Luxury Hotel in Swiss Alps Accepting Crypto Payments

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In Brief
  • The Chedi Andermatt, a luxury hotel in the Swiss Alps, announced that guests can now use cryptocurrency to pay for their stay.

  • Initially, the hotel will accept both Bitcoin and Ethereum, but will consider taking other cryptocurrencies in the future.

  • The resort initially considered taking cryptocurrencies as a payment option about four years ago.

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The Chedi Andermatt, a luxury hotel in the Swiss Alps, announced that guests can now use cryptocurrency to pay for their stay. 

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Initially, the hotel will accept both Bitcoin and Ethereum, but will consider taking other cryptocurrencies in the future. Swiss crypto service provider Bitcoin Suisse, as well as payment-service provider Worldline, will facilitate the crypto payments for the hotel. Payments in cryptocurrency are immediately converted into Swiss francs upon confirmation, the hotel said.

The resort initially considered taking cryptocurrencies as a payment option about four years ago. However, it decided to wait until it could ensure transactions would be secure, and price fluctuations could be handled appropriately. 

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“We are making a clear statement to our hotel guests that we are open to new technologies and at the same time offer a new payment experience as an additional service,” said Chedi general manager Jean-Yves Blatt.

The hotel is controlled by billionaire Samih Sawiris, whose fortune comes from Egyptian real estate. Sawiris teamed up with other investors to spend more than $1 billion to redevelop Andermatt, a ski resort that had fallen out of favor. Located about 110 kilometers (70 miles) drive from Zürich, a high-end suite at the five-star hotel can cost thousands of dollars per night.  

Luxury hotel payments

Although notable for its prominence, the Chedi is not the first luxury hotel to accept cryptocurrency as payments. Earlier this year, Richard Kessler-owned luxury hotel group, Kessler Collection, has reportedly become the first to accept cryptocurrency payments. The luxury hotel group utilized the services of Bitpay to enable these transactions. 

At the time of the announcement, Bitcoin, Ethereum, and Dogecoin, as well as four unspecified stablecoins were being accepted. Headquartered in Orlando, Florida, Kessler Collection is a leading player in the hospitality industry. It owns several premiere hotels in the United States. 

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Nick is a data scientist who teaches economics and communication in Budapest, Hungary, where he received a BA in Political Science and Economics and an MSc in Business Analytics from CEU. He has been writing about cryptocurrency and blockchain technology since 2018, and is intrigued by its potential economic and political usage. He can best be described as an optimistic center-left skeptic.

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