Graves 601 Hotel launches bidding program - Minneapolis / St. Paul Business Journal:

http://www.kwbf.info/employer.html
The company decided to offer the bidding option in ordert to lure consumers who have been shyinb awayfrom high-end hotel stays during the recession. The bidding option allows the hotel to pickup cost-conscious while at the same time avoiding having to “erode” rates, said Ben president of Minneapolis-based Graves World Hospitality. The company has been testing thebiddinbg feature, dubbed “place a bid!,” at its Graves 601 Hotel Web site for about a week and half. It’sx accepted about 49 percent ofsubmitted bids. Grave World plans to roll out the option at its other properties in thenear future.
The programn distinguishes itself fromother third-party bidding such as Priceline.com, in that it allows consumers to pick a specificv hotel, said Graves. Rates for rooms at Grave 601 run fromabout $149 to $350 per night. So far, some bidderse have received discounts of up to 25 Graves said. However, in a tradd off, bidders must pay for room nightdsup front, rather than simplyu reserve a room and pay later. Gravea World developed the technology in partnership withNew York-basedx , a firm that markets reservation-bookinv systems to hotels. Graves World plans to promote the biddintg feature through an onlineadvertisinh campaign.