Have you ever found yourself having bought a ticket that you never used? Have you ever paid for a non-flexible flight or reservation, only for your plans to change? In the world of travel, these things happen often, leading to frustration, disappointment and lost money. But thankfully, all is not lost.
SpareFare, a new company from London has found a solution to this problem, by creating a safe way for people to exchange their tickets and save money on both sides.
As avid travellers, we always love it when people come up with new ways to make our lives easier (Stasher is one of those ways). A marketplace for unused holidays sounds great, but we wanted to know more about how it works. That’s why we asked SpareFare’s co-founder Galena Stavreva to tell us about her brainchild!
How was the idea for SpareFare born?
‘I started my career as a corporate solicitor in London, working for a busy American law firm. I had to cancel several holidays due to work commitments and was unable to find anyone to sell my flight and hotel reservations. I saw the need for a reliable platform that provides the opportunity for people to resell their travel reservations. So I created SpareFare with two other co-founders.’
How it works
The main idea behind SpareFare.net is simple: Bringing together people who have bought flights, hotel rooms or even complete holiday packages, but have found that they cannot use them, with those that are looking for travel bargains. ‘By utilising the SpareFare service, those who originally bought the holiday can recoup money, whilst the people buying can often save as much as 50%-60% of what they would originally have paid’, said Galena. With SpareFare acting an intermediary, the transaction is more secure since this adds a layer of trust.
Below, you will find a detailed explanation of how each aspect works. We should point out that all name change fees are paid by the seller.
Selling an airline ticket
To transfer a fight, you need to make sure that your airline is going to allow you to change the name that is linked to the flight. There are over 60 airlines which provide this service, and you can find the full list on our site. There will be a fee that will be applied to change the name. However, this can vary by airline. If you find that policy states that the airline will not allow for any ticket names to be changed, then it is worthwhile calling them to see if you can discuss this matter further.
Selling a package holiday
When it comes to selling on a package holiday, which will contain flights, transfers, hotels and any other extras associated to your holiday, you will need to speak to your travel agent. This will either be a part of their terms and conditions, or, if you cannot see it in there, you could always speak to someone to find out whether or not it is possible and if there will be any fees to pay. It is worthwhile remembering that if the travel agent is based within the EU, then they have to give you the option to change the name on the reservation, by law.
Selling a hotel room
One of the easiest things to sell when it comes to a holiday is the hotel room. You will usually just have to call up the hotel and tell them that you need to change the main guest name within the reservation. There aren’t usually any fees to be charged with this, however, you should always check with your hotel, just to be sure.
SpareFare platform acts as an escrow to remove the fraud risk for both sellers and buyers. Buyers have to transfer the amount to SpareFare, which in turn waits until the seller have kept their end of the deal. That way, everyone is protected.
Thoughts on SpareFare
If you’ve ever lost money because of an airline ticket, you know how painful it is.