Another indication of IBM working strongly in this space. Had not heard this particular kind of application before. And also new to the hospitality space.
Travelport, IBM Collaborate on Blockchain for Hotel Commissions
Travelport, a business and consumer travel services provider, announced it is using IBM’s Hyperledger Fabric to guarantee commissions paid to travel agencies.
According to a statement released on August 20, the blockchain was designed with input from IBM, travel management company BCD Travel, and three unnamed hotel chains. The system aims to “put the lifecycle of a booking on the blockchain,” to reduce the amount of payment disputes.
In 2018, Travelport processed over $83 billion of travel spend over $2.4 billion in net revenue.
“Traveler modifications at property, no shows, and complimentary room nights are just a few examples that drive commission discrepancies which in turn generate escalations, cost, and revenue loss,” said Ross Vinograd, Travelport’s Senior Product Director.
“The traveler can modify their booking multiple times, leaving room for information to go missing. For example, if a traveler arrives and then extends a hotel stay, that information might not make its way back to us as booking data,” said Marwan Batrouni, Vice President of Global Hotel Strategy, BCD Travel. Additionally, blockchain will help close the “gaps” made by different payments systems. ... "
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment