jeffersonkim (OP)
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June 15, 2011, 04:14:35 PM |
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I run hojomaingate.com and redroofbp.com
I'm trying to get a sense if I want to accept BitCoins.
Would people be interested in doing something like this?
And if I did, I'd have to do a 20% markup on the exchange rate to make due to the fluctuating nature of the coin, not to mention, I'd have to somehow convince the owner on this.
How do you think something like this could work (or wouldn't work)?
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qwk
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June 15, 2011, 05:32:56 PM |
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Good question. Being in the tourism industry as well, i too am curious what people think about it. But the practical issues first: Would you require prepayment for a booking or would it be ok to pay on check-out? With the value of bitcoins rising quite steadily at the moment, that would make a huge difference if you booked a room, let's say, 2 weeks in advance  Also, with no acceptance by any of the regular travel agents / distribution channels, how would you lead people to your offer? It's not like the usual traveller picked a hotel based on the methods of payment they accept. Of course, if you had a really nice all-inclusive-package on Hawaii (or even better the Caymans), probably some of the bitcoin-have-mores might be glad to spend some of their coins without the hassle of a btc-usd conversion... |
Yeah, well, I'm gonna go build my own blockchain. With blackjack and hookers! In fact forget the blockchain.
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torusJKL
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June 15, 2011, 05:57:31 PM |
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If the Bitcoin price is calculated against a currency like USD, EUR, CHF, GBP I would be ok to pay on checkout.
I have no problem paying in advance (again if Bitcoin is paired with other currency).
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jeffersonkim (OP)
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June 15, 2011, 07:27:05 PM |
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Yeah, essentially someone would need to create a bitcoin hotels.com sort of website.
But this would require tons of work and buy in from multiple hotels.
The reservation status would be equivalent to accepting cash. Reservations would only be held if paid in advance.
Credit cards are nice because they "hold" the room without actually charging it, and you don't need to worry too much if you need to cancel. Whereas bitcoins would need to be refunded, and there are transaction fees associated.
Due to the "cash" equivalency of bitcoin, I think this may not work very well unless you're used to having no reservations, and just walking into a hotel. For most travelers, this is too risky because the hotel may easily be sold out.
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Rassah
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June 15, 2011, 07:39:59 PM |
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Let's see... Would I be willing to pay for a hotel room with BTC directly from my Bitcoin travel fund, instead of paying for the room with a credit card, and then going through the trouble of selling BTC from my vacation savings account to pay back that credit card? Um, YES!
P.S. Yes, I know, I'm crazy to use Bitcoin as my main savings account for short-term (bi/tri-annual) travel expenses
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nhodges
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June 15, 2011, 07:45:32 PM |
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I would definitely stay in a BTC accepting hotel, and I believe an increased rate of %20 is fair to the hotel owner/operators.
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sudzandbudz
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June 15, 2011, 08:43:16 PM |
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Personally, I'd really weigh how much time, effort and money is involved. You don't want to spend a ton of time and money on something that only a handful of people will use. I think it will be quite a while before paying for things like a hotel via bitcoin will be popular - if you're into being a trendsetter then by all means - go for it :-)
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Bimmerhead
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June 15, 2011, 08:47:45 PM |
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I think it is a good idea, one that could generate a lot of free publicity for the properties involved.
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jeffersonkim (OP)
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June 15, 2011, 08:50:51 PM |
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Yeah, I probably wouldn't start start something big. As soon as I white-listed, I can post in the marketplace and see what the interest is.
The problem is that this would be limited to mainly people who want to travel to Disneyland.
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bruteoger
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June 15, 2011, 08:53:50 PM |
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Of course, was planning to go to hawaii next summer and if this can be set up i'd like to be able to pay at least part of the bill in bitcoins or more easily all.
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ChanneledDan
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June 15, 2011, 09:00:08 PM |
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Paying using BTC would be great. The only issue, as mentioned, is the fluctuating value of BTC. You could offer a discount on pre-paying with bitcoins and charge full price (+ markup maybe) if paying at check out.
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goldeneagle
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June 15, 2011, 09:03:13 PM |
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I am not sure how that would work. I would want to pay on checkout but what protects the property owner from me skipping out or damages and room charges? Hmmm I love the idea but I think it needs more work.
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frutza
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June 15, 2011, 10:29:23 PM |
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I would have no problem staying at a hotel that accept bitcoins  |
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jeffersonkim (OP)
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June 15, 2011, 11:14:51 PM |
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