Consumers set the price that they want to pay for a hotel stay by "making an offer" on a new free-of-charge website, OnlyBidding.com, receiving instant confirmation. The first step is to search for a hotel by entering destination and dates, and choose a room type and board type. Next, the user makes an offer and this offer will be accepted, or rejected, instantly.
Only Bidding says it has rooms at more than 95,000 hotels from around the world for customers to make an offer for, depending on availability. It describes itself the world’s first online bidding system for hotel rooms. The new concept is based on the fact that unoccupied hotel rooms are lost revenue.
[pictured: Vienna International Magic Circus Hotel, near Disneyland Resort Paris, recently featured on the Only Bidding site]