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More corps. partaking in online hotel auctions.

Publication: Business Travel News
Publication Date: 11-AUG-03 		Format: Online - approximately 1205 words
Delivery: Immediate Online Access

Article Excerpt
After experimenting tentatively with reverse online auction technology during the past few years, travel managers at Xerox, Lockheed Martin, Dell and Hewlett-Packard this year are using the technique to negotiate for a more significant portion of their 2004 hotel programs.

For as much time and money that such auctions may save, however, none of these buyers views it as a sure thing. In each case, they are aware of the tools' limitations and do not foresee them fully replacing the traditional request for proposals process. They also do not anticipate using auctions for their entire programs any time soon. Yet, they described the rate reductions they have received up to now as "substantial."

"For 2004, we're going to double, the number of reverse auctions we conduct to roughly 25. This does not necessarily mean 25 cities, since in certain markets we plan to do auctions for both full service and limited service properties," said Tracey Wilt, Xerox purchasing consultant for travel and meeting services.

In a reverse auction, select hotels in a market are invited to bid prices down...

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