Hatten Land, a member of Malaysian conglomerate Hatten Group, announced on Tuesday (22 May) that it has formed an 85:15 partnership with Singapore-based proptech startup FundPlaces to develop the first hospitality blockchain platform for hotels and malls in Southeast Asia.
Dubbed as StayCay, the platform will allow users to obtain digital tokens that can be traded for discounted hotel packages at hospitality properties run by Hatten Land and Hatten Group.
It will also serve as a blockchain-based rewards programme that lets hotel guests and shoppers accumulate StayCay Points, which users can redeem for rebates at hotels, shops, F&B outlets, wellness outlets located in Hatten Land and Hatten Group’s properties.
Expected to start operating by December, StayCay will initially cater to the companies’ portfolio of over 3,400 hotel rooms and 5,000 retail outlets in Melaka, Malaysia’s second most visited state last year that attracted a total of about 16.7 million tourists. More importantly, it is anticipated to expand to other Malaysian states and across the ASEAN region.
Hatten Land projects that will benefit from the blockchain platform include Satori, Hatten Place, Vedro by the River and Harbour City as well as Hatten City Phases 1 and 2 that collectively contain more than 2,500 hotel rooms and 4,500 retail shops.
It will also cater to Hatten Group developments like the Estadia Hotel, Hatten Hotel, DoubleTree by Hilton Melaka and the Dataran Pahlawan Megamall.
“StayCay is a ground-breaking platform which we believe will disrupt traditional hotel booking methods while enhancing consumer experience through seamless integration of hospitality and retail services within a blockchain-based ecosystem,” said Hatten Land’s Executive Chairman and Managing Director Dato’ Colin Tan.
“This initiative represents a strategic shift by Hatten Land to incorporate leading technologies and open new frontiers in hospitality, retail and e-commerce. We believe this will not only boost tourism in Melaka but also in the region.”
Earlier this month, Hatten Land said that it has created a new mall management division to generate recurring revenue and complement its core business of property development.
In addition to its two existing malls in Melaka – Vedro by the River and Elements Mall, Hatten Land is currently building three other shopping centres in the state capital.
Image sourced from Straits Times
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