Reducing costs in hospitality and travel business, by shifting cost savings to customers via discounted services/rewards.
It’s possible to travel with airline mileage benefits and resort loyalty points but can you traveling with electronic money reward points? Sooner or later, we as customers are offered these apps in hopes we opt to fly and reserve a specific airline and resort. Consumers and business institutions have been in a position to reap such rewards for decades, which have sparked the hospitality and travel market.
The online now has changed the hospitality and travel industry’s market with various information which should be transparent to the general public. As platforms become increasingly more digitized, the data made accessible becomes more and more merged. The problem consumers confront is that confirming their identities via a large number of travel providers and trades becomes burdensome and possibly frightening in the present age of information breaches.
The time that it takes to reserve a plane ticket, hotel, and transport by simply comparing pricing, amount, and additional details of resources and services takes the pleasure out of travel directly from the get go.
Food for consideration–what should the business could enlarge its loyalty and rewards plan to digital monies? Normal customers and institutions can reap the positive features of those currencies through faster transaction speeds compared to an ACH payment, whereas sellers and institutions have improved access to clients with no volatility commonly related to average cryptocurrency. This permits for institutions and airlines to provide and supply diversified service offerings.
Take for example, Hooch, an app that earns users free drinks via the Hooch Black membership paid via Tap Coin.
However, the business isn’t shy of its troubles. As an instance, customers face unnecessary costs and ineffective way of ‘support’ when trying to reserve flights or resorts.
Because of their volatility and instability, most cryptocurrencies aren’t and can’t function as a secure medium of exchange. Input stablecoins. Stablecoins collateralize either one or combination of different assets and currencies. Tap Tokens, via the Tap Network uses the Blockchain to collect data in a secure way to help restaurants better understand their customers.
It is clear on the market which travel planning should be simplistic and less stressful. “By producing platform around the Ethereum blockchain, allowing the next generation of decentralized traveling, opens the hospitality and travel sector up to imagination and additional invention,” stated a representative of Smart Alliance Grid Architecture (“SAGA”). SAGA now provides decentralized travel options for travellers and their hoteliers. By linking SAGA, resorts can decrease advertising costs and also have more flexibility within their bundle offerings compared to conventional platforms not tied to contracts.
Let us Look at a Number of the concerns cryptocurrency is currently confronting in the area and how platforms such as SAGA can address these issues:
The worldwide payment surroundings is fragmented, with numerous legacy systems being used throughout the world. However, to reevaluate multi-currency, cross-border options, is nothing short of timely, costly, and wasteful.
Option: As of now, a international payment standard doesn’t exist to help ease multi-currency, cross-border trades around the world. This requires linking customers and suppliers straight into one another, reducing the prices paid to non-value adding intermediaries and saving period in regards to reserving and planning travel arrangements.