Ninjastic
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Board Announcements (Altcoins)
Re: [ANN][ICO] GOeureka — Blockchain hotel booking platform
by
justin_hanna
on 22/10/2018, 11:07:44 UTC
Quote from: cooperly on October 22, 2018, 11:05:47 AM
Quote from: Stephen King on October 22, 2018, 11:03:46 AM
Quote from: Amaara89 on October 22, 2018, 11:02:50 AM
Quote from: Arvansyy on October 22, 2018, 11:02:03 AM
How do hotels make money from bookings via third party websites? As we all know that Online Travel Industry is totally depends on OTAs, so there may be lots of advantages that's why they are still in the field and I think they are doing good.
Initially, Online Hotel Booking Industry adopted the third party websites (OTAs), as a means to clear unsold inventories. However, the entry and rapid expansion of OTA's totally reshaped the travel industry. Initially, they had charged a commission of ~5 % to the hotels but day by day they made hotels reliant on them. Nowadays Online Travel Agencies are charging almost 30 % to hotels.
Hotels now rely heavily on OTAs for online sales. The increasing influence of OTAs over hotels has had severe effects on hotel margins, especially for smaller hotel brands. While larger hotel chains are able to negotiate lower commissions given their global exposure and market strength. Independent brands face OTAs commissions as high as 30% of the room fee. At that time Hotels had not any other option to get the business.
So finally we can say that Hotels make money from OTAs by clearing unsold inventories. But I must say If Hotels would not pay the high commission they will earn more money.
After launching the newest project GOeureka in the market, I think The theory of online booking will completely change. By using the GOeureka platform hotels are absolutely free, they don't have to be depended on third parties and They don't need to spent bucks of money on OTAs.
As per their whitepaper I can say, Goeureka will provide a user-friendly interface for better handling of bookings and inventories. By using their platform Hotels are truly going to get rid of any kind of third party's dependency.By using this platform Hotels have to do only one thing that is care of their customer and make the possibility of all the facilities. This is quite possible that when Hotels will not dependable on third parties then they must improve their facilities for consumers. And most importantly hotels are saving a huge money from OTAs, they must utilize this money in consumer satisfaction.