Bitcoins: Fad or trend?

The bitcoin currency (code XBT) was introduced in 2008 by Satoshi Nakamoto. Since then, speculation about the likely success and sustainability of this currency has been the prevalent topic of discussion about it.

Even after its latest period of volatility, more than 60,000 retailers now accept this currency worldwide. The hotel industry is not an exception. Sandman Hotel Group in Canada accepts bitcoins since June this year across its 44 properties. RevPAR Guru offers this payment method through its hotel booking engine, Guest Leader. The D Casino Hotel and the Golden Gate Hotel & Casino in Las Vegas have accepted bitcoins since the beginning of the year. In Europe, boutique hotel chain One Shot Hotels just became the first hotel chain in Spain to accept bitcoins. The company has installed its first bitcoin ATM in one of its Madrid properties.

On the hotel distribution front, Expedia, the largest online travel-booking site, in June announced the acceptance of bicoins for hotel bookings only. Airbnb has not taken this step yet, but its German rival, 9flats, has accepted bitcoins since April last year.

Only time will tell if we will have to incorporate yet another form of payment into our hotels’ IT platforms. What do you expect?