In conversation with Ian Simpson

As General Manager of The Chedi Andermatt – one of the world’s leading luxury hotels - Jean-Yves Blatt was directly responsible for the decision to allow guests at The Chedi to pay with cryptocurrencies (BTC/ETH). A renowned hotelier who graduated from the prestigious Ecole Hôtelière de Lausanne, Mr. Blatt has enjoyed a highly successful, 13-year career and established himself as a genius among hoteliers within a very short time as Director of Sales & Marketing in multiple top hotels in Switzerland. His reputation was strengthened when he took over the Grand Hotel Park in Gstaad in 2005 and helped return the family-owned business to its previous splendor. He moved on to The Chedi Andermatt – with its 123 rooms, five restaurants and 2'400 square metre The Spa & Health Club - in 2015. An avid hiker and skier, he credits his family, wife, three children and dog for giving him the strength to become Hotelier of the Year in 2020 and to run the 300 employee business of The Chedi Andermatt.

When did you first hear about Bitcoin? Can you remember your first impressions?

I heard about it for the first time in 2010 already and I was very curious how the concept works, meaning not only Bitcoin, but the blockchain overall.

Many people believe Bitcoin and cryptocurrencies are the future - do you agree?  

Yes, indeed, as everything in our world is changing with digitalization and especially since the pandemic, this process has even accelerated.

It was certainly a pioneering step for The Chedi as one of the very first luxury hotels in the world to accept Bitcoin and Ether for payments. How did you decide to take this step?

Here at The Chedi Andermatt, we have always strived to revolutionize the world of the luxury hospitality and you may see that in our offer, this not only in the design and the architecture of the property, but also in the daily work of our young and talented teams serving guests with passion and freshness. This is a continuous process that is well-anchored in our philosophy at The Chedi Andermatt.

Already four years ago, we had this idea to accept cryptocurrencies as payment, but at that time it was not possible, as the volatility of these currencies was too high. Now Worldline Switzerland enables the hotel to offer its guests payments in cryptocurrencies without being exposed to the risk of volatility, as the crypto transactions are converted into Swiss Francs immediately after confirmation.

To start with something as new as cryptocurrencies - you certainly must think far into the future. The founder of The Chedi, Samih Sawaris is known as a visionary – one could say the same of you. How do you "think beyond" – into the future? Is this your normal way of thinking or do you have to force yourself?

As already mentioned, this is a mindset, a philosophy! At The Chedi Andermatt, we are not following the trends, but we are trying to create them.
Even, in terms of cooperation, we are trying to be the best in class and to remain different. Here is one example: A few months ago, we began a cooperation with Harley Davidson, as they just brought out their LimeWire motorcycle, their first electro motorcycle – which is a revolution for Harley Davidson, just like for The Chedi Andermatt eight years ago.

Why exactly was now the right time for The Chedi to start accepting cryptocurrencies? How is it to work with Worldline and Bitcoin Suisse?

It was the right time because our partner, Worldline Switzerland, was ready to help us do it! Worldline has the means for the acceptance of all national and international means of payment and offers the most modern payment technology in the interest of a smooth payment experience for guests. This has recently also included the acceptance of cryptocurrencies. The Chedi Andermatt is still in the pilot phase of this solution with Worldline.

In order to have a smooth and powerful entry on the market, we have chosen the two largest players in Switzerland: Bitcoin Suisse as one of the largest crypto service providers on the Swiss market and Worldline for its technology.

In some ways Switzerland and perhaps the luxury hotel industry are quite conservative – and yet this country is also well-known for innovation. How do you think it is possible to combine tradition with innovation?

At The Chedi Andermatt, we are also following the very traditional way of the hospitality industry, but at the same time, we need to innovate, to keep pioneering and to revolutionize this industry. This is exactly the mix which is important to us, as we are living in a world full of contrasts.
By the way, our moto is: Asian, Alpine, different!

Is there some advice you would give to other top hotels or merchants who are considering this step? How can people learn from the experience of The Chedi?

I can only encourage them to take this step. However, every business entity is different, so every merchant will need to assess whether this step should be taken or not.