Kaliningrad Hotels to Accept Bitcoin During 2018 FIFA World Cup
CryptoBit News Today2 min read
Several major hotels in Kaliningrad, Russia, will begin accepting bitcoin for payments ahead of the 2018 FIFA World Cup, the city's tourism office has announced. The move aims to streamline payments for the expected influx of international visitors, including many cryptocurrency enthusiasts. ## Multiple Establishments on Board
Several mid-tier to luxury hotels, including Park Inn by Radisson Kaliningrad and the Crowne Plaza Kaliningrad City Centre, have committed to installing bitcoin payment systems. The Grand Hotel Kaliningrad and Azimut Hotel Kaliningrad, among others, plan to follow suit.
"I think it's fair to say that we're very excited about this," said Natalia Petrovna, spokeswoman for the Kaliningrad Tourism Bureau. "We think that the combination of hosting the World Cup and introducing easy bitcoin payments will be a big draw for tourists."
Petrovna expects a notable increase in foreign cryptocurrency enthusiasts to visit Kaliningrad. For them, being able to pay in a currency they are comfortable with will encourage them to stay longer and spend more. ## Implications for View
Though the news was welcomed by most participants, some still do not believe the benefits outweigh the costs of making the necessary infrastructure upgrades. "I am skeptical about the idea," said Boris Vasiliev, a local taxi driver. "Where I come from, you manage entirely with cash. And we have already suffered losses due to currency fluctuations in the past. I do not think the upfront costs will pay for themselves for us."
Despite this, a sharp drop in bitcoin prices a week after the announcement failed to derail the plan, with both hoteliers and tour guides reporting that they plan to proceed as scheduled.
Given that Russia has historically had a flirtation with cryptocurrency, despite its current legal standing, its decision is not entirely surprising.
The Bitcoin payment program is expected to go live in December, with residents receiving introductory discounts for participating in the pilot. Elderly residents say they are likely to resist, however, since many are still not comfortable with technology.
"We hate this. We are fine with cash or credit. We are not young anymore, and I am not interested in learning how to do this bitcoin thing," said Marina Petrovich, a retired teacher. "It doesn't matter if they give us a discount. At my age, I appreciate my peace of mind."
For visitors, however, it is a different story. For them, being able to pay in a currency they are comfortable with will encourage us to stay longer and spend more, meaning more tourists, and hopefully a boost to the local economy.
