Priceline Hotel: 4* Chicago (Millennium Park-Loop-Grant Park) Blackstone Renaissance

[missparker]

Hello,

I was wondering if there is any advantage or disadvantage to booking hotel rooms more than a month out. I am bidding on a 4 star hotel in the Loop for October 21-23 and so far have been turned down up to $85.00. I realize that there are factors that would change the going rate, but then I wondered if the hotels look at their inventory and make adjustments based on that. Why would a hotel give me a lower price this far out when they can wait and see what's left and then change rates. Anyone have any experiences with this, insights or thoughts?

Thank you

MissP

[AaronJB]

I'd say bidding for next Spring would be too far out, but bidding for October really isn't very far off. The Fall in Chicago can be quite busy with conventions and more reasonable weather, and higher rates definitely are not unusual. Based upon rates I'm seeing, a 4* Loop will likely require at least a $100 bid, and possibly as high as $115-125.

Thank you for using the site's HOTWIRE or PRICELINE links to start your purchases and searches.

[thereuare]

Why would a hotel give me a lower price this far out when they can wait and see what's left and then change rates.

A few reasons why...

Take a simplistic example of a hotel wanting to have the following occupancy given the time before a given date:

50% occupancy 6 months before a given date

75% occupancy 3 months before a given date

90% occupancy one week prior to a date (leaving the 10% for walk-in customers)

Seven months before a stay a hotel is only at 35% occupancy, they may then offer deeply discounted rates (thru PRICELINE / HOTWIRE) in order to get to 50%, then once 50% is achieved, pull any deeply discounted inventory. Then bookings begin to fill up and 3 months before the stay they're at 80% occupancy and therefore don't offer any rooms at a deep discount (since they're ahead of their 75% target), and one week prior they're at 90% occupancy and don't offer any rooms to the opaque providers. Given this example, the only time for a 'deal' was 7 months prior to the stay.

As well, far ahead of a stay a hotel may be willing to offer a discount since the purchase would be non-refundable... that revenue is guaranteed, vs. having multiple refundable reservations on the books, many of which may ultimately get canceled (and if canceled at the last minute then it leaves less time to try to re-sell the room... so a non-refundable reservation is more valuable then a refundable one, especially when there is a lot of time before arrival).

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

[AlexF]

Under $100 in the Loop in Chicago is possible although that is more in the summer. I would keep checking back every week to see if you can get a room for under $100. I've seen rooms this summer that were around $85 in the Loop and on Michigan Avenue.

[legalos.aragon]

You're not alone. I'm trying to book from 10/14 to 10/18, trying to stay 4*, have not gotten anything despite bidding up to $125 in the Loop/River North.

[AaronJB]

You're not alone. I'm trying to book from 10/14 to 10/18, trying to stay 4*, have not gotten anything despite bidding up to $125 in the Loop/River North.

Welcome to Betterbidding. :)

Please start a new thread and we would be happy to help with your upcoming stay.

Thank you for using the site's HOTWIRE or PRICELINE links to start your purchases and searches.

[jaybert]

You're not alone. I'm trying to book from 10/14 to 10/18, trying to stay 4*, have not gotten anything despite bidding up to $125 in the Loop/River North.

i bid 4* 10/28 to 10/30 and ended up with a winning priceline bid at $106 after trying for a few days, going up to $115 the previous couple of days. check my thread

[cheapsk8]

1st bid: $65

2nd bid: $70, added Franklin Park

3rd bid: $75, added Hyde Park

4th bid, $80, added Lincoln Park

5th bid, $85, added Midway

6th bid, $90, added Midway North

7th bid, $95, added Skokie-Niles-Evanston

I never was able to secure a room with these bids. There didn't appear to be any big events on this date. I'll try again maybe once we're within 30 days.

[trflyer]

Over the last few weeks, I have had no luck with this zone/4stars, either. My dates are 9/12-14 and bidding up to $120 with no success.

[thereuare]

trflyer,

Thanks for the failed bid history.

If you'd like help with your own stay feel free to start a NEW TOPIC.

Thanks for using the PRICELINE and HOTWIRE links on the board to begin your bidding, searches and travel purchases.

Good luck.

[cheapsk8]

Rebid again:

1st bid: $85

2nd bid: $90, added Franklin Park

3rd bid: $95, added Hyde Park

4th bid, $100, added Lincoln Park

5th bid, $105, added Midway

I did not secure a room with these bids, either. I might call some of the 4* hotels in the Millenium Park area to find out what their availability is . . .

[AaronJB]

Unfortunately, rates are on the high side for these dates and a winning bid is likely going to take in the $140-160 neighborhood for a 4* - quite possibly moderately higher.

Thank you for using the site's HOTWIRE or PRICELINE links to start your purchases and searches.

[cheapsk8]

Rebid again:

1st bid: $80

2nd bid: $85, added Franklin Park

3rd bid: $90, added Hyde Park

4th bid, $95, added Lincoln Park

5th bid, $100, added Midway

6th bid, $105, added Midway North

7th bid, $110, added Skokie-Niles-Evanston

Failed . . .will try again in a few weeks. Given the lack of a major event on this weekend, I think I can probably find a 3-4* room for $100 somewhere in the Millenium-Loop-Grant or NMA areas. I'm willing to wait to book until I'm 2 days out from my stay. Does this sound reasonable (apart from all the time I'm wasting doing these bids!)?

