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- The Chedi Andermatt, a luxury hotel owned by billionaire Samih Sawiris, has announced that visitors will be able to pay for their stay in the Swiss Alps using cryptocurrencies
- Guests at the Chedi Andermatt hotel can now pay bills of more than 200 Swiss francs, around $218 — using Bitcoin or Ether, according to an article published on Aug. 26 by Swiss news source Blick
- The Chedi debuted in 2013 as the centerpiece of a Sawiris-led reconstruction of Andermatt, a once-popular ski resort
The Chedi Andermatt, a luxury hotel owned by billionaire Samih Sawiris, has announced that visitors will be able to pay for their stay in the Swiss Alps using cryptocurrencies. In a statement, the hotel stated that it will accept Bitcoin and Ethereum and that it will consider accepting other cryptocurrencies in the future. According to the hotel’s website, a top-end suite at the five-star Chedi Andermatt, approximately a 110-kilometer (70-mile) drive from Zurich, may cost hundreds of euros each night.
A five-star hotel in a wealthy section of the Swiss Alps is ready to take Bitcoin (BTC) and Ether (ETH) as payment from visitors after four years of debate. Guests at the Chedi Andermatt hotel can now pay bills of more than 200 Swiss francs, around $218 — using Bitcoin or Ether, according to an article published on Aug. 26 by Swiss news source Blick. Prices appear to be set in fiat to avoid any risk of volatility, with the hotel instantly turning any cryptocurrency received into francs. They have understood for a long time that cryptocurrencies have a future in hotel operations, said Jean-Yves Blatt, the hotel’s general manager.
They are happy to be one of the first Swiss luxury hotels to be able to offer their guests cryptocurrencies as a secure method of payment, as the distribution and acceptability of cryptocurrency payments continue to grow. The Chedi Andermatt, which opened in 2013, includes 123 rooms and suites that start at 1,300 francs per night in high season, or around 0.03 BTC or 0.45 ETH. According to Coinmap, there is also a BTC-accepting holiday rental in the region. Despite the fact that many firms have begun to accept digital assets, Switzerland has long been a crypto-friendly country. The Swiss canton of Zug, dubbed Crypto Valley, is home to a slew of blockchain and crypto companies, as well as tokens that are widely used for a variety of reasons. Zug announced in February that people would be able to pay taxes in cryptocurrency for the first time.
The Chedi debuted in 2013 as the centerpiece of a Sawiris-led reconstruction of Andermatt, a once-popular ski resort. Sawiris, who made his money in Egyptian real estate, teamed up with other investors to invest more than $1 billion in the town’s redevelopment. Switzerland has been one of the most ardent adopters of cryptocurrencies in Europe.
Zug, which is known for its low corporate taxes and is home to commodities traders, said last year that it will accept Bitcoin as a form of tax payment. Zug, which is also a hotspot for cryptocurrency companies, has accepted Bitcoin as payment for some businesses since 2016 and has pushed Zermatt to do the same.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
