Midwest - Minneapolis Graves 601 Hotel launches bidding program

Graves World Hospitality is allowing consumers to bid on how much they’d be willing pay for a stay at the Graves 601 Hotel in downtown Minneapolis as part of a program launched this month.

The company has been testing the bidding feature, dubbed “place a bid!,” at its Graves 601 Hotel Web site for about a week and half. It’s accepted about 49 percent of submitted bids. Graves World plans to roll out the option at its other properties in the near future.

The program distinguishes itself from other third-party bidding sites, such as Priceline.com, in that it allows consumers to pick a specific hotel, said Graves.

Rates for rooms at Graves 601 run from about $149 to $350 per night. So far, some bidders have received discounts of up to 25 percent, Graves said. However, in a trade off, bidders must pay for room nights up front, rather than simply reserve a room and pay later.

http://www.bizjournals.com/twincities/stories/2009/05/25/daily3.html?ana=from_rss

I just got my bid approved today. The current room rate per night (via advance purchase offer) right now is 135.15/night (2x) at $308.82ai incl tax for two nights. I got my bid for $105.20/night approved. After tax, the cost AI that was charged to my CC was $238.58, a savings of $70.54

I really like this idea. ^ Looking forward to staying at the Graves 601 for my second time! Going to be staying there over Thanksgiving weekend to get out of St Cloud for the that weekend and also "Black Friday" it and see the opening night of Holidazzle parade. ^^

Graves World Hospitality is allowing consumers to bid on how much they’d be willing pay for a stay at the Graves 601 Hotel in downtown Minneapolis as part of a program launched this month.

The company has been testing the bidding feature, dubbed “place a bid!,” at its Graves 601 Hotel Web site for about a week and half. It’s accepted about 49 percent of submitted bids. Graves World plans to roll out the option at its other properties in the near future.

The program distinguishes itself from other third-party bidding sites, such as Priceline.com, in that it allows consumers to pick a specific hotel, said Graves.

Rates for rooms at Graves 601 run from about $149 to $350 per night. So far, some bidders have received discounts of up to 25 percent, Graves said. However, in a trade off, bidders must pay for room nights up front, rather than simply reserve a room and pay later.

http://www.bizjournals.com/twincities/stories/2009/05/25/daily3.html?ana=from_rss