About Project
The company’s BedSwap project uses a blockchain-enabled system to maintain records of hotel room inventories in real time. This room inventory can then be offered across all markets within seconds, and there is no need for an intermediary such as Expedia to manage the information. The benefits of blockchain in the travel industry:- A decentralized marketplace equals a democratized marketplace.
- A blockchain system is controlled by all parties involved and cannot be manipulated.
- Cost savings and efficiencies will be achieved since intermediaries are no longer part of the process.
- Blockchain provides an immutable and secure payment and data transfer platform.
- The cost of setting up a blockchain system is minor compared to setting up and maintaining a system such as Expedia.
- Blockchain could enable an easy-to-implement loyalty rewards program.
Type:Blockchain
Target group:TUI group and COCUS AG
Free/Paid:It is a technology developed by the TUI group for its own use
Adaptation Needs:This can be used as a best practice for other managers in the hospitality industry if they are considering implementing blockchain technology in their business.
Contact:N/A
Photo Credit: Alxs
