Over the years technology got improved and we saw the advanced way people started doing things. One major technology which affected the world so much was the use of internet. Internet gave the world an opportunity to search for things and do so much online connecting to people all across the globe with ease. All sectors of the economy were affected as with internet gave the opportunity to reach out to a wide range of people no matter where they are. One benefit of the internet use was hotel booking as people now have the ability to search online for a good hotel with good rooms and services and they get to book ahead from wherever they are instead of combing the streets for hours in search of a good hotel. With this the hospitality industry has witnessed a tremendous growth over the years but a close look at it shows there are still some shortcomings which need to be addressed as soon as possible.
A team of experts in an attempt to make hotel booking and experience a lot easier, cheaper, better took out time to fish out some of the challenges which needs quick attention and they discovered the hospitality industry is faced with the various issues listed below;
· Double booking as this happens from time to time and most times to proactively prevent this type of administrative errors, hotels usually invest in a robust Property Management System (PMS).
· Incorrect data like when a customer gets assigned to a non-smoking room after asking for a smoking room.
· Expensive booking portals where charges are between 15% to 25% fees on the booking cost and a part o this is paid by the guest and another paid by the host.
· Platform maintenance as companies spend resources on infrastructure so as to maintain an Over-The-Air service up and running.
· A fee charged for the financial institutions between a customer and a hotel for transactions processing.
· A 3% fee charge for booking an international hotel discreetly from the guest for transaction processing.
· A higher currency conversion fees as when someone pays with foreign currency for room booking, the rates of conversion is usually higher than the normal rate as at the time of booking.
After taking time to analyze all the above listed issues, this team putting their years of experience together, came up with an exciting solution called EMPIRE HOTELS. With this all issues which the hospitality industry has faced for so long will be resolved. Empire hotel is offering a platform which eliminates third parties and leverages the blockchain technology for the facilitation of better data management and transactions system which all hotels will enjoy. A currency which the hospitality industry will use is being offered by Empire Hotels and with it an easy-to-use platform for the general public will be offered and also facilitation of an API for integration with other systems will be done. Empire Hotels offers a platform which makes it possible for hotel bookings to be executed as crypto transactions and all transactions will be executed and stored in a decentralized P2P network giving the platform an opportunity to provide improved data management and reduced costs of transactions when compared to other platforms which can be found in the market.
PARTNERS
Empire Hotels have great partners including; SmartCash, goldfingr, Coincierge Club, Marketkaps.
BENEFITS OF USING THE EMPIRE HOTELS PLATFORM
No doubt, the Empire Hotels platform offers so many benefits which users across the globe will find very amazing and these benefits includes;
· Security and reliability as blockchain will be used to process transactions and this will give top transparency and security which are very important to all.
· Cheaper booking as transaction fees will be greatly reduced with the use of cryptocurrency for hotel bookings and also international payment charges and currency conversion fees will be ruled out.
· Accurate reservation using blockchain technology as bookings will be executed as crypto transactions in the platform and prior to confirmation, the room timetable is verified on the blockchain thereby eliminating double-booking possibility.
HOW IT WORKS
Empire Hotels has a platform with which booking transactions and inventory management data are stored in the blockchain network for effective data management. Hoteliers can list their hotels for free on the platform and guests can get to browse through the hotels listed. Payments using cryptocurrency (EMPC tokens) can be done on the platform by guests who will then get converted to fiat and the platform pays to hoteliers. Added services are also rewarded to guest when they use the Empire Hotel’s platform more frequently. Hoteliers will be charged for every booking which will be made through the Empire Hotels platform. Transaction cost will be 2.99% if other cryptocurrencies are used for the booking and 7.99% if fiat currency is used for the booking transaction. There will be no fee charge if EMPC tokens are used for the transaction.
Empire Hotels platform has been specially designed to have three major modules which will give users topclass experience and these modules includes;
· Payment module will allows transactions booked to be completed with both cryptocurrency and fiat currency. Cryptocurrencies like Ethereum and also EMPC tokens can be used by guest to book for rooms and extra benefits like discounts, incentives and value added services will be given to users who use EMPC tokens to pay for services.
