The Game of Travelling Industry Is About to Change !

At least once a year most people plans for a trip inside or outside their home country to leave the work and office life behind for a small period of time.

The internet have added a lot to the travelling industry as there is now more options and places you have never thought it was possible before to visit due to our dependence on the travel agents who used to give us a limited options based on what they have or what they only get profit from ,also due to the used to be a monopolistic industry the prices were extremely high so you had to spend all of the savings you have made during the year for a few days holiday. until the internet came with a travel websites and given us unlimited options that were not available before ,The prices started to decrease due to competition and due to the increase in hotels supply since many hotels owners had the option to post their hotel online.

BUT …

Unfortunately a few websites managed to control and monopolise the travel booking industry “as the hotels wasn't been able to compete in this wide spread industry “ by utilising their market power forced the hotels to sign “Rate parity agreement” which prohibits hotels (and other parties) from publicly selling rooms at prices below those displayed on Booking.com or Expedia.

This act increased the hotel rooms prices by 15 to 45% on average without any additional services or room sizes, so the hotel is selling the room by minimum price it can give and all the profit goes to those few companies.

Until …

A new company came up in 2017 with an enthusiastic team with an idea to eliminate the intermediaries by connecting the customers with the main vendors with no added commission to the service they're providing . This company is called LockTrip which is the First Hotel Booking &
Vacation Rental Marketplace Building a 0% commission, decentralised shared economy that addresses critical problems in the current global travel industry: syncing errors, ineffective inventory mapping, absurdly high OTA commissions and expensive distribution infrastructure. Their goal is to harness blockchain and deploy a self governed ecosystem that will benefit all market participants.

With a starter of 100,000 Hotels & 1000+ Airlines already live and a 300,000 Hotels inventory will be deployed in the few coming days made the prices of hotels lower by 15 to 45 % on average than Booking.com and Expedia.

After i have checked the company late 2017 and followed up the project from the very beginning i have decided to book for me and my family a trip to Rome-Italy with 50 USD less than Booking.com price per night.

we have saved 500 USD in our trip as we have stayed 5 nights with two rooms where we used the saved money for sightseeing and better restaurants meals.

• if you want to compare the prices, you have to register to the site : https://Locktrip.com as the “rate parity agreement” prohibits the site from showing the prices publicly so they are showing the prices with their utility token .

The Conclusion

LockTrip have created a new era in the travel industry and sooner or later it will drag the industry prices down with more profit to the hotel owners and less travel costs for the travellers.

LockTrip.com 0% Commissions on bookings