CYTT Changyou Alliance counteract with a stellar first move amidst Covid-19 situation
With the sudden invasion of the coronavirus that took over the world, nearly the entire tourism and travel industry halted. This pandemic is a shock, a test yet also an opportunity to expedite industry adjustments. As a Chinese idiom goes, the duck knows first when the water becomes warm in spring, drawing the parallel that the experts in the field are the first to know. The tourism and travel industry have indeed felt the impact of this turbulent period. During this pandemic, in comparison with the other travel agencies who have stopped operations, OMT Group of Companies, the group from Singapore that broke into the China market, has been facing this crisis head-on. They have joined efforts with numerous parties of the travel industry chain, made use of the internet for online marketing and advanced into the big data of blockchain technology. They have also pushed forth the digital asset “CYTT Tokens”, making them an invaluable member of the travel market. Through this, the number of members is skyrocketing, bring hope and confidence to the currently stagnant travel industry.
“CYTT Tokens” provides tourists with a low priced yet high-quality experiences
In mid-May, an estimate of 10 members had the opportunity to experience the “CYTT Token” to explore Dalian Tianmenshan National Forest Park. This two days one-night suburban journey commenced the beginning of the new travelling model “CYTT Changyou Alliance, explore the world”. This provided blockchain with an official testimonial and application in the traditional travel scene and provided the token economy with development assistance.
What exactly is the “CYTT Token”? Why has this token become the highlight of the travel industry of many countries? Accumulated points can directly be used to exchange for travel packages, is that true? What qualities of the travel industry would change with the application of blockchain technology?
With the many questions in mind, journalists conducted an interview with Mr James Yeow, Chairperson of the OMT Group of Companies, and also the award recipient of the July 2017 Singapore Top Business Achievement Award.
Mr Yeow introduced, “The ‘CYTT Token’ is launched and distributed by CYTT Changyou Alliance，with the aim to provide even higher-quality services to global users. Through the combination of upstream and downstream resources and the use of the blockchain technology and its qualities, it builds a shared and win-win industrial ecological chain for the tourism industry and a more impartial and transparent tourism ecology.
OMT Group of Companies received numerous awards and recognition for its 20 years of service to the traditional travel industry
CYTT Changyou Alliance is an investment asset of the chairperson of the OMT Group of Companies and these two companies work closely to bring about greater mutual benefits. OMT Group of Companies was once a technology company which focused on Video-on-demand and media advertising systems in the tourism industry. In the 20 years of its development, Mr Yeow, chairperson of the group, has always been interested in the growth of the travel industry and in particular, the cross border travels and ever-increasing holiday travel market. After intricate and meticulous research of the industry, Mr Yeow decided to shift his focus to international exclusive travel package services.
In 2008, OMT Group of Companies was established and within a decade, they have 18 partner offices in 14 countries. In 2010, AceVenutures (OMT) Travel Consultancy was established and in 2017, OMT Entertainment, a full-service events company, was established in Singapore. These business expansions gradually developed them into a specialised and exclusive travel wholesale management company.
In the 20 years, OMT Group of Companies have been keeping an eye on the trends, moving with the flow of the developments of the travel industry. They have collaborated with international travel agencies and OTA platforms，actively implemented global activities in order to provide travel agencies all over the world with quality services.
In 2019, OMT Group of Companies participated and organised the 2019 CommunicAsia, 2019 Bangkok IT & CMA, 2019 Singapore ITB Asia and more international travel exhibition, making OMT Group of Companies the highlight of the tourism and travel industry. In particular, on the 2019 Bangkok IT & CMA, the scale of the exhibition space and business reception team owned by OMT Group of Companies could only be described as “extraordinary”, with TTG Asia reporting throughout the duration of the event. In 3 days of exhibition, OMT Group of Companies completed nearly 900 business meetings.
Currently, OMT Group of Companies has achieved astonishing results and owns a wide network of international resources. On 20th December 2019, OMT Group of Companies, along with Pacific Asia Travel Association (PATA), Tembusu Partners Pte Ltd, TTG Asia Media Pte Ltd and Blockchain Association Singapore, organised a “Blockchain in Travel Seminar” with hundreds of international travel distinguished guests and experts and tourism media witnessing this historical moment.
Regarding how the travel and tourism industry can pull through this difficult period of the coronavirus? Mr Yeow provided us with the best solution to it — The newly established CYTT Changyou Alliance which received the attention from Singapore, the United States, Australia, Japan, South Korea, Indonesia, Thailand and more. Upon the announcement of the membership registration system, the number of members increased exponentially. “OMT Group of Companies owns a variety of quality travel resources, where travel enthusiasts rushed to get their hands on this deal. The use of blockchain, big data, artificial intelligence and more novel ideas allow the resources from the global travel industry to develop in the CYTT Changyou Alliance ecosystem, allowing customers to have the best travel experience at the lowest price.”