LANGLEY, UK, 22 August 2019: Travelport announces the development of a blockchain solution to improve the hotel commission reconciliation process.
Working with IBM Services, BCD Travel and hotel chains, the blockchain solution aims to optimize hotel commission processing.
It will manage reconciliation, tracking and accounting for commission payments owed from hotel chains for services purchased by travellers via booking agencies.
By creating an accurate and shared view of the booking status and commissions, all parties stand to win, Travelport said in the announcement.
Blockchain technology behaves like an online ledger with the ability to collect data, build upon that data in real-time, and then independently and securely report information to any number of parties based on permission.
Commenting on the technology, Travelport senior product director Ross Vinograd said: “Blockchain technology applied to commission reconciliation has the potential to deliver real ROI to both a travel agency and the hotel.
Traveller modifications at the 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. Our aim is to put the lifecycle of a booking on the blockchain and we believe
doing so will drive transparency, trust, and ultimately booking
volume.”
The hotel commission reconciliation solution was unveiled earlier this month at the GBTA Convention in Chicago.
