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Reverseauctionright

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Reverse auction travel sites

Reverse auction travel sites

Published in: Business, Technology

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  • 1.
      • Reverse Travel Auction Sites
  • 2.
      • Reverse Auction sites became popular at the end of the 90s.
      • Free Markets was the first innovative reverse auction site
  • 3. How does a reverse auction work?
    • The seller specifies a time period during which bets can be submitted
    • Each bidder is allowed to submit one bid
    • The seller has a secret treshold price below he will not sell the product
    • If the consumer had bed more than the treshold price he will be able to purchase the product
    • If the consumer had bed less than the treshold price the seller will not sell the product
  • 4. What kinds of hotels cab you find on www.Priceline.com
    • Has hotels all over the world
    • Has hotels in each categories like for example from 1 to 5 stars, Design or Standard Hotels, Big Chains or independent hotels
  • 5. Some sites that give you tips for successful reverse auctions
    • http://www.soulcast.com/post/show/225980/Top-10-things-for-Hotel-room-Reverse-auction-%2F-bidding .
    • http://www.bidontravel.com/hotels.html
    • http://www.free-press-release.com/news/200903/1236321429.html
  • 6. How to do a good reverse auction
    • Always get an idea about the fair value of the room cost in the hotel -> look for the best prices on discount travel websites
    • Keep in mind the days of the week you want to book -> weekends are more expensive, off-season cheaper than high-season
    • Never bid less than 30% of the price that you find on discount travel sites
  • 7. Should a hotel sell its rooms on a reverse auction site?
    • YES: The hotel can sell its distressed inventory through these kinds of websites.
    • NO: The hotel can loose its good image by being present on reverse auction websites -> the customer can consider the hotel as unpopular because it can't sell its rooms at the normal rate