Hotwire Hotel: 4.5* Chicago (Magnificent Mile-Streeterville) InterContinental

[tkpaul]

My wife and I are traveling to Chicago 8/1 - 8/4. We have a cancellable room now ($25 cxl chg). My primary question is the old "bird in the hand" scenario. I know the "what if" scenario is impossible to answer, but I'm looking for a best guess on pricing at this point. Ultimately, do I wait a little longer and continue to bid Priceline and watch Hotwire, or do I pull the trigger now. See details on current pricing below.

That weekend is unfortunately the weekend of Lollapalooza in Grant Park in Chicago. Our plan is to focus on 4* plus in the North Mich. Avenue area, thinking the young folks will look to stay in the Loop or close to Grant Park in more affordable (lower * levels). The thought is that the demand for NMA 4* plus will be less than south of the river (all other things equal). Good plan??

Here are my 3 options, as I see them. Which one is the best strategy in your opinion? (ThereUAre & AaronJB)

1) Buy the following, which is now available on Hotwire (2 people; 8/1 - 8/4) for $219/night - 4.5 * Magnificent Mile - Streeterville - Fitness, Pool, Rest., Bus. Center, High Spd Internet; Customer Favorite; 4/5 rating on TripAdvisor. I believe this is a match for InterContinental or Hilton Conrad. Rates per the web are $284 InterCont.& $277 for Conrad. If the TripAdvisor rating is an indicator, it's Conrad, not InterContinental. OR

2) Split the stay to save a few more dollars. A) Buy on Hotwire (2 people; 8/2 - 8/4) for $183/night - 4.5* (same as above) Magnificent Mile - Streeterville - Fitness, Pool, Rest., Bus. Center, High Spd Internet; Customer Favorite; 4/5 rating on TripAdvisor; and :) Buy on Hotwire (2 people; 8/1 - 8/2) for $233/night - 4* North Mich. Avenue - Water Tower- Gold Coast - Boutique, Fitness, Rest., Bus. Center, High Spd Internet; 4/5 rating on TripAdvisor. I believe this is a match for The Raffaello Hotel. (This B option would cost the same $233 if booked for all 3 nights; Hotel A drops from $219 to $183 if I drop of the first night). OR

3) Wait and continue to bid PriceLine and monitor Hotwire offers. I have been bidding Priceline permutations for NMA with 3 free rebid zones up to $140 (+$10 bonus; total of $150) for the last few weeks. Last night was the last time I bid.

My thought is that the availability and pricing could change soon as some hotels wait until the last 2 weeks before a date to offer to Hotwire/PL or to drop prices. Your thoughts?

Thanks for your help!

[AaronJB]

Traditionally, Lollapalooza has resulted in hotels being taken up not only in the Loop, but in the North Michigan Ave. area, too. I've tried to help people in the past find last-minute hotels for this particular weekend, and they paid quite a bit for being late to book. The last couple of years, by Lollapalooza weekend, there wasn't a whole lot of hotels left to choose from.

Now, this year people are dealing with higher oil prices and much higher plane tickets (not to mention a weaker economy) and I do have to wonder if it will be the same this year - will people want to not only buy outrageously expensive (in some cases) plane tickets, but buy expensive concert tickets? I don't see it happening, but I could be wrong. Additionally, hotel prices in Chicago have come down - on most dates, at least - a good deal. I'm not saying that there won't be Lollapalooza crowds this year, but again, I have to wonder if people are going to want to drop a lot of money on tickets and then drop a lot more money to just get there.

I wouldn't put my hopes on the prices for this particular weekend going down much. The prices could drop mildly and still be in-line with an average day in the city in the Summer where nothing big is going on. While Lollapalooza may not be as full as previous years, that is still going to create some sort of added crowd for hotels.

What is the price of your cancelable room?

The fact that you are not getting accepted at $150 would lead me to believe that there's not much in the way of inventory, given that I'm seeing common Priceline hotels as low as $206 (Wyndham). 4*'s are generally $200-275 +/-. The smaller-than-normal spreads between Hotwire and regular rates would also lead me to believe that hotels are under the belief (right or wrong) that there will be more demand for these dates.

I'm always one for saving, and I think splitting a stay in Chicago really isn't that bad. The 4.5* Hotwire that's $183 for the second two nights is likely the Intercontinental. The Wyndham is $242.5 non-refundable for the first night on Orbitz. Use coupon code SUMMERFAM for 10% off the Wyndham on Orbitz = $218.25 + $183 + $183 = $584.75/3 = $194.75.

The Wyndham is only about 3 short blocks from the Intercontinental.

Or, if you wanted to "upgrade", the Sutton Place is on sale for $256 on Orbitz for the first night. 256 - 10 % = $230.40 + $183 + $183 = $596.4/3 = $198.80. The only issue here is that Sutton would be a longer walk from the Intercontinental, but again, nothing terrible (maybe a 15 minute walk at most.)

For all three nights together, the deal that I like is this one via Starwood Hotels for Stay 2 nights, Get 1 free:

Stay 2 nights, get 1 free

You can get the Westin River North - what I consider to be the nicest S'wood property in the city - for $329 for 2 nights, third night free = $329x2 - $658/3 = $219.33

[thereuare]

What is the price of your cancelable room?

This was my question too... and also, what is the back-up hotel?

This will allow us to better evaluate the above deals relative to what you have already booked.

Please use these PRICELINE and HOTWIRE links to begin your travel purchases.

[tkpaul]

You guys are awesome.

I pulled the trigger today, and did so as you suggested. Please update the header of the post, or move to new post, as appropriate to reflect the win.

First, the win: InterContinental Chicago (8/2 - 8/4) for $183/night - 4.5* Magnificent Mile - Streeterville - Fitness, Pool, Rest., Bus. Center, High Spd Internet; Customer Favorite; 4/5 rating on TripAdvisor. Came through just like you said.

For the first night (8/1 - 8/2), I booked the Wyndham for $218.25 on Orbitz using coupon code SUMMERFAM.

My cancelable room was Comfort Inn & Suites - $265 - King/suite through Hotrooms.com (hotel gave a special deal through hotrooms operator since they were out of the regular King rooms). I had to pay $25 to cancel.

Thank you again for your help. You helped me put this to rest so now I can get on with researching things to do and places to eat for our trip.

[thereuare]

Congratulations on your success!

Glad to hear this went well and you have firmed up your hotel arrangements for this stay (nice job AaronJB :) )

Thank you for sharing your results with the board.

Please use these PRICELINE and HOTWIRE links to begin your travel purchases.

Enjoy your stay.

[AaronJB]

I do like the Intercontinental a lot, not only because of the very central location - right on Michigan Ave., down the street from the river - but because of the hotel's rich history. The junior olympic pool was built in 1929 and was one of the first pools built on a higher floor - it was considered a remarkable achievement. The pool area is gorgeous, but the entire hotel is architecturally impressive.

My only recommendation about the Intercontinental is that, if they offer you the chance to upgrade for $50, it's not worth it. The rooms in the newer tower - which is likely where you'll end up - are just fine.

There is a Corner Bakery located just across the street from the Wyndham; great choice for a quick breakfast.