Priceline Hotel: 5 Star hotel on the strip (not Trump) Nov 4th-Nov 8th

[Jetsfan4]

Can you give me an idea of what and where i should bid to get a 5 Star hotel preferably the Wynn or Venetian for the dates listed above. To be honest the only 5 star i don't want is the Trump so if you can tell me how to avoid that i would really appreciate it.

Thanks

[thereuare]

Welcome to BetterBidding!

PRICELINE has recently rezoned the Las Vegas area and the Trump is currently in the Strip North Vicinity zone (NOTE: different than the North Strip zone) so you should be able to avoid this property by not bidding the Strip North Vicinity zone.

Is the North and South Strip both acceptable or only the North Strip zone? So we don't suggest a strategy that goes higher than you're willing to pay, what is your maximum bid for the stay?

Please use the PRICELINE and HOTWIRE links on the board to begin your travel purchases.

Let us know the above and we'll advise accordingly.

[Jetsfan4]

I'm fine with either end of the strip to be honest. I'm also willing to bid $100 dollars or higher but i don't want to if i don't have to. I guess what i'm really interested in is getting an idea of what the price range for this time of the year is so I can bid accordingly. I know that a lot of the hotels have their basic rates listed for those dates because it is a ways off, and that they will probably drop as it gets closer.

[thereuare]

I know that a lot of the hotels have their basic rates listed for those dates because it is a ways off, and that they will probably drop as it gets closer.

Not necessarily... at any point in time, a hotel 'knows' what their occupancy levels should be. So even though this stay is 6 months away, a hotel may believe that they should be at 35% (to pick a number) occupancy. If their occupancy levels around this level, then you'll likely see 'normal' rates... if occupancy is at 25%, then they will adjust rates downward to attract guests... if occupancy is at 40% they may adjust rates higher since they are ahead of projections and would try to bring extra revenue should the trend of higher than expected bookings continue to come in ahead of schedule.

Revenue management software in Vegas is very sophisticated, and it's one of the more volatile hotel markets (in terms of price fluctuations) i the country.

With the above noted, if you're looking at a 5* hotel at either end of the strip, i would think a $90-$110 is about the right price at the moment.

Please use the PRICELINE and HOTWIRE links on the board to begin your travel purchases.

Let us know if/when you move forward and how it goes or if we can be of further help.

[South Bay Mustang]

Is a 40% booking rate considered high in Vegas (or in the industry in general)?

[Jetsfan4]

I just went in with a bid of $100 dollars and they countered with a bid of $166 per night. Now i'm assuming this will be for the Wynn hotel which would be fine except that they are offering regular room rates for the Wynn at $159 per night.

[thereuare]

Is a 40% booking rate considered high in Vegas (or in the industry in general)?

Not sure what you mean by "booking rate", but if you're referring to occupancy levels in my example above, that was just a number chose for the sake of explanation, it wasn't meant to imply that a 40% occupancy rate was high/low and that a hotel would be looking to fill/not fill rooms at that level.

I just went in with a bid of $100 dollars and they countered with a bid of $166 per night. Now i'm assuming this will be for the Wynn hotel which would be fine except that they are offering regular room rates for the Wynn at $159 per night.

What makes you think this is the Wynn vs. any of the other hotel(s) in the zone?

Please use the PRICELINE and HOTWIRE links on the board to begin your travel purchases.