Hotels Using NFTs for Room Reservations

NFT Check In

Non-fungible tokens, or NFTs, are moving into the hotel market. Travelers will have the opportunity to buy a NFT to secure their hotel room. Doing so could allow them to snag a discount off the rack rate, while providing a kind of insurance policy should their plans change. These NFTs could then be resold, effectively transferring the reservation to another guest.

The program appeals to hotels because it protects their revenue stream should a customer cancel, leaving the room vacant.

Pinktada’s Role

Start-up Pinktada offers a hotel booking system based on NFTs. When a customer makes their reservation with Pinktada, the hotel collects the revenue, which is then guaranteed. Should the traveler change their plans, the NFT can be sold or retained for use at another Pinktada property. As a safety net, Pinktada will also buy back the NFT. The system allows the hotel to count on revenues while the traveler enjoys flexibility.

Pinktada’s portfolio of hotels include locations in the Caribbean, Mexico, San Francisco, and Hawaii. In the Dominican Republic, Casa de Campo partners with Pinktada and uses NFTs to sell room reservations.

NFT’s Digital Relative

Another possible marketing win is that the NFTs could snag the hotels that offer them a new type of clientele: those who love crypto. These travelers may not book using traditional methods.

NFTs are a kind of cousin to cryptocurrencies, and they are neighbors on the blockchain. They also have gotten attention of late given that some of the digital pieces have sold for millions. As the tokens go mainstream, it remains to be seen how that impacts the way people travel and find lodging.

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James Flippin ABOUT James Flippin James Flippin is the son of a financial advisor who grew up hearing and learning about bond yields, interest rates, the stock market, and the ins and outs of Wall Street. After stints as a licensing and business broker for Marcus and Millichap in New York City, James moved into broadcasting and became a reporter and anchor. He covered crime, politics, finance, and tech at NBC News Radio while working part-time as a producer for SiriusXM. James graduated from the University of Delaware with a bachelor’s degree in political science and economics. He's also an accomplished podcaster with over 10-years of experience.

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