Best times and days to place bids?

[mlbreadytogo]

Is one day or time any better than the next for placing a bid? In other words, are there times of day or days or nights of the week when bids are more readily accepted? Are there times NOT to bid? Say, perhaps at day or time when too many others are likely also placing bids. I almost bid in the wee hrs. but wasn't sure anyone would/could at on it.

Thanks for any help!

[yellowdog]

No, everything is about inventory and the price that the revenue manager got loaded into to the PRICELINE database. The hotels don't have diffrent rates loaded for diffrent times at days/days of week you're bidding.

Yellowdog.

[IBDP]

I have always wondered whether there is a certain day of the week when revenue managers load into the system, or change their pricing to the system; or do they just any old time they want, reload or load? Anyone have any thoughts on this?

Regards,

Donna

[dahammer]

since the inventory offered to PRICELINE and HOTWIRE represent room nights that might go unsold through conventional means, I believe that hotel revenue managers change inventory and pricing as required rather than on specific days so as to maximize hotel occupancy. Some folks wait until the last minute to bid in an attempt to grab a great deal, which could result in getting shut out if the hotel fills up with full paying guests. The best rule of thumb is to bid as soon as your plans are firm and don't look back if your bid is accepted, just smile when checking in at the front desk and you've heard that the guest in front of you paid rack rates for the same room type. :)

[mlbreadytogo]

Thanks, Yellowdog. And very good question, Donna! I also wondered this about HOTWIRE. (I have seen a few changes here and there over the past 3 wks. or so. One offer in particular that I almost took disappeared really quick.)

mlb

[AaronJB]

In my opinion, one has to be aware of realistic pricing for a particular area, as profit margins also likely enter into the picture in many instances. For example, if a Chicago 4* property is at $69-79 on HOTWIRE, I know that the potential downside on that price is going to be pretty minor (at best), and that if there's something going on on those days, there's possibly more potential upside to the price than there is downside.

While many people do succeed in waiting until the last minute, I've also seen many instances of people who would have gotten a great price but decided to wait until closer to their date, and then they have a big surprise when prices went far higher during the time they were waiting.