“Five Hotels and Resorts” in Dubai Will Accept Bitcoin and Ethereum Payments

Cryptos Benefit From Demographics

The hotel’s decision to begin accepting cryptocurrency was made after careful consideration. To begin, around 78 percent of the hotel’s customers are under 35 years old. In the crypto sector, this age group accounts for over 60% of all cryptos.

By accepting crypto payments, FIVE Hotels and Resorts is essentially attaching itself to its core clients and presenting itself as the hospitality sector leader when it comes to adopting new technologies and modes of operation that are popular with the majority of customers.

Switzerland Is Crypto-Friendly

Aside from recruiting a target set of crypto-savvy customers, FIVE Hotels and Resorts is aware that Switzerland has established a reputation in Europe as a particularly crypto-friendly country. This is good for FIVE because the Zurich location is the company’s first in Europe. The decision may inspire other European businesses to follow suit, as well as provide opportunities for FIVE to grow into new markets.