Travelport, a business and consumer travel service provider, will be using IBM’s Hyperledger Fabric to guarantee commission paid to travels, with the main objective of the initiative is to put the lifecycle of a booking on the blockchain to reduce the amount of payments disputes.
The new blockchain-based platform was designed with input from IBM travel management company BCD trave and three hotel chains that were not disclosed at the time of the publication of this article.
According to Ross Vinograd, Senior Product Director at Travelport, traveler modifications at the property, no shows, and complimentary room nights are just of the few examples that drive commission discrepancies which in turn generate escalation, cost, and revenue loss.
The new system will track, manage and account for commissions owed to booking agents on behalf of hotel chains, this will ensure that payments are more accurate and quicker than the current manual method.
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