{"id":22687,"date":"2020-04-13T15:18:39","date_gmt":"2020-04-13T15:18:39","guid":{"rendered":"https:\/\/www.xotels.com\/uncategorized\/reverse-auction\/"},"modified":"2024-12-23T09:21:15","modified_gmt":"2024-12-23T09:21:15","slug":"reverse-auction","status":"publish","type":"post","link":"https:\/\/www.xotels.com\/en\/glossary\/reverse-auction","title":{"rendered":"Reverse Auction"},"content":{"rendered":"<p><strong>What is the meaning \/ definition of Reverse Auction in the <a href=\"\/en\/glossary\/hospitality-industry\">hospitality industry<\/a>?<\/strong><\/p>\n<p>The term\u00a0<a class=\"glossary-only-link\" href=\"https:\/\/www.xotels.com\/en\/glossary\/reverse-auction\">Reverse Auction<\/a>, refers to an\u00a0<a class=\"glossary-only-link\" href=\"https:\/\/www.xotels.com\/en\/glossary\/auction-site\">auction<\/a>\u00a0at which the buyer bids for a room offered by the seller. This is the opposite of a traditional\u00a0<a class=\"glossary-only-link\" href=\"https:\/\/www.xotels.com\/en\/glossary\/auction-site\">auction<\/a>\u00a0at which the seller takes bids from buyers to increase the price of the good or service.<\/p>\n<p>For hotels this allows the sale of\u00a0<a class=\"glossary-only-link\" href=\"https:\/\/www.xotels.com\/en\/glossary\/distressed-inventory\">distressed inventory<\/a>\u00a0to guests searching for a night\u00a0<a class=\"glossary-only-link\" href=\"https:\/\/www.xotels.com\/en\/glossary\/stay\">stay<\/a>. Due to the nature of auctions, the guest can bid up to the amount he\/she would like to pay \u2013 and the\u00a0<a class=\"glossary-only-link\" href=\"https:\/\/www.xotels.com\/en\/glossary\/hotel\">hotel<\/a>\u00a0only accepts the bids it would like to accept. By doing so both side are satisfied \u2013 the\u00a0<a class=\"glossary-only-link\" href=\"https:\/\/www.xotels.com\/en\/glossary\/hotel\">hotel<\/a>\u00a0is able to get rid of rooms it couldn\u2019t through its normal\u00a0<a class=\"glossary-only-link\" href=\"https:\/\/www.xotels.com\/en\/glossary\/channels\">channels<\/a>\u00a0\u2013 thereby not occurring a loss, and the guest is able to get a room for a fair price.<\/p>\n<p>Hotels hold reverse auctions because of the highly competitive hotel market. This is commonly done to compete against online travel agencies and other hotels in the area. Often competing hotels and travel agencies list their prices lower or the same as the first hotel in order to persuade guests to book with them. Overtime, hotels in the surrounding area slowly lower their prices in order to gain customers. As a result, this negatively affects the profit margins for hotels.<\/p>\n<p>One solution to this is to ensure that a hotels website has the lowest price and to offers a price-match guarantee. This will encourage customers to book with their hotel, over online travel agencies.<\/p>\n<p><strong>See also:<\/strong><\/p>\n<ul>\n<li>Rack Rate<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>What is the meaning \/ definition of Reverse Auction 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":[9,47],"tags":[],"class_list":["post-22687","post","type-post","status-publish","format-standard","hentry","category-glossary","category-r"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Reverse Auction Definition \/ Meaning - Xotels<\/title>\n<meta name=\"description\" content=\"Definition: The term Reverse Auction, refers to an auction at which the buyer bids for a room offered by the seller. This is the opposite of a traditional auction at which the seller takes bids from buyers to increase the price of the good or service.\" \/>\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\/reverse-auction\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Reverse Auction Definition \/ Meaning - Xotels\" \/>\n<meta property=\"og:description\" content=\"Definition: The term Reverse Auction, refers to an auction at which the buyer bids for a room offered by the seller. 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