English Lakes Hotels Resorts and Venues has introduced Bitcoin transactions to help expand its business into new markets.
Guests now have the option to book and pay using Bitcoin for rooms and leisure services across its venues, which include Low Wood Bay Resort and Spa on the shores of Windermere.
The company stated that the rationale behind the move is primarily to tap into the Bitcoin market both in the UK and overseas where there is a wealthy potential client base, as well as helping the hotel group to increase international bookings.
Using the Bitcoin digital currency exchange system provided by CoinCorner, the company is aiming to appeal to new customers and extend its global reach, especially to regular cryptocurrency users.
The company is also in the process of building up a treasury of Bitcoin, a key aim will be to offer the facility of paying suppliers who also accept Bitcoin.
Ben Berry, managing director, said: “There are sound business reasons for hospitality companies like ours to be embracing new technology and plugging themselves into the Bitcoin network.
“There is significant wealth held by Bitcoiners, both in the UK and around the world, and these individuals tend to lean towards supporting businesses that support this cryptocurrency. So it makes sense to accept cryptocurrency payments using Bitcoin and offer our guests a secure system to book and pay for their stay.
He added: “A key benefit for our customers is that they can make bookings and payments from anywhere in the world with greater certainty in terms of protecting themselves from price volatility. They can also lock in on exchange rates and avoid unnecessary bank charges or processing fees. Speed and ease of payments is another business advantage.”
