Arise Travel, which uses a secure blockchain to store hotel rates, commissions and inventory, on Tuesday announced the beta release of its network, a decentralized digital marketplace, designed to rebuild hotel distribution infrastructure and extend the value of inventories.
Arise Travel (not associated with Arise Bank) plans to leverage blockchain technology to allow hotels greater control over their commissions and rates, enabling them to respond to market demand and inventory conditions, and make payouts to distributors electronic and automatic. Hotels will be able to upload information from their existing systems onto the Arise Travel Network, where distributors and and partners will have direct access to data in a secure, accessible, and flexible way, states the company.
Arise Travel CEO Nadim El Manawy said, in a statement: “Blockchain technology is a good fit for hospitality because it enables a secure, traceable, and trusted transaction between hotels and distributors. No more time wasted on commission reconciliation, no more cumbersome contracts.”
The company’s CTO, Alex Lamb, added, “Blockchain technology allows us to create a shared, distributed cache of hotel room and rate information. All parties connected to our network have a local copy of hotel data that automatically stays up-to-date, removing the need for hotels to enter their information on multiple proprietary platforms, while eliminating out-of-sync cache issues that plague the industry today.”
To learn more about Arise Travel, visit https://arise.travel/.