Oveedia

Oveedia – Internet-Based Travel Website and Booking Engine

Oveedia Brouchure ( Click here to download the Oveedia Brouchure )

An Internet booking engine (IBE) is an application which assists the travel and tourism industry support reservations through the Internet. It helps consumers in booking flights, hotels, holiday packages, insurance and other services online. This is a much needed application for the aviation industry, as it has become one of the fastest growing sales channels in the world.

In the early days of American aviation, passengers were very few and the airlines did not fly regularly, as they do presently. Ticket fares were regulated by the Civil Aeronautics Board. All routes, fares and flight schedules were published in the Official Airline Guide and travel agents requested reservations by phone or telefax. As the number of passengers flying annually began to grow, this manual system could not suffice and the airlines looked at upgrading their methods of ticketing.

In 1946, American Airlines was the very first to establish and launch an automated booking system. This was called the Electromechanical Reservisor, which comprised a temporary storage of magnetic drums. The airline’s operators had to do the actual flight searches, as travel agents could not directly access the system.

1953 marked the birth of complex airline reservation systems, when American Airlines launched the SABRE (Semi-Automatic Business Research Environment) reservation system. Next came DATAS by Delta, Apollo by United Airlines and PARS by Trans World Airlines. Eventually, these were all replaced by complex Computer reservation systems (CRSs). Originally operated by airlines, CRSs were later extended for use by travel agents, who could access the systems and make reservations themselves.

In the early 1980’s, CRSs were upgraded with more features and the new systems were able to book and sell tickets for multiple Airlines, where earlier CRSs could handle only one reservation at a time. These newly developed systems were called Global Distribution Systems (GDS). Eventually, airlines divested their direct holdings in GDS companies, with the notable exception of the Asian carriers, who remain owners of the following GDSs: Abacus, Topas, Axess, Infini and Travelsky. In addition, Amadeus has Air France/ KLM, Lufthansa and Iberia as minority shareholders.

Through a GDS, travel agents could easily retrieve the information needed about numerous Airlines, all in one location. They had greater information-searching and booking capabilities.

Yet, passengers themselves still needed a travel agent’s assistance when booking an airline. If any passenger wanted to book a seat, or go through a schedule, they would have to contact the travel agents. So, the airlines needed a web-based booking system, which would allow passengers to directly retrieve information about the air schedules, complete bookings, etc. That is when the Internet Booking Engines (IBEs) were introduced. IBEs are used by nearly every airline at present, to cut extra expenses and allow for instant booking and payment.

Oveedia

Product: Oveedia is a digital media platform which allows regional hotels, resorts and vacation properties to manage their listing internally and list their offerings at online travel agencies.

Business Model: Oveedia provides property owners with a client management system that functions both as an internal management system and as an online fulfillment site for travel
agencies all for one low price.

Revenues are derived from booking commissions, advertising (Banners, Listing Sponsor Ads) and Digital Turn Key Solutions.

Opportunity/Market
$157 billion travel market .
$6 billion tourism market (Central America, without Mexico).

Unique Value Proposition
Internal and external facing online booking and management system.
Region Specific OTA (Central AmericaCaribbean).

Traction

  • FROL (Friendly Reservation Online) booking system (now Oveedia), successfully tested
  • 118 hotels for a total of 6,500 reservations in the domestic market.
  • Agreements with resort and hotel properties in Costa Rica.
  • Strategic Alliance with Sabre travel network securing listed hotels.

Next Steps

  • Major upgrades to existing platform. (4 months)
  • Establish partnership with 400 hotels and resorts. (12 months)merican and The Caribbean Hubs

Once the platform is up and running, we will start a marketing campaign to invite hoteliers in Central America and the Caribbean (Including Cuba), to submit their properties.

  • According to Tripadvisor there are 2850 lodging places and 2930 vacation rentals in Costa Rica.
  • Meanwhile Tripadvisor only shows 1100 lodging places and 930 vacation rentals in Panama; 130 lodging places and 5 vacation rentals in Nicaragua; 590 lodging places and 280 vacation rentals in Honduras; 310 lodging places and 60 vacation rentals in El Salvador; 910 lodging places and 170 vacation rentals in Guatemala; 570 lodging places and 400 vacation rentals in Belize; 2020 lodging places and 25 vacation rentals in Cuba; and 970 lodging places and 1930 vacation rentals in theDominican Republic.
  • For decades, one of the most important economic activities of Costa Rica has been tourism. Other countries in the area have had struggles with technology. This is where Oveedia’s IBE software, installed on the different websites/hubs for Central America and the Caribbean has found a niche.

 

Costa Rica Tripadvisor

Costa Rica Tripadvisor

Pros and Cons

Like any other project, Oveedia by PURE has its pros and cons

PROS

  • Unique interactive portal with online booking capabilities
  • A place for hoteliers to submit their properties (photos, amenities, in the area) making Oveedia a 24/7 point of sale.
  • Will provide travelers and patrons the opportunity to intimately view the property prior to their potential reservations
  • The Management Team speaks Spanish and knows the area very well.
  • In 2007, a development team in Costa Rica became aware that the local industry had no access to a processing and reservation tool. The conclusion of the industry review, confirmed that the majority of Costa Rica’s hotels and service providers in the tourism industry were not using their website to the fullest of its potential.
  • We will generate three source of revenue: 1) Commissions per booking 2) Website Banners 3) Sponsored Ads

CONS

  • Unique concept in countries where technology is not as developed as other areas.
  • New platforms generally take time to garner a larger numbers of visitors
  • Remains a unique niche that is very exciting to many; not all