A luxury hotel chain has jumped on the Bitcoin bandwagon in allowing customers to make payments through digital currencies that also include Dogecoin.
Kessler Collection, that owns an array of prized hotels across America in Alabama, Colorado, Georgia, Florida, North Carolina, and South Carolina. An announcement from the ever-evolving hotel group on Tuesday, stated that cryptocurrencies will be an accepted payment method. These include Bitcoin, Dogecoin, Ether, stablecoins USDC, Binance USD, Gemini Dollar, and PAX.
Kessler Collection chairman and CEO, Richard Kessler is quoted by Business Insider via Hypebeast saying, “This is one of the most innovative concepts in the hospitality industry right now,”
“I believe cryptocurrency is only going to gain acceptance, and partnering with BitPay allows us to offer more choices in the payment process.”
Despite this news, there are concerns from analysts about the prospect of crypto owners spending their digital currency over paper money. This is largely due to the long-term investment of cryptocurrencies that the industry is branded with.
“If you are optimizing for growing your investments, a better question is ‘why would you go on vacation if you can invest those funds in crypto?’,” Kraken’s head of business operations and strategy Thomas Perfumo questioned. “An investor could otherwise simply purchase and transfer additional crypto without reducing their holdings, all within minutes or hours.”