Expedia Integrates with Binance-backed Travala.com; AVA Price Jumps 22% Nearing All Time High
Expedia, one of the leading travel booking platforms in the world, has partnered with Travala.com to integrate a crypto payment ecosystem. The move will enable users to book over 700,000 hotels listed within Expedia's platform in crypto using the Travala.com gateway. The partnership comes as travel gradually resumes after almost four months of heavy restrictions on both local and international movements.
Despite being competitors, Expedia and Travala will now collaborate as they look to boost their market shares. Alfonso Paredes, the Senior VP of Expedia Group, noted that they recognize the evolution in payment choices hence optimistic about the partnership with Travala [this wasn't always the case]. With this new integration, users can now pay for Expedia's listings with over 30 cryptocurrencies.
As economies try to get back running, fiat currencies held in physical cash will probably reduce in the wake of COVID-19. Currently, digital payments are, in fact, the order of the day, and it is not surprising that stakeholders like Travala are gaining traction. This has also been boosted by a reluctance by the existing multinationals to accept crypto payments. Travala.com CEO, Juan Otero, lauds his business as one that proposes value in this space,
“Travala is one of the very few projects in the crypto space that is bridging the gap to traditional multinationals in a huge way,”
Notably, the Binance backed Travala runs a native token dubbed ‘AVA' in which is the replica of airline miles and loyalty points in the traditional booking platforms. Last month, 13% of its bookings, which hit a high $184,000 in a recovery wave that was initiated using the Travala.com native token. Otero is optimistic that the model will further boost the navigation to a new normal in the travel bookings industry as well,
“Working with Expedia means we can drive traveler loyalty throughout the recovery period,”
This new partnership adds to Travala’s integrated portfolio, which includes Booking.com and TravelByBit. They had collaborated with the former back in November 2019, an event that saw its revenue shoot by 33% in two months. The TravelByBit integration came as recent as May to extend the crypto-based flight booking service to Travala.com clients.
The news of the integration sent Travala's AVA token soaring to $.3674 which is just 5% shy of its all-time high of $.385 which it hit at the end of May 2020 according to Nomics.