The importance of NFTs in disrupting traditional processes is gaining steam. We have heard of NFTs used in arts, music, sporting tickets, and receipts. What if we could use this technology for room reservations in hotels? 

Pinktada is a startup that focuses on being a gateway to convert room rights into NFTs that hotel guests can sell instead of directly asking for refunds. This way, hotel and resort owners can avoid getting stuck with last-minute bookings cancelation.

Hotels are already getting in the NFT flow. 

Pinktada is working with resort hotels such as Casa de Campo in the Dominican Republic and Noble House Hotels & Resorts in the USA to sell room reservations in the form of nonfungible tokens. This ensures a win-win scenario; hotels don’t have to worry about refunds, and the travelers have an opportunity to sell their tokens if they are unable to meet up with their lodging. 

For Casa de Campo, It will soon implement NFT-for-Hotels on its hotels in Mexico, Hawaii, the US, and the Caribbean. Through this system, guests get a discount on every booking they make. 

Moreover, if the guests change their lodging plans, they can sell their tokens within the Pinktada network. What if there’s nobody to buy the ticket? Pinktada will be the last resort for buying them. 

Apart from Pinktada, another startup leveraging NFTs to build its ecosystem is Stay Open. Before spring, Stay Open focused on converting office spaces to hotel lodgings, and this spring brought with it the idea of selling 10,000 NFTs for 0.1 ETH each. The money will be used to raise capital for adding new locations. 

The NFTs give their holders the right to stay in any of Stay Open’s upcoming or existing lodges for one night free of charge. 

The main problem with using NFT for hotel reservation

The steep decrease in interest in NFTs has led many to believe the system is experiencing a bust. While the current macro-economic sector allows rumors like this to gain ground, NFTs are positioning themselves as an integral part of our daily lives. Arts, Music, Sports, and now Hotel reservations are a few of the NFT-ridden spaces. 

While there are talks of NFts being a routine part of board meetings, one problem highlighted in the hotel industry involves verifying the guest's identity. This concern takes security to the forefront, but as explained by Pinktada, the best approach to ensuring security is to build a community outside which the tokens are not valid. The hotel has the guests' data, and there will be physical verifications too.