(Courtesy of Pruvo) Has it ever happened to you that after hours and hours of searching for the great deal, you are positive you found the best deal for a hotel room? However, in a matter of days, you come across a lower price than the one you paid? Studies show that 40 percent of customers, when booking a hotel room, later discover that the same room, in the same hotel, for the same dates, has a cheaper price somewhere else. Such price differences can be up to 67 percent of the total amount of the reservation!

Popular platforms like Booking, Trivago, Expedia etc. ensure you get the “best price” at the moment of booking. Pruvo, a new Israeli platform tracks price drops after your initial reservation and notifies you when such a price drop occurs, so that you can make a new, cheaper reservation and then cancel the original “more expensive” reservation.

“Our CEO, Itai Marcipar, booked a hotel for his family vacation. A few weeks later, he entered the booking platform to upgrade his hotel room. To his amazement, he saw that the same hotel room, in the same hotel, same dates in the same platform he booked on was 35% cheaper than it was when it was booked. After conducting a study of hundreds of other hotel reservations and investigating online, he discovered that this phenomenon occurs 40% of the time with hotel reservations, and that is what motivated him to start Pruvo,” says Mr. Nadivi.

The process is simple:

Step 1: Reserve your hotel with any platform you desire. You can use any search engines, travel agencies or go directly through the hotel. When you find your desired hotel, make a reservation. Make sure that the reservation is booked with the free cancellation option.

Step 2: Send Pruvo your email confirmation of your reservation. Once you receive your email reservation confirmation from your hotel, forward it to [email protected] so that Pruvo can start tracking the exact details of your reservation through other hotel search engines. You will receive an email confirming that Pruvo has received your booking.

Step 3: Pruvo will send an email notification once it finds a better price. If Pruvo finds a better offer, you will receive an email that lets you know how much the savings are and the instructions to obtain the better deal.

Step 4: Make a new reservation and cancel the previous one. Pruvo will redirect you to the platform to make your new reservation where they found a better price for the same room, same dates, in the same hotel. Once you are done with the new reservation, it is important to make sure you cancel the more expensive, prior reservation.

If your reservation was paid for in advance, you will get a refund of the total amount of the initial booking. This automated system is free and allows you to effectively save both money and time when planning vacations.

Pruvo has made quite an impact on the industry, and within its first year, it has saved for its customers more than $117,000.