GOeureka : Reshaping the Online Hotel Booking Industry

The holiday season is already upon us, everyone is going on a vacation while the late bloomers are planning a trip now. Fascinating hotel booking offers are attracting us to spend our money on desirable destinations and luxurious hotels. When internet came, it took over the hotel booking market entirely by giving it a new approach. Increasing availability lured customers towards online booking. Mushrooming hotel websites and online travel agencies began providing attractive discounts. Lured by these deals and the ease of availability pushed customers to practice the modern way more often.

With each passing year the OTA’s still remain the same and continue with their ambiguous packages. The offers they provide may look tempting but the reality is that they have created a market for middlemen with a huge margin. The amount you are paying is always more than its actual cost as it contains 10 to 30% of commission fees for the OTAs.

Blockchain can transform Online Hotel Booking

Adopting Blockchain can significantly eliminate middlemen, increase transparency, flexibility and time saving. Blockchain can provide an affordable and efficient platform for both hotel and customers. This technology has an ability to benefit the parties by completely omitting the costs of OTA bookings. A Platform that features accountability and transparency would gain customer’s trust. Financially this can be fruitful for the hotels as they no longer have to pay for the visibility on any specific site.

Advantages of Hotel Booking on Blockchain

1. Traveling the Smart Way — Connecting to Blockchain is not expensive:

Any internet-enabled system can be connected right away with this platform making the network accessible to the smallest participant in the market. It will provide an efficient platform for all small hotels to advertise themselves and get more bookings that are otherwise dependent on phone calls for bookings. All these businesses don’t require huge investments, they can be connected to the Blockchain with handy equipment like phones.

2. Automation reduces efforts: Blockchain can reduce the cost involved in legal paper work and manual assistance drastically as smart contract offers automation process for documentation. Lot of things are still done manually in small hotels but with automation they would be able to efficiently manage their bookings.

For example, customers may request to book the hotel room temporarily, and then fail to cancel it, leaving the hotel with a profit loss. The collection of unsettled debts is too expensive and labor-intensive for small businesses like independent hotels. With smart contracts, the Blockchain is adding another source of more efficient and legally binding processes to the market. A travel platform can include in their terms and conditions that its smart contracts are binding for all users.

3. Market place will become more reliable: Due to the existence of transparency, customers gain trust and OTAs can no longer cheat them with hiked prices. This hotel ecosystem generates efficient booking process for both the users and hotels. This can significantly reduce the cost of booking for customers and the hotels wouldn’t require to pay commissions to agents.

How GOeureka is Reshaping the future of Online Hotel Booking:

GOeureka is the future of online hotel booking market. It is a travel tech company utilizing Blockchain technology to build a hotel booking platform. GOeureka’s mission is to decentralize the hotel booking sector and deliver greater transparency by allowing hotels to directly connect with their customers. As a technology partner to hotels, GO aims to provide a dynamic digital experience to users and eradicate the high commission structures imposed by online travel agents. By reducing the financial commitments of hotels to third-party booking platforms, GO’s vision is to enable hotels to focus more resources on providing better intrinsic values and services to travelers around the globe.