FIVE Hotels and Resorts to accept crypto payments in Zurich

From the wild success seen by Goose Island Tap House in Jumeirah Village Circle to the fanfare caused by the announcement of a FIVE private jet, Fly FIVE, the brand has continuously sought not only to do things differently but to set a benchmark in the process. In its latest demonstration of being an established pioneer, FIVE has become one of the first hotel groups to accept cryptocurrencies from guests.

From day one, the new FIVE Zurich accepts Bitcoin and Ethereum, a move which builds loyalty with one of the brand’s most important demographics, digital-first travellers. FIVE Hotels and Resorts CEO, Aloki Batra explained, “Globally, governments are now working on [crypto] legislation. Progressive leaders are trying to determine how cryptocurrencies can best be regulated, and bring it into a mainstream way of life.

“FIVE Zurich is just the beginning for us, FIVE has always been an adapter as well as an early adopter.“Quite a few of our customers are invested in cryptocurrencies, for our guests, it’s about ease of use. If you have a crypto wallet, it’s a direct means of payment from a single wallet without having to worry about transferring different currencies between accounts.”

In Dubai, FIVE has been built from the ground up as a brand, which resonates with a largely Millennial audience, offering them an exciting escapade away from their everyday lives into a world of seemingly-limitless luxury and entertainment. Young, rich and trendy, Batra shared that the clientele of FIVE and the adopters of crypto are two demographics that “go hand in hand.”

The CEO explained: “There’s a group of customers who would much rather pay with their crypto wallets, and would therefore rather choose our hotel over having to pay by traditional means. It helps FIVE relate to a new, emerging demographic of guests.
“It also shines a spotlight on FIVE as a digital-forward brand, which we have always aimed to achieve – and have accomplished. For us, cryptocurrency payment acceptance is a natural progression of that commitment as we are constantly reimagining how to best use technology for our varied guest services and offerings.”

The move into cryptocurrency imbursements – as Batra stated – is part of FIVE’s ongoing mission to innovate and be a reputable pace setter. Utilising the latest in tech is just one of the key ways in which FIVE will achieve this moving ahead, the CEO revealed. “This year FIVE will be launching its own unique and specialised App – one that stands out amongst others on the Hospitality Landscape. Why? Simply because, we’re always looking to proactively be one step ahead –imaginatively and operationally.”

In the UAE, FIVE is famed for its ability to break through boundaries. With the brand landing in Europe for the first time, Batra expects FIVE to achieve the same in Switzerland. In fact, he shared there has already been “an overwhelming response to opening of FIVE Zurich.”

He revealed: “I’ve never had food and beverage bookings sell out so early – ever. Dubai is a ‘last minute city,’ but the demand in FIVE Zurich has been steadfastly growing.” When the hotel was first announced two years ago, it turned heads. A hotel brand born and formed in Dubai, people wondered what a ‘Dubai hotel’ would look like when it’s taken out of the emirate. Batra shared that FIVE Zurich is not just a Dubai hotel – it’s a FIVE hotel, born in Dubai.

That means it is centred on providing an entertainment ecosystem. Not only that, it is a multi-cultural brand, which is where he believes Dubai’s impactful influence comes in. He shared: “FIVE Zurich is FIVE in Switzerland, it’s that simple. Dubai is a city of the now – and a city of the future – due to its’ far thinking leadership, impeccable infrastructure and position as a global travel hub – all of which has supported a brand like ours to grow marvellously within the emirate, and one that is therefore now able to expand internationally as well

Batra said: “We’re looking at it FIVE Zurich, as we do with all of FIVE, as an all-inclusive destination, not just a hotel. The FIVE ecosystem includes varied homegrown venues such as The Penthouse, Maiden Shanghai and concepts like Skyline Thursday which have created a loyal audience of ‘FIVERs’ – our long-term vision has always been to provide guests with multiple options under one all-encompassing ‘Vibe at FIVE’ roof.

I believe FIVE Zurich will soon be the number one luxury, lifestyle, experiential and entertainment destination in all of Switzerland.” Constantly keeping up with the times, with its’ finger on the pulse of the modern traveller, FIVE’s foray into cryptocurrency payments is proof of a wider commitment: Always being ahead of the curve.