Billionaire Samih Sawiris’ 5-star Chedi Andermatt hotel will allow guests to pay for stays in the Alps using cryptocurrency. The luxury hotel joins Turpial airlines and a growing list of companies that have adopted crypto payments.
For starters, the hotel will only accept Bitcoin and Ethereum. Local media The Blick stated recently; guests could use cryptocurrency for accommodation bills exceeding $218 or 200 CHF. The hotel has selected Bitcoin Suisse, a crypto service provider, and payment service provider Worldline, as their facilitator. All payments made in cryptocurrency will be converted into Swiss francs immediately as soon as payment is confirmed. The Chedi Andermatt General Manager Jean-Yves Blatt explained:
“We have long known that cryptocurrencies also have a future in hotel operations. In the course of the increasing spread and acceptance of cryptocurrency payments, we are proud to be one of the first Swiss luxury hotels to be able to offer our guests cryptocurrencies as a secure means of payment.”
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The hotel that sits in the heart of the Swiss Alps charges $600 for a double room per night and has 123 rooms offering a spectacular view of the Alps. The plans for cryptocurrency payments started at least four years ago. The hotel was seeking a payment mode that would guarantee secure transactions while avoiding severe price fluctuations.
The Chedi Andermatt joins a list of growing large corporations that have since adopted cryptocurrency payments. These include:
Pavilion Hotels & Resorts
The Hong Kong-based hotel group became the first international hotel to accept payments via digital currencies. The group accepts at least 40 different cryptocurrencies in Madrid, Lisbon, Rome, Bali, and Phuket.
The Switzerland-based giant insurance broker started accepting crypto payments last April. The decision to accept Bitcoin payments was in the cards beginning in 2019. The payments made through Bitcoin Suisse are converted instantly into Swiss Francs.
Starbucks allows its customers to use the Bakkt App to make Bitcoin payments for drinks and goods in their coffee chain. Starbucks reports there are at least half a million clients already using the digital payment mode.
PayPal users in the United States and the United Kingdom can now hold, buy and sell using cryptocurrencies. The giant payment processor accepts payments in five leading cryptocurrencies: Bitcoin, Ethereum, Bitcoin Cash, and Litecoin.
As more and more businesses start adopting crypto payments, Switzerland continues to trail the blaze as one of the most crypto-friendly countries worldwide. The canton of Zug, also known as the “Crypto Valley,” is home to several blockchain and cryptocurrency startups. The Canton of Zug announced last February it was considering allowing residents to pay their taxes in cryptocurrency.
Tom is a freelance writer with over 10-years’ experience in content creation, blog writing, and SEO specializing in the blockchain and cryptocurrency niche. As a philosophical figurehead, he believes that to make our world a better place, we must invest in incorruptible products and procedures, of which Bitcoin and other cryptocurrencies are leading examples.