Priceline Hotel: Chicago Loop or NMA 7/25-28

[bcray]

I'm looking to book a hotel at the end of July for my Anniversary. I have read up on the bidding suggestions to get a higher star hotel in the area and at this point have come up without anything. I do not mind to drop down into the 3 star category, but haven't done so yet.

It seems this is a busy time of year to go to Chicago, so I realize the price may be a little higher than I would prefer. My question is, would I be better off to go ahead and try to find a place in the next week or so and maybe pay a little higher than I would prefer, or am I better off to keep trying and wait until mid June to start raising my prices higher? If a lot of people are traveling and hotels start to fill up for those dates, am I likely putting myself in a position where if I wait too long, the rates will be even higher in 3-4 weeks?

Last question, is it worth the travel insurance they offer or should I stay away from that extra $5 per night?

Thanks

[thereuare]

Welcome to BetterBidding!

What failed bid amounts have you made already? What is your target budget (per nite before taxes and fees) for this stay?

As far as insurance, it's a flat $5/nite, so you have to weigh the chances of you likely needing to cash in it for a covered instance. Let's say the room will likely cost $100, do you think there is a 5% chance you would need to cancel for a covered reason? If so, then the insurance is a good bet... if not, then the insurance is a bad bet. If the hotel room is $200/nite you only need a 2.5% likelihood of canceling... if the room is $50/nite you would need a 10% likelihood of needing to cancel (for a reason covered by the insurance policy). That's how i try to evaluate it.

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

[AaronJB]

Definitely read the fine print for the insurance and what it covers. What would be your desired max bid per night?

This is a fairly busy time in Chicago, so you do run the risk of prices possibly heading higher.

[bcray]

So far I've bid in the $115 range. I am guessing that the $140-150 range is more likely for 4 star hotels. I haven't tried much with 3-3.5 stars yet, but am fine with those as well. Any ideas on possible price ranges around that time for 3-4 stars?

I'm able to go higher than 115, but have a little time so wanted to start closer to $100.

[thereuare]

I'd guess $125-$145 for a 4* hotel... $100-$120 for a 3*-3.5*.

Are you familiar with and using your re-bid zones? (see Priceline Re-Bidding Explained, but if you're new to the subject it's highly recommended you confirm your re-bid zones with the board before bidding)

Let us know how you'd like to proceed and we'll take it from there.

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