Kessler Collection, an American luxury hotel brand, has begun accepting Bitcoin (BTC) and cryptocurrencies as payment options.
According to a press release released on Tuesday, the hotel chain has partnered with cryptocurrency payment gateway service BitPay to start accepting bitcoins.
Other cryptocurrencies in use include Ether (ETH), Dogecoin (DOGE), and four stable currencies – USD Coin (USDC), Paxos Standard (PAX), Binance USD (BUSD) and Gemini dollar (GUSD).
The Kessler Collection is now the latest luxury brand to partner with BitPay to use cryptocurrency for its products and services.
According to Fravi Collazo, the company’s CFO, the introduction of cryptocurrencies will also help reduce the burden on foreigners. Commenting on the move, CEO Richard Kessler said:
“This is one of the most innovative concepts in the hospitality industry at the moment. I think only cryptocurrency will be accepted and the partnership with BitPay allows us to offer more options in the payment process.”
In fact, from airlines to travel agencies, many sectors of the travel and hospital industry are rapidly adopting cryptocurrency payments.
The outbreak of the Coronavirus and its impact on travel around the world is also likely to accelerate the transition to virtual currency payment channels as the industry continues to digitize and prioritize contactless protocols.
In its February 2020 report, crypto travel agency Travala found that 68% of all bookings in the month were made in virtual currencies when the company recorded the largest monthly revenue figures.
In addition to using cryptocurrencies, airlines and other stakeholders are also exploring blockchain to combat the spread of COVID-19.
Last February, Air France announced that it would test a blockchain-based system to verify passengers’ COVID-19 test results.