The Rise of Crypto in Hospitality

In a move that is making waves across the travel industry, The Kessler Collection has officially hopped on the cryptocurrency bandwagon. This luxury hotel chain has begun accepting Bitcoin and a handful of other digital currencies as payment methods. When one thinks of luxury accommodations, the thought of using Bitcoin might seem odd, but as it turns out, this is the new normal.

Bitcoins and Beyond: What Cryptos Are Accepted

As announced in their recent press release, The Kessler Collection has partnered with BitPay, the crypto payment gateway service that has become synonymous with digital transactions. Guests can now settle their hotel bills using a variety of currencies, including:

• Bitcoin (BTC)
• Ether (ETH)
• Dogecoin (DOGE)
• Stablecoins: USD Coin (USDC), Paxos Standard (PAX), Binance USD (BUSD), Gemini Dollar (GUSD)

So, if you’re planning a lavish escape at one of their hotels, you can leave the traditional currency at home and pay with the shiny new digital coins instead. Who knew luxury could be so… modern?

A Solution for International Guests

The Chief Financial Officer, Fravy Collazo, has noted that embracing cryptocurrency will also alleviate foreign exchange burdens for international visitors. No more awkward math when trying to convert your euros or yen into dollars while figuring out if you can afford the extra room service!

CEO’s Vision: A Step Towards the Future

CEO Richard Kessler didn’t hold back in his excitement regarding this innovative shift. “This is one of the most innovative concepts in the hospitality industry right now. I believe cryptocurrency is only going to gain acceptance,” Kessler said with the enthusiasm of a kid on the last day of school. The partnership with BitPay allows for more flexibility in the payment process, which aligns perfectly with the evolving landscape of travel.

Crypto’s Growing Presence in Travel

The push towards cryptocurrency payments isn’t isolated to The Kessler Collection. The ongoing pandemic has caused industries, especially tourism, to rethink traditional ways of operating. The surge in digital payment options is a direct response to changing consumer preferences.

According to Travala’s report from February 2020, 68% of their bookings were made with virtual currencies—an unprecedented figure reflecting consumer demand. In addition, airlines and various travel agencies are also exploring blockchain technology to enhance safety protocols. Air France, for instance, is testing a blockchain system to verify COVID-19 test results, ensuring that travelers have a safe journey without the stress of paper-based verification.

The bottom line? The hospitality sector is pivoting towards a more digital, secure, and innovative approach to payments, embracing the future—crypto and all!