The company has entered into an agreement with the British payment service Coin direct to accept over 40 digital assets, including Bitcoin and Ethereum.
The large hotel chain Pavilions Hotels & Resorts will allow customers to pay with cryptocurrency for room reservations starting July 7. Forkast.News was informed about this by the managing director of the company in Asia Scot Tun.
Pavilions Hotels & Resorts has partnered with UK payment service Coin direct to accept more than 40 cryptocurrency, including Bitcoin and Ethereum, he said.
Tun explained that the company has decided to start leveraging digital assets as they actively enter the retail sector. Thanks to cooperation with Coin direct, the company will be able to store cryptocurrency in its own accounts, as well as convert it to fiat if necessary.
The volatility of cryptocurrency is often cited as a problem that prevents their adoption in the financial sector, but fiat currencies are not immune to price fluctuations and are only part of international business, Thun added.
In late May, the Sheetz convenience store chain, one of the largest in the northeastern United States, announced plans to accept cryptocurrency as a means of payment in retail outlets. It is the first chain of stores to allow shoppers to pay with digital currencies.