PERTH hotel The Lovat has revealed it will shortly begin accepting a new cryptocurrency as payment from customers.

The hotel is said to have become the first official partner of Incognito, a cryptocurrency launched earlier this year by a University of Strathclyde graduate.

The move comes after owner Alfredo Alongi discovered that he traded in the same crytocurrency as a hotel guest. And the operator, who relaunched the hotel after it was closed by its previous management in January, believes the currency can benefit the hospitality industry by removing third parties from the booking process. He said: “Cryptocurrency has the potential to boost direct bookings as the transaction exists purely between the customer and the service provider – there’s no middle man and no additional fees for either party.”