Since the blockchain tourism disruptor Tratok was launched on 21st January this year, over 158,000 new users have been added.
The next 18 months will see phase one of the company’s worldwide hotel network complete its rollout, and the home-grown, privately funded company continues to expand months after it achieved a market capitalisation worth billions.
The revolutionary ecosystem features activity, accommodation and flight booking modules in addition to social interaction between tourists and fraud-free reviews.
Phase one will see the company expand further in the United Arab Emirates, increasing the number of rooms to 50,000, which is seen as a necessary push given that Dubai is to host the Universal Exposition 2020 later this year.
The first phase will also see Tratok enter a new market in the form of the Eurozone, which is the number one tourism and travel destination in the world.
The room target for the Eurozone is as high as 150,000 rooms.
This ambitious target for expansion is seen as a natural progression from the successful pilot tests that were performed in the UAE in Q3 of last year.
The flawlessly executed proof-of-concept tests saw service providers experience a 27.3% average rise in their profit margins, while significant savings were also achieved by customers, who reported a more enjoyable travel experience.
Eurozone service providers are likely to experience a similar increase in their profitability at an average of around 25%.
In combination with the leveraging of GRE and tourism board relationships, this should grow Tratok’s brand and usage at an exponential rate and ensure widespread industry adoption by the target demographic.
The same period will also see the customer base expand to 1 million verified users, with the aim being to convert at least 20% to active user status.
When the users experience the greater value for money in combination with the superior service, the target of 50,000 daily bookings for the Tratok Travel portal should be achievable within the first two years of operation.
The UAE and Eurozone property portfolio will include budget and high-end, luxury accommodation with the likes of business hotels, resorts, luxury chains and boutique hotels.
This will allow the largest number of people in terms of both business and leisure travellers to take advantage of the lifestyle and economic benefits that are unique to those who book accommodation via the Tratok portal and token.
Anyone who intends to travel to or from the UAE or the Eurozone should ensure that they have taken out a travel insurance policy of some kind before they set off on their journey.
Travel insurance is an important consideration for business and leisure travellers alike as it prevents financial problems that can arise from unexpected events occurring during travel, such as luggage being lost or stolen or flights being delayed or cancelled.
More comprehensive travel insurance policies can even guard against medical costs in the event of injury or illness taking place while overseas.