Microsoft today now revealed its buzzing search engine Bing’s next offshoot – Bing Travel, it has flight and hotel search, airfare price predictions, travel news and community, travel deals, and more.

Added to this, starting today itself, people searching on Bing search engine for hotels in a given city will get Bing Travel Instant Answers included directly in their search results, featuring the Rate Indicator, let them choose hotels etc.

Moreover, from now onwards Microsoft acquired Farecast, previously farecast.live.com and MSN Travel will be entertained through Bing travel only. Farecast has been named one of Time Magazine’s “50 Coolest Websites” in 2006. In recent Press note Microsof mentioned some of Bing Travel’s key features such as – Price predictor, Rate indicator, comparison flight & hotel search and more.

Bing Travel uses Farecast technology to analyze more than 175 billion airfare observations and predict whether the price of a flight is going up or down. It offers people a recommendation of “Buy Now” or “Wait,” including a confidence level and expected price increase or decrease over the next seven days.

Bing travel will also be twittering at twitter as ‘Fareologists‘ at Bing Travel to twit about airfare and hotel deals, industry trends, and travel news.