We’re delighted to announce that Dtravel v2 is now live! Beginning today, property managers and hosts can import their listings to Dtravel v2 via Hostaway and start accepting bookings from guests worldwide.
Earlier this year, we announced the updated direction for Dtravel following extensive host research and market analysis. Using this data, we identified a market opportunity for a novel vacation rental booking model that combines the freedom of direct bookings with the simplicity of online travel agencies (OTAs) — and so Dtravel v2 was born.
After months of building toward this vision and refining the product in consultation with a group of passionate property hosts via our Host Beta Program, we’re proud to have launched the first on-chain travel booking ecosystem powered by smart contracts.
So, what differentiates Dtravel v2, what’s in it for property managers and hosts, and how do you get started? All that and more in this article.
What Makes Dtravel v2 Unique
Dtravel v2 uses blockchain technology to remove the intermediary, creating a decentralized ecosystem which is ushering in the web3 travel revolution.
Unlike centralized web2 models used by other OTAs and vacation rental platforms — in which the largest beneficiaries ultimately end up being the platforms themselves rather than their users — Dtravel v2 establishes an ownership economy that empowers hosts and property managers to own, control and benefit more than ever before from their vacation rental businesses.
This is achieved by Dtravel v2 functioning solely as the technology provider that facilitates peer-to-peer transactions between hosts and guests. To do this, a blockchainsmart contract on the BNB Smart Chain is deployed for each listing, which automates booking payments made by guests to hosts provided the guest doesn’t cancel within the set cancellation period. Learn more about how smart contracts are used in Dtravel v2.
Dtravel therefore doesn’t control booking payments, disputes or policies, differentiating it from other vacation rental platforms that maintain control over their users' booking experience.
Benefits of Dtravel v2 for Hosts
With Dtravel v2, hosts operate within a direct booking ecosystem without the challenges associated with creating a direct booking website. This provides several advantages to hosts in comparison to vacation rental platforms, including:
- Control over payments, cancellation policies and terms
- Lower fees
- Greater control
- Unrestricted guest communications
- More customizability
Compared with direct booking sites, Dtravel v2 offers hosts an avenue with a much lower barrier to entry through:
- Ready-to-use booking tools powered by blockchain technology
- No platform development or maintenance costs
- Time-saving listing deployments and updates via property management systems
Dtravel v2 listings can easily be published via Hostaway, enabling hosts to manage listings across Dtravel and popular web2 booking platforms in one place. In the near future, Dtravel will add and integrate with various property management systems, accelerating adoption and minimizing the barrier to entry for those hosts who do not currently use Hostaway.
Dtravel v2 Fee Structure
One of the most notable features of Dtravel v2 is its low booking fee structure. Since Dtravel v2 is decentralized, there is low overhead. To ensure the network can be maintained and improved, a 5% host-only fee is allocated from each transaction to the Community Treasury.
The funds in the Community Treasury are entirely reinvested into building and expanding the ecosystem, with hosts — as well as other community members — having a say on how these funds are used.
How does this compare to fees charged by competitors? While fee structures are constantly being revised and experimented with by platforms, they generally place greater weight on either charging hosts (host-centric) or charging guests (guest-centric):
- Dtravel = (5% host / 0% guest) = 5% total
- Platforms with host-centric fees = (15% host / 0% guest) = 15% total
- Platforms with guest-centric fees = (3% host / 14% guest) = 17% total
During the introductory period, Dtravel hosts will receive the cost of the 5% fee back in the TRVL token, effectively resulting in 0% fees.
This incentive is in place to help onboard hosts to Dtravel as hosts are responsible for driving their own traffic to their listings by sharing their URL with potential guests in the same way as traditional direct booking websites.
Our next top development priority — which centers on improving the guest experience — addresses this issue and will break even more new ground. By developing a guest experience that enables Dtravel v2 listings to be efficiently searched for and compared, this direct-like ecosystem will combine the best of direct booking sites and OTAs. Once this upgrade is launched, the TRVL giveback will be revised.
On the guest side, guests who transact in cryptocurrency pay no fees besides BNB Smart Chain gas fees (which are less than one cent), while guests who transact in fiat will pay a credit card processing fee of approximately 3% that’s charged by Stripe.
Dtravel v2 Features
In addition to lower fees, some of the other key features of Dtravel v2 include:
- Booking payment options in crypto and fiat (via Stripe)
- Peer-to-peer bookings secured by blockchain technology
- Fast payouts automated by smart contracts
- Easy-to-import listings via Hostaway
- Choice over booking terms and policies
- Non-custodial wallet connection with MetaMask
As the Dtravel ecosystem and community grow, existing features will be expanded and more features will continue to be added.
Join Dtravel v2
To join Dtravel v2 as a host, all you need is a Hostaway account and MetaMask wallet.
To get started with Hostaway, register for a Hostaway demo today. Be sure to mention Dtravel to get added to the priority list.
For help with getting started, check out the articles on the Dtravel Knowledge Base.
If you have any questions, please get in touch with us on our socials below. We can’t wait to see your amazing properties in the web3 world of travel!