A five-star hotel in Switzerland is preparing to accept bitcoin payments. The development occurred after partnering with a local crypto payments startup, Inacta AG.
Located in Zurich, The Dolder Grand announced it would be accepting payment in cryptocurrencies from May 1. In so doing, it becomes the latest luxury hotel to begin taking payments in cryptocurrency.
Tech partners Inacta AG supports the payment method , and will rely on their payments app Inapay. The Dolder Grand’s payment partner will remit payments, meaning the hotel itself won’t hold any cryptocurrency. The platform will allow guests to pay for their accommodation, food, drink, treatments and extras. Thus providing a comprehensive alternative to the currently supported payment methods.
The Inapay platform then converts bitcoin payments into Swiss franc or euro as soon as payments have been completed, for direct remittance to the hotel in fiat currency.
The model is the latest example of crypto payments integrating within an offline business. Furthermore, it shows how more merchants could look to onboard support for crypto payments in future.
Director of Finance at The Dolder Grand André Meier said the decision to support crypto payments was a reflection of their view that bitcoin is ‘here to stay.’
“Many of the improvements in our service in recent years were made possible by advances in technology. As we believe Bitcoin is here to stay, it only seems natural to offer more choices in the payment process.”
The move is far from the first case of a hotel accepting crypto payments, with the earliest dating back half a decade. US travel firm CheapAir started allowing customers to book hotels and flights in crypto from 2014. Similarly, Sandman Hotel Group in Canada began accepting bitcoin payment in the same year. More recently, Spanish hotel group Casual Hoteles has begun accepting bitcoin as part of a crypto payments pilot.
Their Swiss counterparts are now also about to unveil a similar payment platform. As a result, crypto users currently have more options than ever when it comes to booking accommodation through cryptocurrency.
There is still some way to go before mainstream adoption in the hotel and leisure sectors. Nevertheless, the latest move from The Dolder Grand is another step in the right direction, towards normalising bitcoin and cryptocurrency payments in everyday transactions.