‘RNTs’- The New NFT Booking Concept for Hotels

Several companies are now offering the services of booking hotels without payment in cryptocurrencies. These new IFTs will have to answer questions such as what is a fair price for using hotel rooms and how do you take care of transactions fees?

The “hotels using nfts to create reservations” is a new concept that has been created by the RNTs team. It will be implemented in hotels across the world, and it will allow them to use NFTs as a booking method.

Hotels are proposing to convert cancelled reservations into non-refundable tickets (NFTs) in order to prevent losing money due to last-minute cancellations. The new concept, dubbed ‘RNTs’ (room-night tokens), will require those who cancel bookings to sell their RNT on a marketplace dedicated to selling unused rooms (similar to StubHub for concert and sporting event tickets), rather than jeopardizing a business’s cash flow by requesting a refund or re-booking.

One of the hotels planning to adopt the new strategy is a resort in the Dominican Republic called Casa de Campo Resort & Villas, which has partnered with Pinktada, a new booking system platform which allows users to buy RNTs for a specific room, time period, or set of nights. 

According to the platform, it is a replacement for the outdated model for securing reservations, because when an RNT is purchased, the hotel’s revenue is guaranteed. This means that if a customer wishes to cancel or re-book their stay, they can do so by transferring, selling, or swapping their RNT on Pinktada up to two days prior to check-in.

Pinktada will also launch a marketplace where users may acquire RNTs in bulk and then sell them for the price of individual hotel nights on the site.

RNTs, like any other commodity, will be susceptible to market price swings, but unlike many NFTs, they will have an expiration date that will determine their worth as the check-in date approaches.

 

The “hotels using nfts create lodging reservations” is a new concept for hotels that uses the NFTs to book their rooms. This will allow them to offer more flexible pricing, and better customer service.

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