TripAdvisor launched Tingo
, a hotel booking site that automatically rebooks hotel rooms at a lower price if the rate drops, and refunds the difference to customers' credit cards.
Tingo said it is the only site that automatically rebooks travelers if the rates drops, and that customers don't have to do anything but "book, wait and save."
According to Tingo, in 2011 Americans could have saved nearly $314 million if they had had access to a site like Tingo.
“Travelers could have saved millions last year had there been a simple system in place that automatically rebooked their rooms," David Krauter, general manager of Smarter Travel Media, a subsidiary of TripAdvisor, said in a statement. "And that’s what Tingo does, by taking the gamble out of booking and refunding travelers’ money when rates drop. It’s a no-brainer." Follow Johanna Jainchill on Twitter @jjainchilltw.