US luxury hotel brand to begin accepting Bitcoin payments

The Kessler Collection, an American luxury hotel brand, has been accepting Bitcoin (BTC) and cryptocurrencies as payment options for some time.

According to a press release released on Tuesday, the hotel chain has partnered with crypto payment gateway service BitPay to accept Bitcoin.

Other cryptos are Ether (ETH), Dogecoin (DOGE) and four stablecoins – 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 enable crypto payments for their products and services.

For Fravy Collazo, the company’s chief financial officer, the introduction of crypto payments will also help ease the forex burden on international guests. Richard Kessler, CEO of the company, commented on the move:

“This is currently one of the most innovative concepts in the hotel industry. I believe that cryptocurrency will only find acceptance, and the partnership with BitPay allows us to offer more choices in the payment process. “

Indeed, various facets of the tourism and hospital industries, from airlines to travel agents, have been rapidly adopting cryptocurrency payments.

The emergence of the coronavirus and its impact on global travel has also likely accelerated the linchpin for payment channels in virtual currencies, given the emerging digitization of the industry and the prioritization of contactless protocols.

In its February 2020 report, crypto travel agency Travala announced that 68% of all bookings for the month were in virtual currencies as the company had its largest monthly sales figures.

In addition to using crypto payments, airlines and other stakeholders are also investigating blockchain to combat the spread of COVID-19.

Air France had already announced in February that it would test a blockchain-based system to check the COVID-19 test results for passengers.

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