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Friday, 18 May 2018

Singapore Share Market Analysis / Blog/ News Last 15 days

Financial News and Advice in Singapore

Game the system and outsmart travel comparison sites!

Travel comparison sites are abundant these days, and it’s hard to tell if you’re getting the best deal. To make it more confusing, two travel comparison sites can give different prices for the same hotel, air ticket, or car rental. Here’s how to effectively navigate all these sites, and nab the best deals:

1. Use more than one travel comparison site when searching

Don’t just stick to one travel comparison site, when looking for low prices. No single site searches the entire market – a site can only list prices for airlines, hotels, or car rental firms that it partners with.

For example, sites like Priceline only compare between larger commercial airlines, but not budget flights. As such, Priceline might find you the cheapest flight to the United States (budget airlines don’t fly such long distances), but come up with more expensive options for, say, a short flight to Thailand.

Also, some travel sites are tasked with promoting certain hotels or airlines. They may occasionally have freebies, such as vouchers, which make their deals cheaper compared to other sites.

Try to search at least three to four travel comparison sites before you buy. Typical sites to compare between include Agoda, Expedia, Momondo, Priceline, and Kayak.

2. If you’re a frequent traveller, look for a rewards programme

Some comparison sites, such as Expedia, give reward points. Others, such as Priceline, don’t have any such schemes. Which is better? It depends on how frequently you travel.

If you don’t travel often (e.g. twice a year or even less), then don’t worry about rewards schemes. Just compare to find the best possible price.

If you do travel often however, a rewards programme can save you more money in the long run. For example, Expedia gives you points that can be used for discount vouchers at hotels. These may also stack with credit card promotions, so don’t forget to check SingSaverfor cards that give you extra reward points when booking through Expedia.

So remember, look for rewards if you travel frequently, but ignore them and go for the best current prices if you don’t.

3. Consider blind or opaque deals

Some comparison sites give you “blind” options, at a significant discount. For example, Priceline has an Express Deal option for hotels. You can see the cheapest prices, but you only find out the name of the hotel after you book it.

These types of deals are also commonly called opaque deals / fares.

If you’re not fussy about where you stay or how you fly, and saving money is the priority, then do consider these.

4. On aggregator sites, check back later if the prices don’t match

Some comparison sites, such as Skyscanner, are aggregator sites – they redirect you to other websites, where they managed to find a given price. However, the two sometimes fail to match.

For example, Skyscanner may give you a link to a site where flight tickets are S$908. When you go to the actual site however, you find that the price is actually S$1025. (Sometimes, comparison sites experience a delay in their real-time tracking.)

Don’t give up just yet. Save the site that you were directed to, and visit it again in a few hours or the next day. Sometimes, the low price you saw will re-appear.

5. Use notifications for price updates

If your trip is some time away (more than three months from now), don’t feel compelled to buy right away. Some comparison sites let you set up notification systems, so you can be alerted when a flight or hotel price changes.

This is especially useful if you aren’t sure where you want to go. You can track ticket prices for multiple destinations, and then make your decision on whether prices rise or fall closer to the date.

6. Don’t forget to compare package deals

Many sites have package deals, that combine both the hotel and flight (or hotel, flight, and car rental). A common mistake is to compare only the flight ticket prices, or only hotel prices, separately.

Don’t forget to compare bundled packages, because the overall prices can be cheaper. This is especially true for sites that give reward points, as you end up getting a lot more in the way of voucher or promotional discounts.

It’s also more convenient, as you need only contact one website if something goes wrong with your flight or hotel booking.

For example, if you book a bundle through a website, and your flight is significantly delayed, the same website can be contacted to change your hotel timings (if they haven’t already done so automatically). If you booked the hotel through a different site, however, then it falls on you to handle the situation.... Financial News and Advice in Singapore

Sunday, 22 April 2018

Wegogo Eyes $88 Million In ICO To Build First Travel Blockchain For Aspirational Travel In Asia

Wegogo has embarked on an ambitious project as it seeks to become the world’s first travel blockchain, for aspirational travel in Asia. To achieve this, the company intends to raise $88 million through an Initial Coin Offering ICO.

What is Wegogo?

Wegogo is an online travel startup that targets Chinese users via WeChat. The startup is in the process of making its services available to more users, mostly through online booking platforms in addition to WeChat and IOS. Plans are also underway to roll out in Android apps

The venture is backed’ by a group of Singapore investor’s, led by Farsight Capital’s managing director, Wong Toon King.

