Reverse Auction Sites
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Reverse Auction Sites Presentation Transcript

  • 1. Reverse Auction Sites
  • 2. Reverse travel auctions’ history
    Reverse auction appears in the late 1990’s thanks to the development of Internet-based online auction tools.
    The first website company, which have launched this principle, is Freemarkets, founded in 1995.
    The principle is that suppliers bid against each other to offer the lowest price.
    Regarding reverse travel auctions, priceline. com was one of the first to use this process for travels in 1998.
  • 3. How it works
    The principle is that web surfers determine the price that they are willing to pay for a product, and then the website displays the hotels’ proposals which meet the expectations of the clients.
    Since the clients have not paid, the hotel’s name doesn’t appear.
  • 4. Site: www.priceline.com
    An example of these reverse travel auction website is
    priceline. The principle is the same as we have described
    before.
    Firstly, clients choose in which type of hotels (stars, preferences…) and where they would like to go.
    Then, they determine the rate that they are willing to pay
    The clients have to pay before knowing the name of the hotels.
    Finally, The website chooses them a hotel which correspond to their criteria
  • 5. Partner hotels
    The site offers a wide choice: from 2-star to 5-star hotels.
    Famous International Hotels chains are presents like Hilton, Best Western, Intercontinental Hotel Group, etc
    But also individual or boutique hotels are presents .
    Location in famous cities
  • 6. Advice to use Reverse travel auction sites
    www.priceline.com
    www.zujireverseauction.com
    www.oltiby.com
    www.reverseauction.com
  • 7. Key points
    To use reverse travel auction, clients have just to follow the step of the websites (fill a form and give a price).
    Clients have to trust in this process as the hotel’s name is shown after the payment.
  • 8. Conclusion
    It is a good way for hotels to sell rooms inventories
    Clients should be careful of not paying additional fees. Otherwise, the travel may cost more expensive than foreseen.
    It can be harmful to the image of a luxury brand to appear on this kind of websites.