GOeureka, a travel tech company utilizing blockchain technology to build a hotel booking platform, said it released the alpha soft version of its platform, allowing consumers to book hotel rooms with zero commission, receive loyalty rewards and benefits, all with no hidden fees. GOeureka is among the first in this space to trial bookings using blockchain technology through smart contracts on Ethereum, which is made possible, in part, due to its huge existing infrastructure of available hotels. GOeureka has amassed an impressive Board consisting of C-Level executives from Accor Hotels and Agoda, amongst others in the global hotel industry. The number of hotels bookable through GOeureka (400,000) is rapidly expanding, giving it a significant edge over competitors, both in and out of the blockchain world.
Currently, a handful of booking sites have dominance over the hotel booking space, charging anything between 10 – 30% commission on top of the room rate. This fee happens on the backend of the booking site, with little transparency of cost for the consumer. The retail price of a single room varies widely, depending on transactions between the hotel, the bed bank wholesaler, and the online booking site.
GOeureka simplifies and reduces the cost of hotel bookings, giving a fair and consistent price to the customer, and ease of transaction to the hotel. By cutting out the middlemen and allowing the hotel to deal directly with the customer, arbitrary fees are erased, and the customer accumulates the benefit and rewards as well as receiving far better rates. Likewise, hotels are able to cut down the supply chain to the bare minimum, making it more efficient and cheaper for them to operate.