Lufthansa Group has made a “multimillion-dollar”
investment with app-only price prediction and booking platform Hopper.
The investment is being touted as a two-part strategy:
creating a research alliance between the pair to develop predictive analytics
and flight-demand forecasting, and giving Hopper a foothold in Europe as the
Canada-based company looks to expand on a global basis.
For the Lufthansa Group, partnering with Hopper will give it
the ability to utilize artificial intelligence to learn more about traveler
preferences as part of a program to develop personalized recommendations about
its services and ancillary products such as upgrades.
The partnership was formed in and will be run out of the
Lufthansa Innovation Hub, the group’s so-called innovation and digitization
unit that has already invested in a fleet logistics and Cargo.One platform over
the course of the past 12 months.
Gleb Tritus, managing director of the Lufthansa Innovation
Hub, says: “In the coming months, we will support the collaboration with
the Lufthansa Group’s revenue management and distribution experts. We are also
confident that our Berlin team will be able to make a vital contribution to
Hopper’s European expansion.”
Hopper is embarking on a major growth strategy, fueled by a
$100 million Series D financing round announced in October 2018.
The mobile app combines data and artificial intelligence to
predict future prices for flights and accommodations, which can all be booked
in the app. The app claimed to have sold nearly $1 billion in bookings by the
time of the funding round since it launched in 2015.
Frederic Lalonde, co-founder and CEO at Hopper, says: “The
combination of local market knowledge and dedication to exploring the upper
bounds of AI makes this an ideal partnership for Hopper as we double down on
our efforts to bring the best in travel booking to a global audience.”
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