Currency exchange problems in the hotel industry


The hotel business is rising at an exponential rate due to ongoing demand from the client’s end. When you plan for a distant trip, you are most likely to rent a hotel room to ensure your comfort. For instance, you can find decent hotels in Hong Kong just by spending $30. But never expect to get all the premium features in such a low budget. In this article, we are not going to discuss how to find the best hotels in within a tight budget. We are going to highlight the key problems we might face when it comes to currency conversion.

Medium of payment

The first thing that you might face in the budget hotels is the limitations associated with the medium of payments. For instance, you might plan a sudden trip from the USA to Hong Kong. Upon arrival at the hotel, you might face trouble with the payment since the average class hotels don’t accept international cards. The frequent travelers often find it hard to use mighty green bucks since the local currency and cards are the only medium payment in many reputed hotels. Unless you exchange the dollar from a reputed exchange house, you might have a nightmare with your overseas trips. Stop thinking that your credit card will act as a life savior.

Authorize exchange house

Finding an authorize exchange house to pay for your hotel bills might be a great problem in many countries. Though the 5 starts hotels have their own exchange house the exchange fees might be a little bit higher than the traditional exchange house. Exchange the dollar in the overseas is not as easy as Forex trading. Before you check in to a hotel room, make sure you have the money in local currencies. Unless you are willing to spend higher fees at the hotel during the exchange process, it’s always better to rely on the authorize exchange house which you find near the airport terminal.

Increase the expense

Some of you might have enough money to withstand the high exchange fees imposed on travelers by the hotel authorizes. The hotel might accept the mighty U.S dollar as a standard medium of payment. It might sound a perfect solution offered by the hotel administration but if you pay the fees in local currencies you can easily save a huge amount of money. There is no reason to pay such heavy fees when you have the option to save money by exchanging the money from an authorized exchange house.

Billing process

Things might become overly complicated when the hotel authorities deal with any currencies other than their local currencies. Most of the time, it results in delay and the paperwork process is subject to an unexpected error. It’s always better to research payment methods offered at the hotels before you start spending in the U.S dollar. Read some reviews on the hotels and see how they deal with major currencies. Think smart and try to be prepared to face such problems unless you are determined to deal with the local currencies.

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