Tech Pioneers Sign Agreement to Restart Travel Industry Through Blockchain Powered Technology

Tratok and Hotel Data Cloud Sign Agreement to Restart Travel Industry Through Blockchain Powered Technology and Artificial Intelligence Enabled Recommendation Engine

The partnership will ensure that the data from Hotel Data Cloud's portfolio of over 11,400 hotels in 153 countries which feature more than 1.2 million rooms, will be utilized by Tratok's ecosystem and its 1.3 million verified users.

Two UAE based technology pioneers have agreed to form a strategic partnership that will help accelerate the revival of the global travel and tourism sector. Tratok, a blockchain-powered travel ecosystem, and Hotel Data Cloud, a content distribution channel for the hospitality industry, have joined forces to extend the services of both companies to their respective client bases. The partnership will ensure that the data from Hotel Data Cloud's portfolio of over 11,400 hotels in 153 countries which feature more than 1.2 million rooms, will be utilized by Tratok's ecosystem and its 1.3 million verified users.

This partnership offers multiple benefits for service providers and clients. Through leveraging Tratok's blockchain technology, and combining it with HDC's intelligent algorithms, both parties can benefit from timelier, more economic and transparent transactions in Tratok's sanitized ecosystem that is free from manipulation and fraud. At the same time, more accurate and standardized descriptions and data from Hotel Data Cloud will result in enhanced user experiences and higher conversion rates due to cutting-edge Artificial Intelligence content presentation. The combination means that clients get more affordable and better-matched offerings while service providers get better-matched guests and increase profits by up to 30%. This comes as a welcome relief to an industry which has spent much of the year being adversely affected by Covid-19.

"We are extremely proud to be partnering with Tratok to help restart the travel and tourism industry. The key to coming out of this crisis is to work together to make customers feel safe to travel again, while enabling hotels to streamline and be more cost-efficient through technological solutions," said Gregor Amon, co-founder of Hotel Data Cloud. Mohammed Altajir, Custodian of Tratok added: "The technology exists to address key problems in the sector and there is no excuse for lack of adoption given the sector's importance and growth potential. We are empowering stakeholders giving them the next evolutionary ecosystem."

The agreement represents another tourism milestone for the United Arab Emirates as two home grown, revolutionary and cutting-edge technology companies come together to offer groundbreaking products to the travel sector. The partnership also complements the country's aim to diversify the economy from natural resources to knowledge, innovation and the export of services. The partnership was brokered by the Middle East Hospitality Asset Managers Association. Mr. Amit Nayak, Vice President of HAMA Middle East commented, "This partnership is in line with the vision of Hama MEA – advancing the transparency and ease of doing business in a structured way for all parties involved."

About Tratok – Founded in November 2017, Tratok leverages blockchain technology to create an all-encompassing global travel ecosystem. Be it reserving a hotel room, booking a flight or renting a car, this multi-platform application will result in more economical, hassle-free arrangements for clients and service providers alike. Tratok offers significant advantages over existing conventional platforms. Principally, it lowers transaction fees, eradicates the need for intermediaries, saves time on bookings and results in more profit for service providers and savings for consumers.

About Hotel Data Cloud – Hotel Data Cloud (HDC) was founded in June 2016 as a solution to help hotels win back control of the descriptive content of their listings. The global platform stores a variety of current data, images and regularly updated descriptive information in a standardized format, sourced directly from hotels. This is freely accessible and automatically distributed to travel agents, tour operators, online platforms and intermediaries that facilitate bookings. HDC is headquartered in Dubai with global operations.

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SOURCE: Tratok Ltd