Does Priceline Still Do Name Your Price?
Framework of Priceline Bidding
Introduced back in the late 1990s, Priceline’s “Name Your Own Price” feature shaped the business and travel industry. Renowned for giving travelers the power to negotiate prices, it removed predetermined price tags in the travel sector, replaced with a user-driven model. You set your preferred price for hotel rooms, flights, and rental cars. If unknown suppliers matched the offer, voila, you scored a deal!
The Shift in Business Model
Fast forward to 2016, things started changing. Amid evolving travel industry dynamics, Priceline started phasing out the “Name Your Own Price” feature. Transitioning towards a more conventional booking process, Express Deals became the focus. This new feature reveals the price upfront but keeps the hotel identity secret until reservation finalization. You can filter results by preferences like star rating and general location, but you forfeit the ability to negotiate prices.
Reasons behind the Change
Why this shift? The travel industry is not static. Multiple factors influenced Priceline’s decision, primarily user experience considerations. “Name Your Own Price” was bold, but for many, it bordered on risky. Express Deals mitigates uncertainty, putting traveler convenience first, fitting better with today’s consumer expectations.
Technology advancements also played a role in this transformation. The rise of mobile booking presented unique challenges for Priceline’s bidding model. Express Deals, more streamlined and less tedious, fits better with mobile interfaces. The company had to prioritize adaptation to capture the convenience-seeking mobile-based customer segment.
Impacts on Customers
While some clients were disappointed with the cessation of the bid-your-own-price model, others welcomed the change. With Express Deals, booking becomes more efficient. You get a set price instantly, reducing the wait, and eliminating bidding-induced anxiety. It’s a time-saver, offering immediate results with trade-offs of price flexibility and completely anonymous suppliers.
The switch also added more predictability for businesses. Name your price model presented price stability challenges for suppliers. With Express Deals, supplier revenues became more predictable though arguably at slightly diminished margins due to buyer preference for lower cost options.
Current Scenario and Alternatives
As of now, Name Your Own Price is a thing of the past for hotels and flights, but Priceline still offers it for rental cars. You can set your price and wait for an unnamed rental company to accept. It’s your best bet if you’re nostalgic for a haggle, or trying to score a deal on wheels.
If you’re looking for hotel and flight ‘Name Your Own Price’ equivalents, consider Hotwire’s ‘Hot Rate’ deals, which closely mimic original ‘Hidden Price’ concept. It embodies the suspense and surprise of Priceline’s original feature, with the potential for substantial savings.
In Conclusion
So, to answer the question: No, Name Your Own Price is mostly phased out at Priceline. The travel industry evolves, and so do accompanying business models. Priceline chose to adapt, focusing on streamlining customer experience with Express Deals. However, if you’re a fan of the original model, other platforms offer similar services.