{"id":22456,"date":"2020-04-07T09:49:21","date_gmt":"2020-04-07T09:49:21","guid":{"rendered":"https:\/\/www.xotels.com\/uncategorized\/auction-site\/"},"modified":"2024-12-23T09:22:12","modified_gmt":"2024-12-23T09:22:12","slug":"auction-site","status":"publish","type":"post","link":"https:\/\/www.xotels.com\/en\/glossary\/auction-site","title":{"rendered":"Auction Site"},"content":{"rendered":"<p>What is the meaning \/ definition of Auction Site in the <a class=\"glossary-only-link\" href=\"https:\/\/www.xotels.com\/en\/glossary\/hospitality-industry\">hospitality industry<\/a>?<\/p>\n<p>A auction site is a website, where the price of a product or service is determined by the winning bid. The auction site allows the user to name their own price for any posted products or services within a certain time frame. The price rises depending on the bidding people. The person who bid with the highest price within the set time frame will be the winner.<\/p>\n<p>This tool is often used by <a class=\"glossary-only-link\" href=\"https:\/\/www.xotels.com\/en\/glossary\/hotel\">Hotel<\/a> Revenue Managers to sell unsold <a class=\"glossary-only-link\" href=\"https:\/\/www.xotels.com\/en\/glossary\/inventory\">inventory<\/a> at a lower price, in an opaque way.<\/p>\n<p>Examples for an auction site are: Ebay, Name Your Own Price (Priceline), Hotwire, eBid, Webstore.<\/p>\n<p>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 <a class=\"glossary-only-link\" href=\"https:\/\/www.xotels.com\/en\/glossary\/property\">property<\/a> are willing to let rooms sell at a much lower rate.<\/p>\n<p><strong>See also:<\/strong><\/p>\n<ul>\n<li><a class=\"glossary-only-link\" href=\"https:\/\/www.xotels.com\/en\/glossary\/ota\">OTA<\/a><\/li>\n<li>Opaque <a class=\"glossary-only-link\" href=\"https:\/\/www.xotels.com\/en\/glossary\/rate-fences\">Fences<\/a><\/li>\n<\/ul>\n<p><strong>Synonyms<\/strong><\/p>\n<ul>\n<li>Auction Site<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>What is the meaning \/ definition of Auction Site in  [&#8230;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[32,9],"tags":[],"class_list":["post-22456","post","type-post","status-publish","format-standard","hentry","category-a","category-glossary"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Auction Site Definition \/ Meaning - Xotels<\/title>\n<meta name=\"description\" content=\"Definition: A auction site is a website, where the price of a product or service is determined by the winning bid.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.xotels.com\/en\/glossary\/auction-site\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Auction Site Definition \/ Meaning - Xotels\" \/>\n<meta property=\"og:description\" content=\"Definition: A auction site is a website, where the price of a product or service is determined by the winning bid.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.xotels.com\/en\/glossary\/auction-site\" \/>\n<meta property=\"og:site_name\" content=\"Xotels\" \/>\n<meta property=\"article:published_time\" content=\"2020-04-07T09:49:21+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-12-23T09:22:12+00:00\" \/>\n<meta name=\"author\" content=\"Patrick Landman\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@xotels\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Patrick Landman\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":[\"Article\",\"BlogPosting\"],\"@id\":\"https:\\\/\\\/www.xotels.com\\\/en\\\/glossary\\\/auction-site#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.xotels.com\\\/en\\\/glossary\\\/auction-site\"},\"author\":{\"name\":\"Patrick Landman\",\"@id\":\"https:\\\/\\\/www.xotels.com\\\/en\\\/#\\\/schema\\\/person\\\/f51e882bd553ae1b905fc0214cdca6f5\"},\"headline\":\"Auction Site\",\"datePublished\":\"2020-04-07T09:49:21+00:00\",\"dateModified\":\"2024-12-23T09:22:12+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.xotels.com\\\/en\\\/glossary\\\/auction-site\"},\"wordCount\":183,\"publisher\":{\"@id\":\"https:\\\/\\\/www.xotels.com\\\/en\\\/#organization\"},\"articleSection\":[\"A\",\"Hotel Terminology &amp; 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