Place/Date: Singapore - August 18th, 2018 at 3:30 pm UTC · 4 min read
Contact: Tej Bhuller, Source: 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.
Manraj Rai, the CEO of GOeureka, said:
“GOeureka aims to create a new symbiosis where hotels maintain control over their brand while unlocking unprecedented value for consumers on its platform. 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.
“We provide 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 unprecedented benefits are then passed on to customers.
“GOeureka is 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.”
GOeureka also 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.”
GOeureka will launch the first Alpha Version of their hotel booking platform on the 10th of September.
“We are running live test bookings across the platform over the next couple of weeks and will have a functioning MVP of the booking platform ready by the 10th of September.”
Out of the 1 billion GOeureka tokens that exist, 60% will be sold via a series of presales and public ICO offerings. All unsold tokens will roll over into the following round. However, if all of the 600 m tokens are sold out in any round, the ICO will conclude and the subsequent rounds will be discontinued. Any unsold tokens will be burnt at the end of the ICO.
GOeureka is also giving all token buyers the opportunity to win these amazing prizes:
To be eligibility criteria for the Great GOeureka ICO Bonanza is to purchase GOeureka tokens during the ICO rounds and follow them on Facebook, Twitter, Instagram and Telegram.
More information about GOeureka, their ICO and lucky can be found here.
GOeureka is a travel tech company utilising blockchain technology to build a hotel booking platform. Our mission is to decentralise 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 value and services to travellers around the globe.