The global travel & tourism industry is a US$7.6 trillion market, roughly 10% of the world’s GDP. Global brands and local hotel owners are facing fierce competition in the internet era. For decades, hotels need to manage their own booking reservations from many channels and spend long hours sorting out the room availability and customer schedules. OwlTing, a Taiwanese technology company focusing on blockchain & e-commerce, is launching “OwlNest Blockchain Hotel Management Service,” an integrated lodging management platform to help hotels worldwide improve brand awareness and customer satisfaction.
Global Tourism Continues to Grow and Challenges the Hotel Booking Systems
With the rise of various online travel agencies (OTA), it is essential for hotels to strike a balance between pricing for visibility on major OTA channels and pricing for profitability on their own websites. Hotels also need to better understand their returning customers and adjust marketing strategies more proactively, which incumbent technology solutions cannot fulfill. OwlTing is answering this need by leveraging innovations in global blockchain communities. By subscribing to OwlNest, hotels can reduce operating costs and improve customer experience and profitability via a cloud-based, integrated platform.
Integrated Hotel Management System built on OwlNest Blockchain Service
OwlTing’s product suite covers mobile e-commerce, local travel experiences and blockchain services. “OwlTing’s rich engineering experience enables us to provide innovative blockchain solutions for the global hospitality industry,” said Darren Wang, founder and CEO of OwlTing. “With the launch of OwlNest, our team, already working with hotels and hostels in the United States, Taiwan, Japan, Malaysia, will bring OwlNest to over 30,000 hotels by 2019. We expect the advanced blockchain technology behind OwlNest to create huge value for hotels and travelers by solving critical pain points. We are excited to offer the world a really awesome choice.”
OwlNest is the world’s first all-in-one Ethereum-based hotel management service with Booking Engine and Property Management System(PMS). Smart contracts in Ethereum allow flexible inventory management and efficient booking transactions, with enhanced customer privacy and transaction security, thanks to blockchain. Staffing costs can be greatly reduced by integrating hotel management systems (Booking Engine, PMS and Channel Manager) on a shared ledger, while consolidating orders from official hotel portals, OTAs or other distribution channels.
OwlNest blockchain services also allow hotels to design customized pricing packages, identify returning customers, collect customer preferences and automatically adjust promotion campaigns forseasonality and customer behavior more easily.
OwlNest’s scalable design also enables hotels to earn more revenue by adding on-premise services, local experiences and other travel partners to an integrated dashboard, providing a one-stop shopping experience on their own portals (Booking Engine). OwlNest also supports multiple payment gateways such as credit card, PayPal, WeChat Pay, Alipay, Apple Pay, and other blockchain-based payment services in the future. Hotels and hoteliers will be able to take full advantage of the online PMS and Booking Engine just like the Amazon Web Services (AWS) for small businesses, anytime, anywhere.
Taiwan as an Innovation Island for the Global Blockchain Industry
“OwlTing is an important strategic investment in our investment portfolio,” said Thomas Hu, founder and CEO of Kyber Capital. “Building a sustainable business model by solving real problems is the central issue facing the global blockchain industry. OwlTing has set a new commercial benchmark to which all aspiring blockchain entrepreneurs should be measured. We are proud to say that once again, our portfolio company has demonstrated the strength and potential of Taiwan in the field of blockchain.”