· Ratings module as Empire Hotels platform records all user rating in the blockchain network making it transparent and impossible to get altered. This will make guest find the right hotels and also hotels to be aware of what guests needs. Users who register will do identity check (via accredited third-party company) in other to ensure frauds and banned users don’t get to make transactions. The protocol checks user ratings and status each time transaction is initiated to ascertain if the user is eligible and genuine.
· Decentralized Arbitration Module which presents a decentralized and democratic support from Empire Hotels community in case of disputes or claims by counting on random and impartial arbitrations and this adds considerable credibility to the process. (See whitepaper for more details about these models. See here; https://www.empirehotels.io/docs/en/whitepaper-en.pdf.
EMPIRE HOTELS APPLICATION
A Minimum Viable Product (MVP) has already been developed and specially built with all features including application APIs, host module and guest module. All modules are integrated with easy-to-use and also crypto wallet which is fully functional.
· The Host Module: here the host has the ability to create an account and create and manage their properties, rooms, amenities, bookings and all other entities in the process.
· The Guest Module: here, all iOS and also Android users will have the opportunity to access an app fully functional and with it they can create an account and also navigate the properties, create bookings, manage their wallets and also access other details. A secure ID check process will be undertaken first before users can start using this platform and phone numbers will also have to be validated. Bookings can be paid for with either fiat or EmpireCash.
· APIs: with this, hotels will have access to an easy to use interface which gives them an opportunity to initiate transactions and query platform data without any human action needed.
EMPIRE HOTELS TOKEN DETAILS
Empire Cash tokens will be issued by the Empire Hotels platform (EMPC tokens) which will be used for all kinds of transactions and incentive model on the platform. There will be an Initial Coin Offering during which EMPC will be issued to the general public and it will commence Q4 of 2018. Discounted rate will be offered to buyers during this period.
BENEFITS OF USING THE EMPC TOKENS
· EMPC tokens can be used for subscription fees payments by hotel managers on the platform and also reward guests with the EMPC tokens which they can use to enjoy extra hotel services.
· EMPC tokens can be used for hotel room bookings at a discount rate.
· Arbitrators on the platform can earn EMPC token on the platform with which they can book hotel rooms or services in any of the hotels listed on the platform.
EMPIRE HOTELS TOKENOMICS
A total supply of 1, 350, 000, 000 EMPCs will be made available. There will be an Initial Coin Offering (ICO) during which $36, 000, 000 will be raised through the panned phases shown below;
· Total supply of token: 1, 350, 000, 000
· Total token for sale: 900, 000, 000
· Token base price: $0.1
· Total token sale reserve: 250, 000, 000
· Token for team, advisors: 200, 000, 000
EMPIRE HOTELS USE OF FUNDS
Here is a breakdown of how funds generated will be spent;
· Project development: 30%
· Accounting: 2%
· Recruitment: 5%
· EmpireCash Network: 5%
· Support: 5%
· Research: 8%
· Legal services: 15%
· Marketing investment: 30%
EMPIRE HOTELS ROADMAP
November 2017: first draft of the idea
March 2018: Smart-Contract Design
March 2018: Whitepaper Development
June 2018: Website + Dashboard Development
February 2019: Exchange Listing
April 2019: App Launch for Android and iOS
July 2019: EMPIRECASH Pay Launch
TEAM
Renato Dimaezio: Co-founder, CEO
Siraj Sayed: CTO
Raquel Milreu: Chief Marketing Officer
Bruno Mezencio: Co-founder, COO
Luis Aguilar: VP, Corporate Development
Inna Grinoka: Chief Finance Officer
ADVISORS
James Sowers: Chief Advisor
Francois-Pierre Le Page: Advisor
Kirill Bensonoff: Partnership Advisor
Paulson Ambookan: Growth Advisor
Anthony Johnson: Advisor
Chris Bokwoski: Hotel Industry Advisor
Indeed with Empire Hotels platform, hotel booking all across the globe will become a lot faster and easier. This is a unique idea the world has been patiently waiting for and I am glad it is finally here. Please take out time to go through the website and whitepaper for more information about this great project and also don’t forget to be part of it as it will definitely be a huge success. Also, stay connected with the team and other participants across the globe through the different Empire Hotels different social media platforms whose links are provided below;
ETH: 0x5D3D7FC48bAacC703d9dd27cB3Fdd86008577531
