Starting tomorrow, July 7th, the world-famous Pavilions Hotels & Resorts will accept payments in Bitcoin, reported managing director Scot Toon.
The announcement also states that they have partnered with Coindirect in the UK to allow guests to pay in BTC when booking their stays in Europe and Asia. Customers also have the option to buy real estate on the Thai holiday island of Phuket in Japan with Bitcoin.
Bitcoin payment acceptance has become increasingly popular in recent years, and as we move further into this digital age, mass adoption seems imminent.
Toon agrees, and even said, “Cryptocurrency is something that [Pavilions] The saw will be there forever. It won’t go away anytime soon and people have been adopting it more and more in recent years. People take it up in retail so it made sense for us in the travel space to take it up.
“It’s an exciting time to see more and more people embracing cryptocurrencies for businesses,” added Toon. “In the travel sector you will be using more and more cryptocurrencies as a means of payment.”
Toon also addressed Bitcoin’s volatility by sharing his thoughts on how fiat currencies are also subject to price fluctuations and that this is only part of doing international business.
Pavilions will either hold or sell the bitcoins they receive in payment, whichever they see fit at the time. One can only assume that they hold almost all of the bitcoins they receive and only sell them when necessary to cover the costs. Over the past year central banks have been printing money like crazy. An expansion of the money supply, especially like this one, will lead to currency devaluation and inflation.
This world famous hotel chain chooses to get paid and store some of its wealth in the toughest money mankind has ever had – one that is on offer at 21 million BTC and not a single coin left. You no longer have to worry about a central bank printing out its earnings.