S Hotels & Resorts’ two award-winning properties in the Maldives – SAii Lagoon Maldives and Hard Rock Hotel Maldives – have begun accepting cryptocurrency, or digital currency.
SAii Lagoon and Hard Rock Hotel – both located at CROSSROADS Maldives, an integrated resort in Kaafu Atoll – began accepting cryptocurrency today, which will allow customers to book and pay for their stays using virtual online currencies.
The new service is provided through the ground-breaking partnership S Hotels & Resorts have made with leading cryptocurrency trading platform, FTX.
In a statement made by S Hotels & Resorts – they said that guests will be able to make payments for their bookings at these two resorts using cryptocurrencies USD Coins (USDC) and Tether tokens (USDT). Payments can be arranged securely, from anywhere in the world.
They also noted that more cryptocurrencies are expected to be included in the future.
In addition to expanding the number of payment options offered at their properties – S Hotels & Resorts said that facilitation of cryptocurrency transactions will also target new and potentially untapped sectors of the market and also assist hotels to drive a greater number of direct bookings.
They also noted that the availability of cryptocurrency as a payment option will appeal to the new wave of Gen Y and Gen Z consumers, who operate in the online space and appreciate the convenience of virtual transactions.
Major companies which use cryptocurrency for financial transactions include Microsoft, AT&T and Virgin Galactic.
CROSSROADS Maldives which had temporarily closed in the light of the COVID-19 pandemic – reopened for the public on September 1.