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July 6, 2021

Coindirect partners with The Pavilions Hotels & Resorts to allow guests to pay for hotel bookings with cryptocurrencies

We are excited to announce our partnership with international hotel group, The Pavilions Hotels & Resorts. This partnership is the first of its kind and will enable The Pavilions Hotels & Resorts to accept cryptocurrency for hotel bookings. 

Typically, there are three reasons for any business to adopt a new payment processing method. The first, is because a business has recognised that a new payment method is disrupting the existing status quo. Therefore, to not adopt said payment method could potentially result in losing customers and booking volume because of the absence of that emerging payment method.

The second, is to attract a new demographic, and create an incremental uplift in your users, volume, or basket size. Payment methods often create their own network effect – where increased usage and acceptance creates more users and adoption. So accepting a new payment method can come with an already established customer base that has whole heartedly adopted this method as its preferred, or in some cases, only payment type.

The third, is to operationally improve your processes. Accepting payments globally comes with challenges that impact the speed, cost, and geographic footprint of your business. Card payments or bank transfers can take days to process – squeezing your working capital. Relying on convoluted legacy processes involving multiple schemes and banks results in exploding costs. And wide ranging currency and geographic factors can impact your ability to enter or grow new markets.

Crypto payment processing is one of the few, if not only, payment methods that presents a solution to all of these challenges. By adopting crypto payment processing, The Pavilions Hotels & Resorts are able to future-proof their acceptance strategy, providing enhanced choice to existing customers, and attracting an entirely new demographic of paying customers.

Future-proofing your payments strategy to retain and grow your customer base is only part of the reason that incorporating Coindirects crypto processing solution made sense for The Pavilions Hotels & Resorts. The Coindirect solution adds huge value operationally, which makes it more than just beneficial to the consumer. Through Coindirect’s platform, The Pavilions Hotels & Resorts will be able to speed up settlement times to same-day – reducing the working capital constraints of existing payment rails, optimise margins by reducing processing costs, and unlock access to broader geographies and markets while reducing FX exposure.

Gordon Oldham, Founder & Owner of The Pavilions Hotels & Resorts said, “Personalised experiences are at the core of our DNA, allowing this flexibility in payments combined with security and peace of mind for our guests is the next step in personalised and bespoke services. We are proud to lead the industry and enhance ourselves in the digital world with this exciting new crypto payment method available at all of our unique and distinct Hotels and Resorts across the globe.” 

Jesse Hemson-Struthers, CEO and Co-founder of Coindirect added, “We pride ourselves on providing partners a platform for instant secure payments with over 40 Cryptocurrencies; this was a critical factor for The Pavilions Hotels & Resorts to ensure the end-to-end payment service is safe, flexible and easy for guests, when booking their next experience at any of The Pavilions Hotels & Resorts’ across the globe.” 

“Guests can take advantage of paying in the Cryptocurrency of their choice, based on the currency and location they are situated in at the time of booking, offering more freedom and a contemporary, personalised service.” he continued.

Additionally, The Pavilions Residences, which are available for sale at the group’s Phuket and Niseko resorts, will also accept Cryptocurrencies for the sale of properties. This is a huge step for the real estate industry and will allow for faster, more cost effective and secure transactions across borders. The Pavilions Hotels & Resorts are leading the tourism and real estate industry into the future of secure online payments.

Payment via Cryptocurrencies will be available for direct bookings through each hotel’s reservations centre from 07 July 2021. In the near future, it will be available on website booking engines as well. Visit here for a complete list of supported Cryptocurrencies.

Learn more about Coindirect Business and its B2B solution here: https://www.coindirect.com/business