GOeureka

 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. 

 The growth of online travel agencies is a perfect example of how new  technology can disrupt an existing industry. These online agencies have a  huge advantage over the normal hotels since they are able to offer  consumers low prices and more options. However, it is not all rosy for the online travel agency; the  traditional hotel sector is slowly adopting the online technology.  However, these hotels are still lagging behind. They need to work  faster. Otherwise, intermediaries that get them in touch with customers  could start making more than them. The GOeureka team thinks they may  have found something that will give the hotel an edge over agencies. To  do this, they have decided to augment the existing loyalty programs with  blockchain technology. The aim of the GO project is to utilize the blockchain  to create a symbiotic relationship between hotels and customers. Hotels  will maintain control of their brand while customers will get more  value at the same price. 

The GOeureka Vision

GO has a plan to create an online ecosystem where  businesses thrive by offering the best services to travelers. As a  technology partner for the hotel industry, GO will offer a simple and  direct app and web experience to users without the high commissions on  most sites. By freeing up resources for hotels, GO will make it possible  for them to offer better customer value and service with their  resources. 

GOeureka Transparency And The Blockchain

A key feature of the blockchain  is accountability. Go will use the blockchain to make sure that  accountability and transparency are maintained in the ecosystem. Go will  replace the pay to play arrangement utilized by most travel agencies.  The platform will be unbiased and no commission will be charged on  users. On GO, hotels will no longer need to pay for visibility. All  displays and search results will be determined by the performance of a  hotel and the reviews it gets from its users. 

GOeureka Hotel Booking Loyalty Programs With The Blockchain

If a hotel wishes to integrate, the GO ecosystem will offer an API  where a hotel can link their inventory with the reservation system.  There will be guides offered to the hotel’s IT department to make the  integration seamless. Go will also integrate with the property  management software of a hotel via strategic partnerships. One issue that GO will solve is the disconnected loyalty programs.  Today, every airline, car rental service, and the hotel will have its  own loyalty program. This makes it hard for ordinary consumers to  accumulate enough points to redeem for significant rewards. An integrated loyalty program powered by the blockchain is the  future. Go will create an interoperable program that is powered by this  technology. Users will have the option to convert the loyalty program  points of a hotel in GO credits. With this system, loyalty points earned  from a car rental service can be converted into GO credits. This can  then be used to pay for a hotel room. 

For more information visit:

 Website: https://goeureka.io
Whitepaper: https://goeureka.io/#download

Author : Cing ciripit

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