1. Research reverse travel auctions' history The travel category : most successful reverse auctions via internet website like lastminute.com It uses well-known airlines brand, with high value, and significant savings. It is easy to deliver the products (tickets), the article is perishable and there is over supply
2. Profile how they work, in general A. Company select a generic category like a week end in New York B. the generic category is negotiated with suppliers who would be interested in selling to website customers (ex : Priceline's customers) C. the website makes some restrictions on product and buyers to give more flexibility to the suppliers
3. Choose a reverse auction site - profile the types of hotels you found on the site I choose www.priceline.com You have hotel in US, Canada, Europe, Caribbean, Mexico, Asia You have a huge choice in Hotel Brand like Marriott, Crowne plaza from 1 to 5 stars hotels.
4. Research sites that give customers advice on using reverse auctions
5. List the key points Business Bids Marketing Reverse auctions Lowest price
6. Conclusion - how can a hotel best participate in a reverse auction site, if at all. With a good marketing approach With a good knowledge of how the reverse auction works By fishing plenty of bids to create a real financial gains