Luxury hotels that accept cryptocurrency
Some luxury hotels now offer a new advantage: the possibility of pay in cryptocurrency. From Dubai to the Swiss Alps, several high-end hotels allow customers to exchange their credit cards for their digital assets.
The Chedi Andermatt, a 5-star hotel in Andermatt, Switzerland, is one of them.
General Manager Jean-Yves Blatt said the hotel, which began offering such payments in August 2021, currently accepts Bitcoin and ETH, an option that continues the personalized services it offers to its guests. clients.
Gatt said: “We make it clear to our hotel guests that we are open to new technologies and that we offer a new payment experience as an additional service.
Gatt said the Chedi Andermatt, which “is striving to revolutionize the world of luxury hotels“, had studied the process four years ago, but “at the time it was not possible, because the volatility of these currencies was too high”.
He added that digital payments company Worldline Switzerland now allows the hotel to offer its guests cryptocurrency payments without being exposed to volatility risk, as crypto transactions are converted into Swiss francs immediately upon confirmation.
This, he said, provides the best of both worlds – payment options for guests while ensuring that hotel revenue and operations are not subject to crypto volatility.
The Pavilions Hotels & Resorts
The group has been accepting Bitcoin, ETH and 40 other currencies since July 2021. The group has 14 locations around the world, including properties in Phuket, Bali, Himalayas, Mongolia and Niseko in Asia, and Amsterdam, Madrid, Lisbon and Rome in Europe. , according to a press release.
The Kesler Collection
The Kessler Collection claims it is the “first U.S. luxury hotel group to accept cryptocurrency as a form of payment,” which it began offering in March 2021, according to a press release.
Hotels in Alabama, Colorado, Georgia, Florida, North Carolina, and South Carolina will accept Bitcoin, Ethereum, Dogecoin, and several others, including four stablecoins, as payment “to meet growing demand.”
S Hotels and resorts
The group partnered with the FTX platform in October 2021 to allow its customers to pay in crypto at two of its properties in the Maldives: SAii Lagoon Maldives and Hard Rock Hotel Maldives. Customers can pay in USD coins (USDC) and Tether tokens (USDT), and other cryptocurrencies are expected to be added, according to a press release.
More Hotels Are Taking Crypto Now
From Dubai to Hong Kong, the number of luxury hotels accepting various forms of crypto payments is growing rapidly, which makes sense from various angles, said Daryl Kelly, director of Chestertons Barbados and CEO of platform NFT LTD.INC.
First, crypto adoption has grown exponentially and globally. Additionally, high net worth individuals in particular have allocated more of their net worth to Bitcoin and other cryptocurrencies.
“So in short, there are more people willing to spend their crypto for a variety of purposes, including when it comes to traveling and staying in high-end hotels,” Kelly said, adding that he There are also benefits for hotels, largely because crypto payments are usually instant and final.
According to him, in the near future, there will be an evolution of crypto in luxury hotels and destinations that will involve more complex and interesting use cases, such as the use of NFTs as a form of exclusive membership in a club.
“So, for example, this could involve a five-star resort in the Maldives issuing exclusive NFTs to its most loyal customers, who can in turn use those NFTs much as you would imagine an airline using a points system for frequent flyer miles. “, said Kelly. . “This would mean that holders of this NFT could check into the hotel, scan the digital asset into their wallet, and immediately qualify for discounted uses for spas or nighttime activities. In fact, the use cases for NFTs as a digital signifier of exclusive membership to any hotel or resort could be as important, if not more so, than general payments using crypto.
Benefits of Paying with Crypto
Armin Schmid, head of BTCS Pay, Bitcoin Suisse’s crypto payment solutions team, also notes that there are several benefits for customers. It’s as simple as paying by credit card, it avoids currency conversion and represents equal opportunities for all.
“Luxury hotels often have a majority of international guests,” Schmid said. “The advantage of paying with crypto is that they don’t need to convert their local fiat into the national fiat currency of the hotel location.”
Schmid added that while setting up the crypto acceptance process involves upfront costs, once everything is in place, the costs of handling crypto payments are much lower than the costs associated with credit card payments.
“Downloading a mobile crypto wallet and storing your crypto in it to use for everyday payments is quite simple,” he said, adding that Bitcoin Suisse enables crypto payments with European payment and mobile industry leader Worldline. transactional services. “The younger generation, in particular, prefers quick and easy crypto payments to more traditional means.”
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