Citi Travel and Booking.com will create a new platform
Financial services giant Citi Bank is expanding its foray into the travel industry by launching Citi Travel in conjunction with Booking.com.
The launch will take place early in the fourth quarter of this year, the company said.
According to a study by Citi Travel and Booking.com, Americans are eager to travel but often plan their trips around sales or promotions to take advantage of better deals. Nothing wrong with that, of course, but it prevents travelers from having a vacation or going to a specific family reunion on a certain date.
Citi and Booking.com understand this, hence why they created the Citi Travel portal platform.
“Leveraging the scale and breadth of Booking.com, the new Citi Travel offers an unparalleled range of hotel booking options,” the companies said in a statement. “With over 1.4 million hotels available worldwide – ranging from boutiques to beloved chains – there’s the right option for every budget, vacation type and preference.”
The collaboration between Citi and Booking.com is part of a general trend for financial institutions and banks to increasingly dive into the travel industry. This includes Capital One and Hopper Cloud; the launch of UK-based currency exchange app, Revolut, backed by Expedia; the acquisition of the TravelBank application by US Bancorp; American Express’ exclusive reservation site on GetYourGuide; and JPMorgan Chase, which will soon launch ChaseTravel.com for all Chase members.
Citi Travel benefits for cardholders will include:
Compare hotel, flight, car rental options and more through an intuitive, modern platform, now accessible directly from the Citi website and mobile app.
Pay for a trip with your cards, your ThankYou points or a combination of both. About 22% of survey respondents from Citi and Booking.com say the inability to redeem or earn rewards is one of the biggest obstacles for them when booking vacations.