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KUALA LUMPUR (May 22): Hatten Land has inked a strategic partnership with Singapore proptech startup FundPlaces to launch Southeast Asia’s first hospitality blockchain platform, reported The Edge Singapore today.
Called StayCay, the dedicated blockchain platform can integrate more than 3,400 hotel rooms and 5,000 retail outlets in Melaka as a springboard for expansion into the region.
According to The Edge Singapore StayCay “will leverage on Hatten Land’s position as a developer in Melaka to offer digital utility tokens and rebates to tourists and shoppers via a private distributed ledger developed by FundPlaces”.
With StayCay, guests can exchange hotel tokens for discounted hotel packages in properties managed by Hatten Land and Hatten Group. Hatten Land is the property development arm of Hatten Group.
Hatten Land and FundPlaces will form an 85:15 joint venture to operate StayCay.
Hatten Land’s property developments include the Hatten City Phases 1 & 2, Harbour City, Satori, Vedro by the River and Hatten Place Hotel. Hatten Group manages hotels and malls such as the Dataran Pahlawan Megamall, Hatten Hotel, Estadia Hotel as well as DoubleTree by Hilton Melaka.
StayCay is expected to be launched in December.
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