Scot Toon , managing director of the famous Pavilions Hotels & Resorts, reported that they will accept bitcoin payments.
Coindirect, a British company that offers bitcoin payment services, announced in a joint announcement that guests can pay in Bitcoin while booking stays in Europe and Asia. Customers will be able to buy properties on Phuket, Thailand in Japan with bitcoin.
Bitcoin payments have become more popular in recent years. As we move into the digital age, widespread adoption is likely.
Toon agreed and stated that “Cryptocurrency was something Pavilions saw would be around forever.” It isn’t going away any time soon and people have been adopting it more frequently over the past few years. It’s becoming more popular in the retail industry, making it easy for us to adopt it in the travel sector.
Toon said, “It’s exciting times being able to adopt cryptocurrency for business. “You will see more people in the travel industry adopt cryptocurrency as a method of payment.
Toon also discussed the volatility of Bitcoin and shared his thoughts about how fiat currencies can also experience price fluctuations. This is part of international business.
Depending on their needs, Pavilions may either sell or hold the bitcoin they receive in payment. It is possible that they will keep most of the bitcoin received and only sell what they need to pay costs.
Central banks have been printing money at an alarming rate over the past year. Inflation and currency devaluation will result from expanding the monetary supply.
The world-famous hotel chain chose to be paid and keep some wealth in crypto. It has 21 million BTC, and not one coin more. They don’t have to worry about the central bank printing their earnings away.