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Report

Teaser, summary, work performed and final results

Periodic Reporting for period 1 - GASTEJO (Decentralized Travel Apartment Distribution Platform)

Teaser

Summary

The Gastejo project aims to disrupt the oligopolistic micro-hotel/vacation rental market by creating a global, decentralized apartment rental distribution platform.

The project is developing a unique, disruptive, decentralized, blockchain-based, stakeholder community-owned platform for access to global inventory for travel apartment rentals. Gastejo will eliminate the existing inefficiencies, cut out redundant intermediaries and enable European and other OTAs of any size to compete with the integrated OTAs such as Airbnb. Guests will be able to book the same apartment through any OTA connected to Gastejo, which will eliminate the risk of double-booking and increase the bargaining power of the apartment owners.

The main goal of this study was to perform analysis of business feasibility of Gastejo while gaining insights towards the modification of the initially envisaged business strategy; and to prepare a business plan for the project, with a view of both applying for the SME Instrument Phase 2 funding and seeking private investment. Specifically, the feasibility study aims to achieve the following outcomes:

1. Market penetration and disruption strategy: identify market segments for initial entry and disruption; identify major opportunities; plan acquisition of initial inventory; identify opportunities for partnerships and pilot deployments with European OTAs; assess and plan mitigation of commercialization risks.
2. Business model analysis: perform deep operational and profitability analysis of the proposed blockchain-based business model; assess governance model and ensure its benefits to stakeholders; verify viability of the insurance model; assess and plan mitigation of currency exchange and insurance risks.
3. Regulatory framework assessment and IPR protection planning: assess Freedom to Operate; plan strategy of IPR protection; study and plan mitigation of regulatory constraints and risks, including ICO risks.
4. Technological assessment: assess and translate user requirements into technical specifications; identify gaps and constraints; plan technological solutions for mitigation of business and financial risks.
5. Profitability assessment â€“ perform revenue and operational expenditure planning and assess potential profitability. Based on all of the above, we have made a decision to continue and develop the Gastejo service and venture.
6. Preparation of Business plan and work plan for SME Instrument Phase 2

Work performed

The Gastejo SMEI 1 project performed a business feasibility study that has confirmed the viability of the Gastejo venture, and that resulted in the development of a viable business strategy as well as detailed marketing, operational and financial plans. We therefore intend to continue the project and apply for SME Instrument Phase 2 funding, according to the business plan created in the Phase 1 feasibility study.

As a result of the work undertaken in the study, we have modified our strategic focus and will prioritize and concentrate on building up the initial travel apartment inventory prior to a full scale commercial market entry. For this purpose, we have developed the relationships with the leading European and Indian OTAs , with a view of expanding these partnerships and converting them into business relationships based on pilots to be performed in the follow-on SME Instrument Phase 2 project.

Final results

The project is developing a unique, disruptive, decentralized, blockchain-based, stakeholder community-owned platform for access to global inventory for travel apartment rentals. The main impact of Gastejo will be the elimination of the existing inefficiencies, cutting out redundant intermediaries and enable European and other OTAs of any size to compete with the integrated OTAs. Guests will be able to book the same apartment through any OTA connected to Gastejo, which will eliminate the risk of double-booking and increase the bargaining power of the apartment owners.