VentureFuel, a company dedicated to assisting startups, hosted a webinar on June 28 called What's Next Now: Travel, Tourism, and Hospitality. The travel and hospitality industries were in dire need of a change, and VentureFuel is here to highlight the innovators that are a step ahead of their competitors in driving that change.

Two such innovators are Ilana Grossman, co-founder and chief marketing officer of Pinktada, a hospitality marketplace, and Steven Shpilsky, co-founder and CEO of STAY OPEN, a tech-forward hospitality operator that converts nontraditional hospitality space into shared accommodations. Grossman and Shpilsky spoke on the panel Hospitality Innovations, moderated by Vanessa Rosado of VentureFuel.

The travel and hospitality sector has hit a point of transition. To keep up with changing consumer demands and digital platforms, it has become imperative to embrace technology. According to Grossman, hotel booking hasn't evolved in the last 25 years, and consequently limits the flexibility of consumers. At Pinktada, Grossman combined software and hospitality to provide a stress-free hotel booking experience.

“On the traveler’s side we did everything for [them] not to have to develop or build a new user behavior,” Grossman said.

STAY OPEN has whole-heartedly embraced the digital innovation seen in the industry. For example, the company uses NFTs to compete with the Web3 market. Consumers now have an option to book traditionally or use their “stay past NFTs” reward program. A NFT isn't needed to become a member or book a location, however, STAY OPEN has opened the door to any booking experience.

What’s Next?

Digital nomads have been on the rise within the travel and hospitality industry. Consumers have found an easier way and embracing this model has propelled both Pinktada and STAY OPEN forward. NFTs can now be offered to book a room or a timeshare, according to Shpilsky. Furthermore, NFTs can be collected as mementos from a trip, which is how Grossman plans to use them with Pinktada.

This level of personalization is trending in the innovation sector of hospitality. A new model for booking rooms emphasizes inclusivity as well as personalization for a seamless experience for everyone.

Options are all consumers really ask for when planning travel. Without sacrificing previous methods, the hospitality industry has embraced the future of booking. Consumers at any age, from anywhere, can now have the same experience as anyone else.

“Great technology with great utility that could actually onboard the masses,” Shpilsky said.