What is the issue and what is at risk?
The two incumbent companies generated approximately $30 billion in revenue from reservation commissions last year.
We could refer to these two channels as the "Primary Reservation Sources" or Gatekeepers,
as they are responsible for the majority of reservations and are taking up to 50% of the profits.
- The customer is consistently charged a hidden fee that did not decrease with the advancement of technology, but instead increased.
– The current level of power concentration is detrimental to both the public and hotels, creating an unequal dynamic: complete reliance and higher fees (commissions).
- The incumbent's only interest is to make more money, so the ranking of the hotel or property is based on the commission they receive, rather than the actual quality and price they offer.
A potential solution to the current situation is to implement a co-ownership model for the platform.
The only technology addressing the issue of trust, governance and incentive currently existing is defined by blockchain. Therefore, we are currently looking for partners in blockchain technology to create a shared ownership of the platform among all stakeholders, including hotels, hotel managers, developers, customers, and locality supporters.
How do you devide the commissionable amount of $30 billion distribute among the stake-holders?
- The customer is consistently charged a hidden fee that did not decrease with the advancement of technology, but instead increased.
– The current level of power concentration is detrimental to both the public and hotels, creating an unequal dynamic: complete reliance and higher fees (commissions).
- The incumbent's only interest is to make more money, so the ranking of the hotel or property is based on the commission they receive, rather than the actual quality and price they offer.
What is a potential solution?
A potential solution to the current situation is to implement a co-ownership model for the platform.
The only technology addressing the issue of trust, governance and incentive currently existing is defined by blockchain. Therefore, we are currently looking for partners in blockchain technology to create a shared ownership of the platform among all stakeholders, including hotels, hotel managers, developers, customers, and locality supporters.
How do you devide the commissionable amount of $30 billion distribute among the stake-holders?
- Introduce a token and a smartcontract, an ownership-certificate
- Proportional to the reservation each time a token is generated, correspondng to the total of commissioned value of 15%.
- 10% of that received 15% commission is returned to the customer.
- On each room-reservation a token is assigned to the participating, involved hotel. The value of the token is depended on the value of the reservation.
- We are introducing Glocals, there are local who can developers with content or advise/guide customers who are visiting that spot/area.
- Guest can reward Glocals with Tokens that they own.
- Platform will be open for developpers, they will earn tokens based on the their code-input.
- With a smart-contract hotels can be equity holders and can have extra space on their page.
Reservation and Token buildup and assignments
-
Each reservation is commission-able for 15% of the total value of the reservation.
- 5% of this goes directly to the platform, to make sure that the platform minimum costs are covered.
- 10% of rest revenue goes to the Customer and is translated as a TOKEN, The customer should be able to exchange this token for services from hotels or convert to fiat-money.
- Guest can award a Glocals by assigning his/her tokens to the Glocal.
- Advertisement or partner or sponsor-content, this is variable but it will be also creating token and covering some part of development costs, this be part of the platform income.
- Converting the token burns the token