Blockchain Travel Platform Lost 90% of Booking Volumes Due to COVID-19

The global travel industry has come to a halt after governments around the world announced strict closures to prevent the spread of COVID-19.

At Unitize’s Virtual Blockchain conference on July 6, Juan Otero, co-founder and CEO of online crypto travel agency Travala, backed by Binance, said the platform has seen a sharp drop in volumes. reservation.

Otero said that until February, Travala was growing exponentially with a steady increase in booking volumes. But as the coronavirus pandemic reached crisis levels, the company saw an 80-90% drop in total bookings in a matter of weeks.

Pick up around the corner?

However, it looks like Travala might already be ready to bounce back. Otero said that in May the company saw 200% month-on-month growth while last month it saw 160% growth in hotel bookings by domestic travelers. That, Otero mentioned, was almost twice the business they were bringing in in the same time period last year.

He estimated that it would not be until September or October that they would finally see a resumption of international bookings on Travala.

Integrating cryptos into the travel industry

In a recent announcement, Travala revealed its partnership with leading travel booking platform Expedia, which will allow users to pay for any of the 700,000 hotels listed on the platform in more than 30 cryptocurrencies. Travala also has a partnership with

According to Otero, the platform currently allows its users to book from more than two million properties in 230 countries.

Travala has also signed an agreement with TravelByBit, an encrypted flight reservation service, to further expand its travel services.

Source link

Previous Blockchain Travel Platform Now Accepts Payments in Cardano's ADA at 90,000 Destinations
Next University Students Facilitate Online Booking Process For Local Tourism Amid Covid-19 Pandemic | New times

No Comment

Leave a reply

Your email address will not be published. Required fields are marked *