21Jan 2021 by admin
We start 2021 in a strong position but exponential growth potential lies ahead

We start 2021 in a strong position but exponential growth potential lies ahead

Company, Dubai, Platform, Progress, Tourism, Trat, Tratok, UAE, United Arab Emirates, Website
As we come to the end of the first month of 2021, we look forward to a year with a far more constructive underlying foundation for the travel and tourism sector than 2020. On one hand, the emergence of a vaccine has boosted confidence in the sector and this renewed confidence will rise with more widespread acceptance and adoption of said vaccine. At the same time, the urge to travel will likely be stronger in individuals who have been unable to do so for almost a year now. Finally, and perhaps most importantly for Tratok, the economic devastation caused by the pandemic has forced service providers to change the way they do business and embrace new methods, while at the same time encouraging consumers to think about savings, benefits and…
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10Dec 2020 by admin
As we head towards 2021, Tratok hosts an iconic launch party for a world changing product

As we head towards 2021, Tratok hosts an iconic launch party for a world changing product

Company, Dubai, Platform, Progress, Tourism, Trat, Tratok, Website
If there is a single appropriate word to describe Tratok’s second generation ecosystem launch event, it would have to be “Iconic”. A groundbreaking event, featured by the Dubai Media Office, the Polo Challenge Cup was an event of beauty and great significance. With two hundred visitors in attendance, it showed the strong support and good will behind Tratok. With a turnout including Ministers, Excellencies and leaders from the hospitality and travel industry, the message was very clear. The industry believes in Tratok and is throwing their support behind the platform. At the same time, there is another equally important message here. The fact that such a large group of people can get together, be safe and have fun delivers an even more important sign. It shows light at the end…
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06Sep 2020 by admin
Finishing 2020 on a strong note

Finishing 2020 on a strong note

Company, Dubai, Platform, Progress, Tourism, Trat, Tratok, Website
Following approval from the General Counsel of Tratok Ltd and Tratok Portal LLC, management is happy to announce that trading can now resume. We are delighted to report that we are fully compliant with the newest regulations that are being enforced. As such, the team have contacted the exchanges to request they re-enable trading at their earliest convenience. Furthermore, we are also happy to announce the following schedule with regards to Tratok’s travel ecosystem: September 2020: Senior Managament and Advisors will be hosting fortnightly webinars at which they will discuss new developments, enhacements and progress. These will be public webinars to which the community is invited to attend and ask questions.October 2020: Further pilot tests will be conducted for the flights, accommodation, car rental and experience modules of the ecosystem. The…
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14Jun 2020 by admin
What form will summer holidays take in 2020?

What form will summer holidays take in 2020?

Company, Dubai, Progress, Tourism, Tratok, Website
As summer approaches, everyone is keen to see what form these holidays, the longest for the year in many countries, will take. Uncertainty about the re-opening of borders, the availability of international flights, has triggered large scale campaigns, both at country government levels, as well as at hotel levels, for staycations – visiting and discovering one’s own country. For example, the French government, a country which traditionally relies on heavily on large international tourist numbers, has mobilized the government media to promote a different region or village of France after the daily 13:00 news, one of the peak television viewership. Sensitizing the population to the diversity and the beauty of their own country, the initiative, beyond offering a holiday solution, aims at driving business to regions to be able to…
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22May 2020 by admin
A summary of STR’s European Hotel Analysis

A summary of STR’s European Hotel Analysis

Company, Dubai, Progress, Tourism, Tratok, Website
As a result of the corona pandemic, 100’s of thousands of hotel properties find themselves in financial distress. But as hotels properties are hard to repurpose, they have no choice but to re-open and redefine the dialogue between the hotel owner and operator to find a way forward together. Hotel owners are the hardest hit in this crisis and need to assess the possibilities of restructuring the debt of their properties.  Key to this will be benchmarking:    How is the hotel performing compared to your comp set? What are the prospects of recovery? What is the quality of the Team running the property? Do we believe in the Team or do we need to replace them? We believe that demand will return in June, initially domestic travel but with further…
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14May 2020 by admin
The hotel world is being rocked by coronavirus shutdowns

The hotel world is being rocked by coronavirus shutdowns

Company, Dubai, Progress, Tourism, Tratok, Website
Seven out of ten hotel rooms in the United States are empty, and the industry has lost nearly 4 million jobs and more than $21 billion in revenue. Where does the hospitality sector go from here? The road to recovery is going to be a long one according to Hilton CEO Christopher Nassetta. “A full recovery will take time and it could take several years to return to the hotel demand levels we experienced in 2019,” he said in an earnings call last week. Hilton posted revenues of $1.9 billion in the first quarter, down 13% from last year, and net income fell to $18 million from $158 million. “COVID-19 has created challenges that our industry has never encountered before,” Nassetta added. Other major hotel companies including Marriott, have noted the…
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13May 2020 by admin
Our Success: Belief, Trust & Simplicity

Our Success: Belief, Trust & Simplicity

Company, Dubai, Progress, Tourism, Tratok, Website
In our previous article, we showcased Warren Buffet’s decision to sell all his airline stocks in the face of the pandemic. To many, the decision of this investment guru to give up on the travel and tourism industry, came as a sign of defeat. It may have scared you. At Tratok, we prefer to look at the word crisis in its original definition, from the Greek “turning point in a disease”. We believe in the future of travel, but we know the present diseased model needs to be disrupted, revolutionized for it to succeed. As one of the fastest-growing industries, travel and tourism had already provided US$ 2.6 trillion to Global GDP in 2016 and indirect contributions amounting to an excess of US$ 7.6 trillion – that is 292 million…
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25Apr 2020 by admin
Decentralized Exchanges Disabled

Decentralized Exchanges Disabled

Company, Dubai, Progress, Tourism, Tratok, Website
Following the advice of our Legal General Counsel in reference to AML-CFT Law16.1(b); AML-CFT Decision24.2-4, 27.7, 28.1-2, 29.4, 37.1-3 as outlined by the central bank of the UAE, Tratok Ltd is locking decentralized exchanges out of the Tratok ecosystem. Having contributed less than 0.04% of activity on average over the last 12 months, we do not expect this to have much of an impact. This was a decision taken by Group Risk following a careful review of the law's application as well as previous case studies where the law has been neglected. As a licensed entity, Tratok has a responsibility of "going concern" as a business and will continue to adhere to all applicable laws and regulations
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16Apr 2020 by admin
A time of renewal

A time of renewal

Company, Dubai, Progress, Tourism, Tratok, Website
In a historic address to the nation on Monday, the President of France Emmanuel Macron highlighted the importance of knowing how to renew oneself in the face of the changing realities of the world. In his explanation to the French people and the international community in general, he addressed the mistakes we have made, and the inefficiencies we had tolerated and how we needed to use this time wisely to correct these, to be able to evolve into a cleaner and better world.  Nowhere is this reality greater than in the travel and tourism industry, the greatest victim of the international travel bans and closure of airspace. In business, when the market is great, it's a good time to engage in commerce and business generation. When the market is terrible…
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