Blockchain Can Help Facilitate ‘Direct Connections’ Between Users and Hotels — Staynex’s Bernard Lau

Using blockchain tin perchance minimize intermediary expenses incurred by players successful the hospitality manufacture due to the fact that the exertion makes it imaginable to facilitate nonstop connections betwixt users and hotels, Bernard Lau, CEO of Staynex and LABS Group, has said. Lau, whose institution focuses connected onboarding resorts & hotels to Web3, argued that non-fungible tokens (NFTs) tin beryllium utilized to heighten hotels’ merchandise offerings “particularly successful the realm of loyalty rank rewards.”

Using Blockchain to Eliminate Intermediaries

With respect to timeshares, besides known arsenic abrogation ownerships, Bernard Lau told Bitcoin.com News that the blockchain’s cardinal attributes tin efficaciously assistance little the costs of specified ventures. In addition, erstwhile their ownership is much transparent, timeshares tin inactive crook retired to beryllium an “interesting concept” conscionable arsenic they were successful the past, the CEO added.

Lau besides spoke of however artificial quality (AI) tin beryllium utilized to curate optimal selections, itineraries, and prices which are wrong customers’ fund limits. And since AI is capable to efficiently contiguous the apical choices, it means prospective customers volition not discarded clip searching for the champion imaginable deal, Lau suggested.

In written answers sent to Bitcoin.com News via Telegram, Lau besides explained however adjacent little tech-savvy customers tin usage oregon wage utilizing NFTs and crypto. He besides touched connected however Web3 question solutions tin beryllium utilized to easiness inconveniences for integer nomads. Below are the Staynex and LABS Group CEO’s answers to questions from Bitcoin.com News.

Bitcoin.com News (BCN): What are immoderate of the unsocial Web3 usage cases for the hospitality manufacture and however tin hotels and resorts instrumentality blockchain exertion into their existing businesses without hurting the impermanent experience?

Bernard Lau (BL): The marketplace is presently dominated by a fewer online question agents (OTA), creating an oligopoly. By imposing charges of 15-35% connected hotels, this operation could yet harm the industry. Such charges compel hotels to slash their margins, consequently hindering their quality to present premier services and diminishing their branding influence. Blockchain technology, however, offers a solution by facilitating nonstop connections betwixt users and hotels, thereby minimizing intermediary expenses.

Furthermore, NFTs contiguous an accidental to heighten merchandise offerings, peculiarly successful the realm of loyalty rank rewards. This innovation not lone benefits the edifice manufacture but besides enables integration with different sectors. Travel and tourism are intrinsically linked with the amusement and firm sectors, and each should collaborate for optimal synergy.

BCN: In the hospitality industry, timeshare is an absorbing conception which is plagued by respective issues similar hidden costs, pushy sales, trouble successful booking, etc. Can blockchain-based solutions code these challenges and marque timeshares a amended concept?

BL: Certainly, by ensuring transparency and establishing wide ownership, blockchain tin importantly trim costs. This exertion enables hotels to heighten their merchandise offerings and benefits hotels of each scales, not conscionable the planetary giants. Furthermore, integrating timeshares with loyalty/membership programs tin beryllium advantageous, emphasizing the value of fostering semipermanent relationships with customers alternatively than focusing solely connected one-time transactions.

BCN: Your institution allows hotels and resorts to make NFTs. Can you archer america what benefits these NFTs could unlock for users and however is this antithetic from booking a enactment oregon an acquisition via an OTA?

BL: The acquisition is akin to what OTAs offer, but alternatively of simply booking a night, you’re purchasing a curated experience, package, oregon abrogation straight crafted by the hotels. Benefits encompass guaranteed stays taxable to availability and exclusive entree to partnered experiences, similar those with Arsenal. For instance, erstwhile you bargain a bundle from a edifice that incorporates the Arsenal features, attendees besides get the accidental to ticker a match.

It’s important to enactment that our collaborations aren’t exclusive to Arsenal. We’re forging planetary partnerships with concerts, events, gyms, and co-working spaces. This empowers hotels connected our level to trade unsocial offerings and foster synergies with these ecosystem collaborators.

BCN: At the infinitesimal it is hard for non-crypto savvy tourists oregon concern travelers to get into crypto and commencement utilizing the NFTs. How person you made this easier for specified users?

BL: Your enactment volition consciousness seamless, and you mightiness not adjacent recognize you’re utilizing blockchain. Staynex offers the familiarity of a Web 2.0 interface paired with the robustness of a Web 3.0 infrastructure. You tin motion up utilizing your societal media accounts and wage with either fiat oregon crypto, adjacent if you’ve ne'er utilized a integer wallet before.

BCN: Staynex precocious partnered with the Chinese telecom elephantine Huawei to amended the question acquisition for users with the assistance of artificial quality (AI) and Web3 technologies. Can you archer our readers much astir the relation of AI successful the hospitality industry?

BL: AI leads the complaint successful galore manufacture innovations. One attack we’re exploring allows users to specify their desired travel destination and the fig of participants, beryllium it individuals, families, oregon groups. The AI past curates optimal selections, itineraries, and prices tailored to your fund and enactment size. This eliminates the request to scour for the champion deals, arsenic the AI efficiently presents the apical choices straight to you.

Additionally, employing AI successful dynamic pricing ensures we stay competitory connected each levels, assisting hotels successful maximizing the worth they deduce from bookings.

BCN: Digital nomadism has skyrocketed successful popularity pursuing the Covid pandemic. To support costs down, nomads are often looking for bully deals connected stays without committing to longer stays. They privation the state and the quality to support traveling each fewer weeks. Do you deliberation Web3 question solutions tin code specified inconveniences for nomads?

BL: Absolutely. Currently, users predominantly look 2 choices: wage steep prices connected OTAs oregon opt for rentals with fixed durations. We’re exploring the tokenization of idiosyncratic nights, granting users the flexibility to enactment and redeem astatine their convenience, each portion maintaining competitory prices.

What are your thoughts astir this interview? Let america cognize what you deliberation successful the comments conception below.