The NFT is the reason this new luxury hotel in Venice is so popular Frenzy

The five-star hotel Ca’ di Dio will officially open in Venice on August 27. But through Monday, August 16, the parent company VRetreats is auctioning off a night’s stay where a guest can enjoy the entire property by themselves. Note that consumers will need to bid on non-fungible tokens, also known as NFT.

A NFT token is one that cannot be duplicated. This makes an NFT a digital token. This new asset type was so popular that it even got its own song on Saturday Night Live. Christie’s auction house helped sell digital art worth $93.2 million in the first half. They used nonfungible tokens to verify authenticity.

Angelo La Riccia (commercial director at VReats/VOIhotels) stated that NFT is a benefit from a distribution standpoint, and not only from a marketing perspective.

The hotel’s unique move is to hold an auction where anyone can sign up for the platform and bid on NFT. On August 19, the person with the most bids will be granted a stay for one night in a hotel room. This includes dinner on the roof and two to three other guests.

La Riccia stated that she wanted to microtarget travelers who would be interested NFTs. Our small company is probably new to you if you are interested in cryptocurrency. The winner of the auction is likely to be new to the brand, and can help spread the word throughout their network if they have a great time.

Ca’ Dio can be described as both old and new. This is the newest hotel in Venice. However, it also reconstructs a 1272-built palazzo. The hotel has 57 suites and nine guest rooms. It is located around three courtyards. In the lobby, you will find chandeliers made by Murano’s LP Glass Factory.

Lobby of the Ca’ di Dio Venice, a luxury hotel in Italy that’s part of the VRetreats brand and which is auctioning off a one night stay. Source: Alpitour

Ca’ Dio, short for “house God” is the fourth VReats hotel that has opened. It is an offshoot VOIhotels and is part of Alpitour, Italy’s biggest tour operator.

NFT is based on blockchain technology. While most people buy NFT with cryptocurrency, it’s possible to bid for this hotel’s NFT by using standard payment methods such as credit cards.

Pandemic Influences Hotel Marketing

La Riccia stated that the pandemic will change how we receive customers, from transient business to leisure and group to group. This is just one strategy we are using as a brand in order to improve our ability to market quickly and effectively to respond to customer demand signals.

The Venice property can be used by leisure travellers, but VReats and VOIhotels properties in other cities have a large business mix.

The VOIhotel executive team is not the only ones who expect a shift in this mix. Bank of America research analysts published Wednesday’s report predicting that both business and international travel won’t fully recover from this pandemic over the next few years.

Bank of America projects that business travel to Europe in 2024 will be 25 percent lower than in 2019. This is due to the need for global climate change mitigation and the improvement in effectiveness of remote workforces such as videoconferencing.

If paid search engine marketing stagnates while social media marketing rises in importance, reaching luxury and leisure audiences will be a challenge.

La Riccia stated that she has heard of colleagues from the hospitality sector who said they are putting in some euros in order to see how it works. As we emerge from the crisis, hoteliers must think imaginatively.

Photo credit: Ca’ Dio Venice is a luxurious hotel located in Italy. It’s owned by Alpitour. Alpitour

Publited at Sun, 15 August 2021 13:53.52 +0000

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