[thereuare]

Current rates don't suggest "no major event" this weekend... there are two conferences starting on 10/22 totaling about 20K people and this may be inflating rates a bit (there is also a 17K person convention ending on 10/19 and some of these people may stay the weekend of they choose to mix business and pleasure)

Was your $110 bid at the 4* or 3* level?

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

[cheapsk8]

My bid was for 4*. Where do you find a list of events? I looked in my usual places and didn't see any besides the JFA Expo . . .

[thereuare]

If i recall, i think the above came from the Choose Chicago Convention Calendar.

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

[AceMJM]

So Midway North isn't on the pinned list....but is it safe to say there are no 4* choices there?

[Romelle]

So Midway North isn't on the pinned list....but is it safe to say there are no 4* choices there?

When you get on Priceline and go into Chicago for bidding, a check on Midway North shows it only is biddable at the 1* level. That makes it safe to say there are no 4* choices there as of right now.

The pinned list is never a safe indicator.

Romelle

[thereuare]

AceMJM,

The only method which should be used to determine your re-bid zones is outlined here: Priceline Re-Bidding Explained. If you read this previous link and are confused just post back and we'll break it down further for you.

Assuming you're inquiring for your current Priceline Chicago trip, please post any questions you have regarding re-bidding there.

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

[cheapsk8]

I got cold feet about the big conferences being held on my stay dates and rebid again on 4* properties:

1st bid: $100

2nd bid: $105, added Franklin Park

3rd bid: $110, added Hyde Park

4th bid, $115, added Lincoln Park

5th bid, $120, added Midway North

6th bid, $125, added Skokie-Niles-Evanston

7th bid, $130, added Midway (which is the only area that goes up to 3.5*, the rest of the above go up to 3* at the highest)

All bids failed to secure a room for these 2 nights.

As my 7th bid, I considered dropping to 3.5*, but changed my mind when PL said that the average price paid for a 3.5* room was $129/night. They said that the average price for a 4* room was $143. What does this mean, anyway? It's obviously their way of encouraging a $143 bid, but how often is the case that a bid below their "suggestion" is accepted?

[missparker]

I need rooms at this same time in Chicago and have had no luck with the traditional bidding rates so far. I guess I am a bit baffled since last year in July, I was able to get a room at the Hyatt for $45.00 a night and that weekend included The Taste of Chicago, Pitchfork Festival and Eric Clapton's Crossroads concert. This may not quite equal the size of a large convention, but this weekend in October must be a double whammy.

Does anyone know anything about the 3.5 star rated hotels in the Loop - Club Quarters for example?

[AaronJB]

Does anyone know anything about the 3.5 star rated hotels in the Loop - Club Quarters for example?

The 3.5*'s in the Loop area are fine, although I find the 3.5*'s North of the River in the NMA-River North area preferable in terms of location. The 3.5* Allegro and the 3.5* Wyndham Blake in the Millennium-Loop-Grant Park area in the West and South Loop are out of the way in a more business-oriented area and those areas can be very quiet at night.

Rates can vary significantly year/over/year down to day-to-day; bidding is really a case-by-case and Chicago tends to be busy in the Fall with more decent weather.

Thank you for using the site's HOTWIRE or PRICELINE links to start your purchases and searches.

[cheapsk8]

As my 7th bid, I considered dropping to 3.5*, but changed my mind when PL said that the average price paid for a 3.5* room was $129/night. They said that the average price for a 4* room was $143. What does this mean, anyway? It's obviously their way of encouraging a $143 bid, but how often is the case that a bid below their "suggestion" is accepted?

[thereuare]

I need rooms at this same time in Chicago and have had no luck with the traditional bidding rates so far.

Please continue your current Priceline Chicago for questions pertaining to your own stay, and please use the requested PRICELINE and HOTWIRE links on the board to begin your future bidding, searches and travel purchases.

...PL said that the average price paid for a 3.5* room was $129/night. They said that the average price for a 4* room was $143. What does this mean, anyway?

They're letting your know retail rates for these dates, but the information is often inaccurate that we don't suggesting using this information in a bidding strategy.

[cheapsk8]

There is only one 4* hotel in the Millennium-Grant-Loop area currently listed on Hotwire and it's going for $186/night. Their only 3* is going for $138/night (per night for 2 nights w/ 2 adults). Looks like supply indeed is the issue -- no time to waste. I rebid again on 4* properties:

1st bid: $120

2nd bid: $125, added Franklin Park

3rd bid: $130, added Hyde Park

4th bid, $135, added Lincoln Park

5th bid, $140, added Midway North

6th bid, $145, added Skokie-Niles-Evanston

7th bid, $150, added Midway

All bids failed to secure a room for these 2 nights.

I checked more into your Chicago conference site. They show the 17k attendees for the anesthesiology conference paying $250-275/night for 4* hotels. The other conferences show similar rates.

I did see a TravelZoo special for $159, but thought it seemed high at the time. Boy did I lose out!

Since these rates are more than I'm willing to pay, my only next option is to try to book a lesser quality (3.5*) at a lower rate.