Travelport, IBM Collaborate on Blockchain for Hotel Commissions
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. “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.
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. In a separate statement anticipating the official announcement, Vinograd said: “With travelers having endless options for accommodations, a booking alone is not enough to provide a commission to an agency… With blockchain, we’re able to reduce costs and ease burdens for all parties involved by improving transparency, accuracy and efficiencies to enhance the process.”