Apparently, yes. The site cites two recent examples of travelers booking rooms at Wynn Las Vegas, Casablanca Hotel in New York, and The Chesterfield in London, respectively. While latter two saved around 25%-30% on their one-night stays, the Las Vegas traveler saved almost half of the original price paid ($1,243), ending up with a two-night stay for only $724.
The way it works is that the site monitors rates of hotels all over the world (the main cities listed on the front page include Paris, London, New York City, Orlando and Las Vegas). Once you've booked your stay through Tingo, it will then constantly check for lower rates, and when it finds them, will re-book the same reservation for you. If the price goes down again, you get more money back; if it stays the same or goes up, your reservation holds in place.
For example, by clicking on Las Vegas, you'll get a whole list of hotels, listed in descending order by price. At the bottom of the screen, a little box announces that "133 hotels in Las Vegas saw prices drop" in the past 30 days at an average rate of $26.97.
We always wondered about ways to capitalize on the fickle nature of hotel rates. This might be the best solution for now. But will it actually end up helping travelers in the long run?
Care to weigh in? We welcome comments, thoughts, concerns from industry experts and regular old travelers alike!