S Hotels & Resorts Steps Into the Future as it Starts to Accept Cryptocurrencies as Payment

Press Room

Innovative new partnership with trading platform FTX allows a new generation of customers to pay for stays at SAii Lagoon Maldives and Hard Rock Hotel Maldives – the first hotels in the country to accept virtual currencies

SAii Lagoon Maldives and Hard Rock Hotel Maldives, the two world-class resorts at CROSSROADS Maldives, will both start
to accept cryptocurrencies as payment from 1st October 2021

For Immediate Release 30 September 2021

BANGKOK, THAILAND: S Hotels and Resorts Public Company Limited, the flagship hospitality arm of Thailand’s
Singha Estate PCL, constantly strives to drive the hospitality industry forward and cater for a new generation of
guests. This pioneering company has now taken another big stride into the future by becoming one of the first
hotel groups in the world to start accepting cryptocurrencies as payment.

S Hotels & Resorts has announced a ground-breaking new partnership with FTX, a leading cryptocurrency
trading platform, to enable its customers to book and pay for their stays using virtual online currencies.
Initially, S Hotels & Resorts’ two award-winning properties in the Maldives – SAii Lagoon Maldives and Hard
Rock Hotel Maldives – will welcome cryptocurrencies from 1 st October 2021, becoming the first resorts in the
country to do so.

Nestled in the idyllic Kaafu Atoll, SAii Lagoon Maldives is a tropical lifestyle retreat for millennially-minded
guests, and Hard Rock Hotel Maldives is the iconic music-themed brand’s first Maldivian property. Both resorts
were honoured in the Luxury Lifestyle Awards 2021. They form part of CROSSROADS Maldives, a breath-taking
integrated resort that features a wealth of world-class facilities, including diverse dining, wellness, water
sports, diving, eco-sensitive excursions, oceanfront events and more.

As the first resorts in the Maldives to accept cryptocurrencies, SAii Lagoon Maldives and Hard Rock Hotel
Maldives are creating fresh opportunities for forward-thinking guests to book their festive holidays in the
Maldives, which is fully open for international travel. Vacations at these two world-class resorts can be paid for
in USD Coins (USDC) and Tether tokens (USDT), with more cryptocurrencies expected to be added in future.
Bookings must be made directly with each property’s reservations department: rsvn.lagoon@saiiresorts.com
for SAii Lagoon Maldives and rsvn@hrhmaldives.com for Hard Rock Hotel Maldives. Payments can be arranged
securely, from anywhere in the world.

There benefits of cryptocurrencies are manifold; they will expand the number of payment options offered by S
Hotels & Resorts, targeting new and potentially untapped sectors of the market, while helping hotels to drive a
greater number of direct bookings. They will also appeal to a new wave of Gen Y and Gen Z consumers, who
operate in the online space and appreciate the convenience of virtual transactions.

“At S Hotels & Resorts, we are constantly seeking new ways to connect with our customers and remove
barriers to travel. We fully understand that in today’s world, an increasing number of consumers are turning to
cryptocurrencies as a secure and stress-free way of paying for goods and services. As an innovator in the
hospitality space, we are excited to start working with FTX and enable virtual currencies at our two resorts in
the Maldives. We hope to expand this partnership to even more of our award-winning hotels and resorts
around the world in future,” said Dirk De Cuyper, Chief Executive Officer, S Hotels & Resorts.

“Looking ahead, we will continue to roll out new and flexible solutions that enhance all aspects of our guest
journey, from planning, payment and booking to in-stay experiences, bespoke services, community activities
and more. We want to become the hospitality provider of choice for a new generation of customers,” Mr. De
Cuyper added.

Founded in 2018, FTX is a global cryptocurrency exchange that has partnered with a wide range of leading
virtual currency firms, including Circle, Sequoia and Paxos, among others. It is also a responsible company,
having donated more than US$10 million to charities in the last three years. This perfectly aligns it with S
Hotels & Resorts’ own extensive CSR commitments.

S Hotels & Resorts joins a growing number of cutting-edge companies that now accept cryptocurrencies as a
payment option, including Microsoft, Rakuten, AT&T, Twitch and Virgin Galactic.

To learn more about S Hotels & Resorts, please visit www.shotelsresorts.com or follow them on Facebook,
InstagramYouTube or LinkedIn.

S Hotels and Resorts Public Company Limited, the hospitality arm of Singha Estate Public Company Limited, is a fast-
growing, Thai-inspired company with an extensive international portfolio and world-class standards. Specialising in the
management and investment of high-quality hotels and resorts in desirable destinations across the globe, S Hotels &
Resorts has created a collection of its own distinctive lifestyle brands, whilst also partnering with the hospitality industry’s leading names. The company aims to set new standards for leisure and lifestyle through diversified business platforms and to enhance value for all its stakeholders based upon a philosophy of sustainable development and delivering benefits to local communities. To learn more, please visit www.shotelsresorts.com or follow us on Facebook, InstagramYouTube or LinkedIn.

For more information and high-resolution images, contact:

Lalita Somboonsuk (Ta)
Corporate Marketing Communications Manager
S Hotels & Resorts | Singha Estate PCL
Tel: +66 (0) 2058-9888 ext. 320
E-mail: lalita.s@shotelsresorts.com
Website: www.shotelsresorts.com

David Johnson
CEO, Delivering Asia Communications
Tel: +66 (0) 2246 1159
E-mail: dj@deliveringasia.com
Website: www.delivering.asia