What Is LockTrip?
LockTrip, found online at Locktrip.com, is a marketplace for hotels and vacation rentals – similar to Airbnb or traditional online hotel booking websites.
The marketplace claims to be the world’s first to charge 0% commissions. With LockTrip, hoteliers and independent property owners can rent their properties globally, collect money, and manage bookings without paying commissions to any middlemen. Instead of a middleman, LockTrip uses blockchain technology.
Obviously, today’s booking platforms are notorious for their high fees. Airbnb, Hotels.com, and similar websites charge enormous fees – often to both the property owner and the guest. The end result is that these companies take anywhere from 20% to 30% of each sale made on their platform.
LockTrip raised $4.5 million in a token sale in November 2017. The alpha version of their platform was launched in February 2018. Today, LockTrip provides access to over 100,000 hotels through its platform.