Periodic Reporting for period 1 - GET LOCAL (Unified digital booking platform promoting local tourist services)
Reporting period: 2020-01-01 to 2020-04-30
Today few big OTAs dominate the tourism market (ex. Booking, TripAdvisor, etc.). They charge their business partners considerable fees (typically around 15%-25%) and pose a risk for small medium sized enterprises (SMEs) which are active locally. After initially focusing on selling flights and accommodation (hotels, apartments…) – the OTAs are on the way of becoming the main distribution channel for the sale of local services, activities and experiences.
Get Local offers a new approach: local actors are enabled to create their own “OTA” through a joint venture and local software license. Using the Get Local platform local activities and services are easily made bookable through advanced interfaces and a direct distribution channel via local hotels to keep the regional added value in the destination. Matching the data from the tourism organization and hotels they will be able to provide tailor made and AI supported recommendations for tourists based on their preferences in the near future.
Get Local offers a new approach: local actors are enabled to create their own “OTA” through a joint venture and local software license. Using the Get Local platform local activities and services are easily made bookable through advanced interfaces and a direct distribution channel via local hotels to keep the regional added value in the destination. Matching the data from the tourism organization and hotels they will be able to provide tailor made and AI supported recommendations for tourists based on their preferences in the near future.
Evaluation of technical Feasibility: Technical risks have been considered. A technical plan for the EIC Pilot roadmap has been developed. Technical tests have confirmed the ideas and requirements for a worldwide successful application. Freedom to Operate analyzed several patents, as well as the Data Regulation at the worldwide extent.
Commercial feasibility includes the analysis of the different countries. Have been identified 10 new cities, based on diverse data, for the launch of the new GetLocal application. The progressive product launch has been designed, and routes for commercialization have been defined, based on expert analysis.
Financial feasibility and business plan include a sales forecast, EBITDA estimations, and market risk identification. With an initial estimation of 3.2M€ for EIC Pilot, with blended finance, the exploitation BP indicates an ROI of 3 in 5 years.
Commercial feasibility includes the analysis of the different countries. Have been identified 10 new cities, based on diverse data, for the launch of the new GetLocal application. The progressive product launch has been designed, and routes for commercialization have been defined, based on expert analysis.
Financial feasibility and business plan include a sales forecast, EBITDA estimations, and market risk identification. With an initial estimation of 3.2M€ for EIC Pilot, with blended finance, the exploitation BP indicates an ROI of 3 in 5 years.
GetLocal, a B2B platform, enables hotels and tourist service providers to combine forces and offer added value to their guests. GetLocal is a collaborative platform that is primarily used by hotels to enable direct digitalized sales of activities and services at the front desk, and local service providers to make travel a convenient, exclusive and unforgettable experience for their guests. GetLocal stimulates hotels and local and regional service providers to access unreachable, international tourists and create value by exclusive experiences. Also, it connects businesses with local suppliers to support exclusive, fast and efficient services.
In addition, we have received overwhelming positive feedbacks from front office managers in hotels. Overwhelmed with countless new digital systems the hotel employees were “waiting” for an all-in-one booking solution which helps them to sell additional services, activities and experiences.
GetLocal has the potential to have a considerable impact and help the industry increase the revenue per guest through additional sales, which is especially important as we can expect lower occupancy rates in the industry for the foreseeable future due to the impacted of COVID-19.
In addition, we have received overwhelming positive feedbacks from front office managers in hotels. Overwhelmed with countless new digital systems the hotel employees were “waiting” for an all-in-one booking solution which helps them to sell additional services, activities and experiences.
GetLocal has the potential to have a considerable impact and help the industry increase the revenue per guest through additional sales, which is especially important as we can expect lower occupancy rates in the industry for the foreseeable future due to the impacted of COVID-19.