If the HOTWIRE rate is a significant discount you may want to move forward, as the other option you didn't mention above is that the hotel disappears from HOTWIRE (and not offered thru PL or HW).
If the current savings is small then there is not as much risk in waiting and hoping to see if the price drops or if it appears thru PRICELINE EXPRESS, but holding out for a specific price you have seen/paid in the past may not necessarily be relevant since rates are date specific. For example, if in the past retail rates for this hotel were $200/nite and you picked it up for $100/nite, that is irrelevant if current retail rates are $400/nite.
Please remember to return to BetterBidding and use the PRICELINE and HOTWIRE links on the board to begin your travel purchases... or thru our sister site MAPSandHOTELS.com for your regular rate purchases.
Keep us updated on your progress or let us know if we can be of further help along the way.