Thanksgiving 2007, data reveals that the best deals are starting to dwindle, but flexibility with return dates can offer some great deals for consumers. Travelers who extend their trip to return on Monday or Tuesday can save $60-$100 per ticket. For Christmas, focusing on your date of departure could yield the best potential savings.
Know When to Buy Holiday Travel
Knowing when to buy can save you equal amounts of cash this holiday. Watching airfares and buying when prices are low can save you between $20 and $100 on most trips. For example, the lowest price for a trip from Newark, NJ to Jacksonville, FL on Sept. 22 last year was $259 and by Sept. 27 it has fallen to $238. On Oct. 3 it spiked to $289, before falling back to $235 on Oct. 15. On Nov.1, the price jumped to nearly $290 and would fall below $275 on only a few occasions before the flight departed on Dec. 21. By knowing when to buy and setting up a Farecast alert for your trip, you could have locked in that low $235 price.
Here are some additional tips from the Farecast Fareologists:
* Expect to Pay More this Thanksgiving: Currently, fares for the 2007 Thanksgiving holiday are 3-7 percent more expensive than last year and the price decreases we saw last year in early September have not recurred this year. For travelers who are hoping to head home for the Thanksgiving holiday, booking now may offer the best savings.
* Be Flexible to Maximize Savings: For Thanksgiving, return date flexibility offers the biggest impact on price. For Christmas, you will save more money by shifting your outbound travel date. Specifically avoiding the popular Friday or Saturday before Christmas departure days can save approximately $60-90 per ticket. Avoiding the return day before New Year's can save you $25 on average.
* Watch October for Christmas Holiday Price Drops: During 2006, many Christmas itineraries saw price drops on October 1 and October 14-15. Avoid the Friday or Saturday departure, and watch prices through mid-October to see if these sales repeat. Data suggests there are 50 percent more price drops during the holidays than other times of the year so alerts are critical to catch elusive deals.
* Create Facebook Trips with Friends: With Farecast's new Fly by Farecast application in Facebook, you can now create trips, track flights, and share airfare predictions with friends. Not only will Share your trips with all your Facebook friends right on your Facebook profile and they will be able to view your upcoming trips..
Farecast's Holiday Predictions utilized historical prices for 2,000 popular routes focusing on Christmas and Thanksgiving trips lasting between 2 and 8 days. Farecast Fareologists are tracking holiday fares daily and you can set up alerts, or get free airfare predictions for your holiday travel at www.farecast.com. You can also create alerts, track and share airfares with friends via Farecast's new Fly by Farecast application on Facebook.
Farecast Airfare Predictions
Unlike any other travel website, Farecast.com saves online travel shoppers money with an airfare prediction for their specific trip. In April 2006, Navigant Consulting tested over 44,000 airfare predictions confirming that Farecast's predictions are 74.5% accurate, and that travelers purchasing two tickets could save an average of $55 by using Farecast's airfare predictions. 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 Farecast's proprietary airfare prediction, see the Our Technology page of Farecast.com.
Farecast Hotel Search and Rate Key (Beta)
Farecast's Hotel Rate Key helps consumers know at a glance if the current rate for a hotel is a deal or not a deal. The initial beta version utilizes historical rates and offer Hotel Rate Keys for over 5,000 hotels in 30 major cities across the country for up to 90 days in the future. Farecast builds the unbiased Hotel Rate Key on science, not marketing. Farecast's Hotel Rate Key compares the individual hotel's current rates to its past rates observed for:
* The same travel dates (e.g. past rates found for a stay on September 21-23)
* Other travel dates on the same days of the week (e.g. other Friday - Sunday stays)
* A Rate Key showing a "Deal" indicates today's rate is lower than past rates for that hotel.
In addition to its unique Hotel Rate Key beta, Farecast.com now offers consumers the ability to shop more than 80,000 hotels in thousands of cities worldwide. Farecast Hotels offers a clean interface with useful tools to help consumers find the best hotel for their needs.
Farecast.com is the smart travel search site that helps you buy with confidence. Launched in 2006, Farecast.com empowers you to know when to buy with airfare predictions and know where to stay with hotel rate keys. Farecast is one of Travel & Leisure's Top 25 Websites, received Budget Travel's 2007 Extra Mile Award, PC World's 20 Most Innovative Products, "Best of What's New" by Popular Science, TIME Magazine's "50 Coolest Websites" and one of the "Best Trip Planning Tools" by Business Week readers. Farecast is headquartered in Seattle, WA. Buy travel smarter at www.farecast.com.
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