18 NOVEMBER 2019
BTN also goes out by email every Sunday night at midnight (UK time). To view this edition click here.
The Business Travel News
PO Box 758
Edgware HA8 4QF
United Kingdom
info@btnews.co.uk
© 2022 Business Travel News Ltd.
New blockchain technology which is claimed to enable error-free hotel bookings has been launched by global digital travel specialist Webjet, the owner of the WebBeds B2B accommodation provider.
The system, Rezchain, is said to enable users to eliminate costly discrepancies that occur in up to 5% of hotel booking transactions. The technology was pioneered in collaboration with Microsoft.
Webjet says using blockchain, which also underpins crypto currencies, makes Rezchain the technology’s first application to verifying hotel reservations as a way to combat a situation where a third of such bookings have to be amended.
Similarly, Webjet says, a tenth of bookings experience some manual intervention with discrepancies occurring typically in price, duration, booking status, currency, board basis or room type because amendments were not recorded properly.
Webjet managing director John Guscic said: “Settlement between hotel suppliers and travel partners can be a complex, time consuming and ultimately costly process.
“With multiple IT systems speaking different languages, mistakes are probable and the default position is often to write off debts when the situation is not clear.
“For years, the industry considered it a cost of doing business. With Rezchain, it doesn’t have to be that way any longer.”
All comments are filtered to exclude any excesses but the Editor does not have to agree with what is being said. 100 words maximum