Its customers will be allowed to use cryptocurrencies to book accommodation starting tomorrow, the Asia general manager of global resort group Pavilions Hotels & Resorts told Forkast.News.
Its customers will be allowed to use cryptocurrencies to book accommodations starting tomorrow, the Asia general manager of global resort group Pavilions Hotels & Resorts told Forkast.News.
Scot Toon said Pavilions has partnered with British payment service Coindirect to allow paying guests in more than 40 cryptocurrencies , including Bitcoin and Ethereum , to book stays with the group across the hotel chain in Asia and Europe. Cryptocurrency will also be accepted for the purchase of properties in the Thai resort town of Phuket and the Japanese town of Niseko. The Thailand-based company hopes to expand opportunities to use cryptocurrencies to purchase other goods and services at resorts in the future . Toon said:
“Cryptocurrency is something Pavilions sees will exist forever. It won’t go away anytime soon and people have been adopting it more and more over the past few years. People are taking on this in the retail industry, so it made sense for us to undertake it in the travel space.”
The volatility of cryptocurrencies is often cited as a concern hindering their adoption, but Toon said that fiat currencies are not immune to price fluctuations and are simply a part of international trade. Thanks to its partnership with Coindirect, Pavillions can hold cryptocurrencies in their accounts or convert it to fiat.
“It is exciting to see more and more people adopting cryptocurrency for business,” Toon said. You will see more and more in the travel space adopting cryptocurrencies as a form of payment.”