GOeureka Introduces Blockchain Hotel Booking Platform
The hospitality sector is the second largest contributor to the global travel industry and it is currently dominated by online travel agents. OTA's generate around 70% of online hotel bookings and this has impacted hotel's direct bookings, profit margins and loyalty programs.
GOeureka, wants to change the scenario by putting hotels and customers first. Using blockchain technology, GO plans to benefit hotels and customers by introducing commission-free bookings, accepting payment through cryptocurrencies that are devoid of merchant fees, and transforming traditional brand loyalty programs.
GOeureka aims to create a new symbiosis where hotels maintain control over their brand while unlocking value for consumers on its platform, the company said. GOeureka’s vision for the future of the travel industry is a supportive online ecosystem where all businesses are allowed the opportunity to thrive and benefit from providing the best goods or services to travelers. As a technology partner to hotels, GOeureka intends to provide a seamless web and app experience to users without the high commission structures imposed by current OTAs.
The company said it provides an affordable and efficient platform for hotels and consumers to directly engage and transact with each other, removing the inequitable commissions to OTAs that ultimately decrease hotels’ margins and increase consumer prices. These benefits are then passed on to customers.
GOeureka is also introducing a patent-pending Re-Booking function for customers to obtain the best value for rooms. When the hotel rate drops, the Re-Booking feature will automatically detect and re-book an existing booking at the lower rate.
Additonally, GOeureka proposes an interoperable loyalty program that will benefit hotels and customers by promoting the hotel's own loyalty rewards program with the option to convert hotel loyalty points into GO Credits that can be used on the GOeureka platform.
For consumers who subscribe to multiple loyalty programs, GOeureka’s solution for an interoperable loyalty program could facilitate instant redemptions and exchange for multiple loyalty point currencies on a single platform. Blockchain acts as an immutable and secure ledger of all transactions related to the issuance of GO credits, creating a transparent, auditable supply of loyalty points without the need for intermediaries, the company noted.
GOeureka will launch the first Alpha Version of their hotel booking platform on the 10th of September.