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Reverse auction travel sites

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  1. 1. <ul><ul><li>Reverse Travel Auction Sites </li></ul></ul>
  2. 2. <ul><ul><li>Reverse Auction sites became popular at the end of the 90s. </li></ul></ul><ul><ul><li>Free Markets was the first innovative reverse auction site </li></ul></ul>
  3. 3. How does a reverse auction work? <ul><li>The seller specifies a time period during which bets can be submitted </li></ul><ul><li>Each bidder is allowed to submit one bid </li></ul><ul><li>The seller has a secret treshold price below he will not sell the product </li></ul><ul><li>If the consumer had bed more than the treshold price he will be able to purchase the product </li></ul><ul><li>If the consumer had bed less than the treshold price the seller will not sell the product </li></ul>
  4. 4. What kinds of hotels cab you find on <ul><li>Has hotels all over the world </li></ul><ul><li>Has hotels in each categories like for example from 1 to 5 stars, Design or Standard Hotels, Big Chains or independent hotels </li></ul>
  5. 5. Some sites that give you tips for successful reverse auctions <ul><li> . </li></ul><ul><li> </li></ul><ul><li> </li></ul>
  6. 6. How to do a good reverse auction <ul><li>Always get an idea about the fair value of the room cost in the hotel -> look for the best prices on discount travel websites </li></ul><ul><li>Keep in mind the days of the week you want to book -> weekends are more expensive, off-season cheaper than high-season </li></ul><ul><li>Never bid less than 30% of the price that you find on discount travel sites </li></ul>
  7. 7. Should a hotel sell its rooms on a reverse auction site? <ul><li>YES: The hotel can sell its distressed inventory through these kinds of websites. </li></ul><ul><li>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 </li></ul>