OwlTing, a Taiwanese technology company focusing on blockchain and e-commerce, is launching "OwlNest Blockchain Hotel Management Service," an integrated lodging management platform to assist hotels around the globe improve customer satisfaction while maintaining profitability. OwlNest is an Ethereum-based hotel management service with Booking Engine and Property Management System. Smart contracts in Ethereum allow flexible inventory management and efficient booking transactions, with enhanced customer privacy and transaction security, due to blockchain.
The global travel & tourism industry is a $7.6 trillion market, that makes up approximately 10 percent of the world's GDP. The internet has been a transformational force, lowering costs, providing more access and more efficiencies for travelers. At the same time, large and small hoteliers deal with stiff competition. Hotels need to manage reservations that come in from different channels and often spend a great deal of time sorting out room availability and customer schedules.
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, online travel agencies or other distribution channels.
OwlTing's product suite covers mobile e-commerce, local travel experiences and blockchain services. The company works with hotels and hostels in the United States, Taiwan, Japan and Malaysia, and plans to bring the solution to more than 30,000 hotels by 2019. The cloud-based platform can save subscribers money, reduce operating costs and improve customer experience. OwlNest blockchain services let clients design customized pricing packages, identify loyalty, collect customer preferences and automatically adjust promotion campaigns according to seasonality as well as customer feedback.
The big draw for hotels is OwlNest’s scalable design. Hotels can beef up sales by adding on-premise services, local experiences and other travel partners to an integrated dashboard, providing a one-stop shopping experience, and hoteliers will be able to take full advantage of the online property management service and booking engine.