Travel Keys, a travel broker that operates a network of more than 5,000 luxury villas in the Caribbean, Europe and around the world, is now accepting bitcoin as a payment method.
Bobby Gibson, the company's CEO, spoke to CoinDesk about the decision, noting that as an avid follower of "anything and everything 'tech'", he's been monitoring bitcoin for a few years.
From there, all it took was demand from guests. Said Gibson:
Founded in 1991, Travel Keys indicates that its travel professionals and partners handpick and personally inspect each luxury villa on its network. Booking prices range from a few hundred dollars to upwards of $5,000 a night.
Selecting a service
Gibson said that Travel Keys has opted to ink its merchant processing deal with San Francisco-based Coinbase. Using this service, Gibson's funds are converted into whatever currency his international homeowners require.
The result, Gibson suggests, is savings along the payment chain. Guests get fast, low-cost transactions, while any operational savings reaped by Travel Keys is reinvested in the customer experience.
Despite these benefits, though, Gibson said widespread bitcoin adoption in the travel industry isn't yet likely. As an example, he named the most recent insolvency of Japan-based exchange Mt. Gox as an event that could push business away in the short term.
However, he was still optimistic about the future:
More currencies possible
Though Gibson is just started accepting bitcoin, he indicated that he's open to taking other digital currencies as well.
"If a client requests it, and it’s a proven reliable form of transmitting funds at minimal cost to the guest and/or the homeowner then I don’t see why not," Gibson said.
As for the success of the program, Gibson was unwilling to provide details on his bitcoin buyers and their transactions.
Part of the value in booking with Travel Keys, he said, is the confidentiality you enjoy.
Images provided by Travel Keys
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