Hopper is a Montreal-headquartered mobile-first online travel agency founded in 2007. The company built its reputation on AI-powered price prediction for flights and has since expanded into hotels, car rentals and a portfolio of travel-related fintech products that have become a defining feature of its model.
Hopper combines a traditional OTA approach with travel fintech, generating a significant share of revenue from add-on products such as Price Freeze (lock a price for a fee), Cancel For Any Reason, Change For Any Reason, and Flight Disruption Guarantee. These products are powered by Hopper's pricing models and have been widely adopted by other OTAs through Hopper's B2B division HTS (Hopper Technology Solutions).
Hopper is a top-ranked travel app in North America by downloads and is particularly strong with Generation Z and millennial travelers. The HTS B2B business has emerged as a major growth driver, powering fintech and supply for partners including Capital One Travel, Kayak and Marriott.
Hopper has raised significant venture capital from investors including Capital One, Goldman Sachs and Citi Ventures. The company describes itself as a fintech-first travel company and has been one of the most innovative OTAs in monetizing risk and uncertainty around travel pricing changes and disruptions.
Hopper's B2B chief and co-founder Dakota Smith has left. The unit drives about 90 percent of revenue, and the exit follows a bumpy year for its partnerships.
Hopper will pay $35 million to settle FTC claims it charged hidden, pre-selected Tip and VIP Support fees and oversold Price Freeze. The company disputes the characterization but chose not to litigate.
Capital One has acquired the technology and around 150 employees from Hopper that powered Capital One Travel, ending an outsourced arrangement and sharpening the bank's push to compete with American Express and Chase in the premium travel segment.