Asia Biz News - Asian Business News and Tenders
OwlTing Offers First Blockchain-Based Integrated Lodging Management Solution
December 4, 2017
Taipei-based OwlTing, a technology company focused on e-commerce utilizing blockchain for its solutions, just launched what is believed to be the world's first blockchain-based integrated lodging management platform to help hotels worldwide improve brand awareness and customer satisfaction.
The product offering is called "OwlNest Blockchain Hotel Management Service".
According to WTTC, the global travel & tourism industry is a US$7.6 trillion market, roughly 10% of the world's GDP. Over decades, hotels need to manage their own booking reservations from many channels and spend long hours sorting out the room availability and customer schedules.
With the rise of various online travel agencies (OTA), hotels must be able 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 strategy more proactively, which incumbent technology solutions cannot fulfill. By subscribing to OwlNest, hotels can reduce operating costs and improve customer experience and profitabliy via a cloud-based, integrated platform.
Integrated Hotel Management System built on OwlNest Blockchain Service
OwlTing's product suite covers e-commerce, local experiences and blockchain Services. "OwlTing's deep engineering experiences enable 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."
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 by seasonality 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 an one-stop shopping experience on their own portals (Booking Engine). OwlNest also supports multiple payment gateways such as credit card, PayPal, Stripe, WeChat, Alipay, Apple Pay, Bitcoin and other cryptocurrencies 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. "Builidng a sustainable business model by solving real problems is the central issue facing the global blockchain industry.
OwlTing is a technology company focusing on e-commerce and blockchain. OwlTing's services include social platform, marketplace, global travel experiences and blockchain solutions. OwlTing's global travel experiences platform is already the top & fastest-growing travel platform in Asia since its launch in 2017
In 2017, OwlTing has released the world's first Ethereum-based food provenance system OwlChain in May and launched the world's first blockchain hotel management service OwlNest in November.
Headquartered in Taipei, Taiwan, OwlTing operates globally with branch offices in USA, Japan and Malaysia. The company plans to expand to Europe in 2018.