Is the Hotel of the Future Based on Digital Assets?
Key Points:
- A hotel concept around digital assets could create revenue.
- Bringing digital assets to a physical space could appeal to many.
- The concept includes a crypto trading floor as the main attraction.
Commentary:
The pandemic pushed the hospitality industry to the brink. However, crisis often breeds innovation and creativity. So, what’s next for the hotel ecosystem? Brian Esposito, CEO of Esposito Intellectual Enterprises, is developing a new hotel concept around digital assets such as cryptocurrency. He joined Say Yes to Travel host Sarah Dandashy to discuss it.
Esposito’s holding company includes 75 entities operating in over 25 different industries, two of those being hospitality and crypto. He founded his company to build a world as he sees it and wants to contribute to it. “I want to add value, connect the dots, and enhance the guest experience.”
Esposito noted that several areas of hospitality are booming post-pandemic, including private aviation and wellness travel. He said that it’s an exciting time and the perfect one to do something completely different.
“I’m working on a new hotel concept with digital assets. Properties are at a discount now, and this could be a source of new profitability when the currency is crypto,” Esposito said.
Travelers may spend more in digital currency but need a space to do that. Reinventing the traditional hotel infrastructure is part of the concept. “It would likely include private residencies for the crypto community. But it’s bringing this abstract concept into a familiar environment.”
Another idea for these hotels is to remove the ballroom and replace it with a digital exchange floor. “Ballrooms are a burden and often bleeding money. The model would be to create a crypto exchange trading floor. It’s using an institutional model people know to introduce something new so people will want to get involved,” Esposito shared.
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