The Social travel app strives to make it easy for Chinese tourists to discover and book travel experiences with Aspirational Service Providers. The app essentially acts as a platform for matching travel suppliers with new Chinese travelers.

The platform also ensures operators get noticed amongst app users in additional to making it easy for them to showcase their most authentic experiences to potential customers.

Wegogo makes money by receiving a fee on processing transactions upon connecting travelers to their preferred Aspirational Service Providers, paid via Alipay or WeChat Pay.

Wegogo Blockchain Aspiration

Asia’s travel boom presents unique opportunities that Wegogo plans to take advantage of. Thanks to higher disposable incomes, increased tourism offerings and low-cost carriers, Southeast Asia has become the world fastest growing region for outbound travel.

Wegogo believes it has found a way to curve for itself a big piece of the $38 billion market opportunity in the fast-growing aspirational travel space. By leveraging blockchain technology, the social travel app hopes to play a pivotal role in the evolution of Asia tourism industry and in the process generate significant returns.

Pursuit of blockchain technology is part of the company’s ambitions to bring smaller travel providers closer to merchants who have yet to come online and start transacting with global travelers.

Wegogo big plan is to use blockchain technology to execute a peer-to-peer ‘PathFinder model’ as well as operate a reward system for all people who take part in the ecosystem while using its cryptocurrency. The reward system is centered on PathFinders who love traveling, discovering, sharing and guiding others to share the travel experiences.

Whenever PathFinders upload or share their unique activities or destinations on the platform, they will be entitled to a reward paid with WeGold. Should other users be motivated by the reviews and make bookings through Wegogo, the PathFinders would be rewarded further.

Aspirational Service Providers that strengthen partnerships within Wegogo ecosystem and promote the platform on their respective social media channels will also be incentivized by the reward system. Travelers who make purchases through the Wegogo app will also be incentivized through earning incentive points for their purchases.

All transactions will be captured on the blockchain to allow for a transparent ecosystem whereby people are rewarded based on what they bring to the table. The fact that WeGold tokens run on an Ethereum-based network means holders of the tokens will be able to cash them out whenever they wish. Holders will also be allowed to hold on to the coins as a form of investment.

Wegogo ICO Offering

Given that the company is still in the early stages of growth, the management has resorted to raise funds through ICO to advance development projects. The ICO route provides the most transparent and efficient way of raising funds, at such a pivotal time.

To be able to build a robust travel ecosystem within blockchain, Wegogo intends to raise $88 million in the offering. The online travel startup is to issue 3.4 billion WeGold tokens at a value of 0.00006866 ETH each or $0.037.

ICO Proceeds Usage

Technology Development 30%

Wegogo is to use 30% of the total ICO proceeds to develop the blockchain technology platform. Top of the agenda is to come up with a platform that is robust and scalable in all aspects, able to support more users while providing a vibrant experience on the aspirational travel platform.

Operating Expenses

Given that the company is still in the early phases of growth more manpower in the form of developers, marketers, designers and other professionals are needed to support the growth strategy. That said, Wegogo is to use 25% of the ICO offering proceeds to cater for any operational expenditures.

Reserve Funds

Wegogo is to set aside 20% of the ICO proceeds to cater for any additional expenditure that might come into being, as a result of economic and demographic changes.

Pathfinders Loyalty

Following the ICO, Wegogo is to recruit up to 1,000 PathFinders in China, tasked with the responsibility of discovering places that travelers can visit as well as tell stories in the effort of marketing the locations. 15% of the ICO offerings is to go towards building a robust Pathfinder network for marketing Wegogo

Ecosystem Expansion

Wegogo intends to use 10% of the ICO proceeds for business development strategies, mostly focusing on platform evangelization activities, marketing, and public relations activities.

ICO Timeline

The token sale will open to the public on May 15^th, 2018 at 02:00 UTC, to the public. It will run until May 30th, 2018 at 09:59 UTC. No limit has been set on the amount of tokens that one can purchase at the offering.

Wegogo plans to Beta release a PathFinder Management module in the third quarter that will enable PathFinders to upload newly discovered travel experiences on the platform. Focus in the fourth quarter will be on the launch of a marketing campaign, to target key Asian cities.... Wegogo Eyes $88 Million In ICO To Build First Travel Blockchain For Aspirational Travel In Asia

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