Blockchain and AI are there to transform our world. With the advent of modern technologies, a sort of digital transformation with more secure systems and the flow of information is about to come. These are not small problems but will eradicate all the confusion and doubts that people have in their minds about modern-day systems about data leakage and digital footprints would be ruled out.
More Transparent Commission Systems
Hotel commission systems are very complex now. With the introduction of AI and Blockchain, a more transparent and simple system is viable to be implemented. This will not only solve the bureaucratic behavior of lead providers but will also provide more predictability for hotel business as they will be able to see the information flowing without any tampering with it due to the establishment of this decentralized ledger of information introduced by Blockchain technology. The current system introduces missed opportunities due to a lack of transparency in the information systems and thus impacting the bottom line of the hotel industry negatively. With Blockchain we will be able to collate the real-time data and distribute it to concerned parties that too in real-time.
Simplified and More Secure Payment Systems
With the introduction of Blockchain technology, a more secure payment system would be possible in the hotel industry. This will ensure that there is no leakage or hacking of customer payment information when they will make an online payment at your hotel using debit or credit cards. This will provide more viability to partner hotels. Blockchain will also allow acceptance of digital currencies like bitcoins and Ethereum which are quite in demand and could open a new league of customers for partner hotels. This will introduce a more transparent, safe, and global ledger system which would be streamlined and would help reduce the overall cost to the hotel industry, which they could share with their customers in terms of reduced tariff rates.
Enhanced Collaboration Amongst Different Bodies in Hospitality Industry
Blockchain presents several benefits for the hotel industry and its conglomerates with the introduction of security and stability. All data in this sense are decentralized and would be traceable with databases at nodes that could be accessed all the time as they never go offline or be tampered through hackers or any other person with such intentions. It would simplify the payment systems and would enable a transparent flow of information among the partners in the hotel industry which would establish a more trustworthy relationship. This transparent flow of information amongst different companies would be accessed and stored only by the people who are authorized to do so and would enhance the overall collaboration in the hotel industry thus enriching the travel experience of the customers.
Better Tracking of Loyalty Programs
Loyalty programs are quite important in the hotel industry as they make a customer repeat their choice of hotels just so that they could save a few bucks and could experience the leisure of that hotel again. With Blockchain technology, these loyalty programs can be simplified and made much easier for the hospitality industry, so that only the liable customer would be able to access his points and redeem them. This would also enable a completely digitalized loyalty program with the introduction of digital tokens which could be used potentially anywhere in the partner hotels and at any time with enhanced security and benefits. This would eliminate loyalty systems frauds in the system today.