MADRID – If you are going to book a hotel in Spain: pay attention! There is a way to save a lot of money. Major booking sites such as Booking and Trivago make their money from sky-high commissions. They make a hotel room at least 20% more expensive.
Now there is a simple way in which you can book the exact same room in a hotel much cheaper. Just as Uber is massively displacing taxis in the streets due to technology, the travel world is also undergoing enormous change that greatly benefits consumers. This has everything to do with blockchain. A complicated story, but it is about a technological revolution with just as much impact as the invention of the internet. The simplest explanation of how blockchain works can be found here on YouTube.
Blockchain is a threat to the revenue model of banks, notaries, insurers and also hotel booking sites, and many other intermediaries who earn a lot of money from commissions. For example, you can already see how Bitcoin – based on blockchain – poses a serious threat to banks and how they are desperately trying to stop it.
LockTrip
Blockchain has created many innovative start-ups in recent years, and one of them is LockTrip. A hotel booking site where you can book the same room much cheaper than, for example, on Booking.com. Simply because LockTrip does not have a high commission hanging on the bow as with billion-dollar company Booking. Usually saves at least 20%, but can go up to 50%! The hotel owner simply gets the price for the room that he wants. He is happy, the guest is happy, only the already wealthy directors and shareholders of Booking are not happy.
But what is the revenue model of LockTrip? That is also a somewhat long and complicated story, but very briefly it comes down to the fact that the smart developers themselves own a certain percentage of the tokens (a kind of shares, but without control) that are traded on the crypto exchange. With every hotel booking, tokens are ‘burned’, which ultimately leads to more and more scarcity, and the price of the token rises.
The latter is only important if you have invested or want to invest in LockTrip. People who go on holiday or on a business trip and want to book their hotel room as cheaply as possible can forget that right now.
Tip
When you book a hotel, check Booking first. After that, go to LockTrip and compare the price. It happens sporadically that the price is only a few euros difference or the same. What goes on behind the scenes of those booking sites is impossible for a layman and even for many hotel owners. For consumers, booking a hotel via Locktrip is exactly the same as with Booking, for example. You log in, search for a hotel, book a room and pay with your credit card. You will have the confirmation in your mailbox within a second and you are done.
Click on LockTrip and sign up. With your first booking, you will also receive an extra 5% discount on the already lowest price!
Code extra 5% discount on first booking: 5NXFJ
