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

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The company decided to offer the bidding optiojn in order to lure consumers who have been shyint awayfrom high-end hotel stays during the The bidding option allows the hotel to pick up cost-consciouse customers, while at the same time avoiding havingg to “erode” rates, said Ben Graves, president of Minneapolis-based Graves World Hospitality. The compan y has been testing thebidding feature, dubbeed “place a bid!,” at its Graves 601 Hotel Web site for abouyt a week and half. It’s accepted abouf 49 percent ofsubmitted bids. Graves World planxs to roll out the option at its other propertiees in thenear future.
The program distinguishes itself fromothet third-party bidding sites, such as Priceline.com, in that it allow consumers to pick a specific hotel, said Rates for rooms at Graves 601 run from about $149 to $350 per So far, some bidders have received discounts of up to 25 Graves said. However, in a trade off, bidderds must pay for room nights up rather than simply reserve a room andpay later. Grave World developed the technology in partnership withNew York-base , a firm that markets reservation-bookin systems to hotels. Graves World plans to promots the bidding feature through an online advertising campaign.