Arise Travel Opens Access to Online Travel Market with Blockchain-Based Hotel Distribution Network
Arise Travel said it launched the beta version of its Arise Travel Network, a digital marketplace designed to eliminate the inefficiencies and costs in the current online travel distribution market and extend the value of hotels’ inventory. The Arise Travel Network uses blockchain technology to rebuild the hotel distribution infrastructure into one that is secure, accessible, and flexible. This will spur competition and innovation in online travel, enable hotels to partner directly with multiple distributors, and to reduce their distribution costs.
The Arise Travel Network is simple to set up, scalable, and offers numerous advantages over traditional distribution networks:
- Hotels and distributors come together directly without the need for contracts or middlemen. Hotels use a simple interface to set their commission rates and import inventory and rate data from their existing hotel system to their own secure blockchain. They then can make it available to as many distributors and partners as they choose via the Arise Travel Network.
- Hotels set their own commission rates and can change them at any time to reflect market demand, inventory, or any condition. Changes occur instantly across the entire Arise Travel Network.
- Commission payouts are automatic and done electronically. The Arise Travel Network blockchain method is secure, immediate, and eliminates the tedious process of reconciliation and follow up.
The founders of Arise Travel have experience working in the hospitality industry and wanted to develop a technology-based solution to address hotels’ challenges in today’s OTA and distribution markets. Arise Travel uses a non-currency-based application of blockchain technology to build a new travel network marketplace.
Some of the benefits to blockchain technology, specifically for hospitality, include: it enables a secure, traceable, and trusted transaction between hotels and distributors, no time is wasted on commission reconciliation, there aren't cumbersome contracts. Blockchain technology also allows Arise Travel to create a shared, distributed cache of hotel room and rate information. All parties connected to its network have a local copy of hotel data that automatically stays up-to-date, removing the need for hotels to enter their information on multiple proprietary platforms, while eliminating out-of-sync cache issues.
Arise Travel is seeking additional partners to participate in the beta network including hotels, distributors, event planners, or anyone interested in sending new bookings to hotels.