What is the meaning / definition of Auction Site in the hospitality industry?
Examples for an auction site are: Ebay, Name Your Own Price (Priceline), Hotwire, eBid, Webstore.
Auction sites like Priceline are able to get the clients a significant discount while not advertising directly the price of any particular hotel. Instead, they let the customer bid on a star-rated range of hotels in a specific area. Hotels which want to fill up their property are willing to let rooms sell at a much lower rate.