“RNTs” – The New NFT Hotel Booking Concept

"RNTs" - The New NFT Hotel Booking Concept

“RNTs” – The New NFT Hotel Booking Concept

To avoid losing money due to last-minute cancellations, hotels plan to convert canceled reservations into NFTs. Known as RNTs (room-night tokens), the new concept 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 company’s cash flow by requesting a refund or re-booking.

Casa de Campo Resort & Villas in the Dominican Republic, one of the hotels planning to adopt the new strategy, has teamed with Pinktada, a new booking system platform that allows users to purchase RNTs for a certain room, time period, or group of nights.

According to the platform, it is a replacement for the outdated model of securing reservations, as, upon the purchase of an RNT, the hotel’s revenue is secured and guaranteed, and if a customer wishes to cancel or re-book their stay, they can do so by transferring, selling, or exchanging their RNT on Pinktada up to two days prior to check-in.

Pinktada will also launch a marketplace that enables users to purchase RNTs in bulk, which they can then resell on the platform for the price of a single room night.

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

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