TransferTravel.com, a marketplace for people to sell unwanted travel bookings, has launched a new-look website.
The firm, which has bases in London and San Francisco, is targeting the 222,000 hotel room nights being wasted every day in the US alone and an estimated $40 billion global market.
It says 80% of all travel booked is eligible for transfer but there little consumer knowledge about this and very few brands highlight it in their terms and conditions.
Simon Powell, chief executive and founder of TransferTravel.com believes the peer-to-peer marketplace will champion the consumer whilst helping people recoup costs of unwanted, non-refundable travel.
He said: “We’re bringing to market a simple solution to a problem most people don’t know is solvable.
“It is not fair that companies choose to hide the fact that 80% of travel is transferable and of course it’s the consumer that loses out by not knowing this. We want to educate the consumer and provide a fix for this.”
TransferTravel.com has ambitious plans with a growing team both in the UK and US and an objective to secure over a million users by the end of 2018.
Powell’s launched the company after a relationship break-up left him trying to recover some of the cost of an expensive non-refundable trip to Dubai that he had no need for.
Realising that no single effective marketplace existed for transferring travel he launched TransferTravel.com and has since gone on to secure two rounds of funding leading to the new website with an app launch planned to follow imminently.
The new website has been designed to be easy to use for both those searching for travel bargains and those looking to list their travel.
TransferTravel.com operates on a no-sale, no-fee basis, only collecting a 15% commission when a successful transfer is made.