The luxury hotel Chedi Andermatt in Switzerland now accepts cryptocurrency payments

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According to local Swiss media, Thursday The Chedi Andermatt, a luxury hotel managed by billionaire Samih Sawiris, has announced that visitors will pay for their stay in the Swiss Alps using bitcoin.

The five-star luxury hotel is located in Andermatt, Switzerland’s most opulent and hidden ski resort, founded in 2013. According to a story in the Swiss news outlet Blick, the Chedi Andermatt Hotel has announced that it would now accept Bitcoin and Ethereum-based cryptocurrencies to pay for hotel costs totaling more than 200 Swiss francs.

Like traditional payment methods like bank cards or credit cards, payment in crypto is not susceptible to price changes since the hotel will convert it to Swiss francs—the official currency of Switzerland—as soon as it is confirmed.

Jean-Yves Blatt, the hotel’s general manager, explained:

“We have long known that cryptocurrencies also have a future in hotel operations. In the course of the increasing spread and acceptance of cryptocurrency payments, we are proud to be one of the first Swiss luxury hotels to be able to offer our guests cryptocurrencies as a secure means of payment.”

In high season, the lowest price at Chedi Andermatt, which offers hundreds of rooms and suites, is around 1,300 francs per night.

On Coinmarketcap, Bitcoin and Ethereum were trading at $47,103.82 and $3,111.56, respectively, at writing. According to current transaction pricing, each night during peak season costs roughly 0.03 BTC or 0.45 ETH.

The Chedi Andermatt resort company isn’t the only one to accept bitcoin payments. Pavilions, a luxury hotel and resort company, began taking cryptocurrency bookings in July, making it the first worldwide luxury boutique hotel group to accept up to 40 different cryptocurrencies for reservations.

Not only have hotels begun to take cryptocurrency payments, but so have real estate developers, who have begun to incorporate bitcoin into various payment methods.

On May 7, Arte by Antonio Citterio, a high-end luxury condominium in Miami, revealed that bitcoin would be accepted as a form of payment for new residential projects and exclusive apartment sales.

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