Event: 2020 Phocuswright Conference
HQ: Jericho, NY U.S.
Principal(s): Nelly O Gedeon, CEO; Brian Dass, Chief Strategist & Technology Officer
Funding: Bootstrapped, self-funded
Product Description: Hotel-branded stay and transportation CFC Engine(TM( integrated with the hotel website. The platform aggregates and distributes local and international carbon offset projects to all participating hotels globally. Hotel guests can calculate their stay/trip carbon emissions, then offset it by purchasing a selected project which gives an instant certificate memorializing their participation in protecting the planet.
Business Model: Carbon offset projects are aggregated globally with a profit margin. Hotel guests offset their bookings from the hotel-branded CFC Engine(TM) by purchasing offset projects. Net revenues generated are split between Wayaj and the hotel. Post pandemic, a monthly subscription fee will be charged, but can be reduced by revenues from COP sales.
Competitors: Carbon footprint calculators: GreenKey, myclimate, Hotelfootprints
Competitive Edge: Facilitating sustainability in tourism through its certification program, sustainability marketing and support services. Our patent-pending hotel-branded Carbon Footprint calculating engine integrates to the property website allowing travelers to offset the carbon emissions produced from their bookings.
Market Opportunity: Hotel reservations produce carbon emissions when guests are on-property and during their round-trip using transportation to and from the hotel. Sustainability has gotten a boost due to COVID-19 and hotels globally are looking at ways to engage with travelers to get them back while taking a stance on protecting the planet. Wayaj's CFC Engine(TM) provides tangibility to jumpstart or append to the hotel's sustainability narrative. It generates revenue for the local destination when a carbon offset project is purchased, and it generates new revenues for hotels.
Early Customers: Muralto Princesa Hotel Madrid, Mondi Hotel, Loola Hotel