Priceline.com
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Priceline advertises best price guarantee you can save up to 60% when you name your own price on a hotel. Then I submitted an initial bid $250 to bid a resort at Wailea area in Maui for 6 nights in August 2011. The median price at Wailea area is $569 per priceline.com. I found out that only 3 resorts available at Wailea area per priceline.com. These resorts are
(1) Wailea Beach Marriott $249 per night.
(2) Grand Wailea, A Waldof Astoria Resort $569 per night.
(3) Ho'olei At Grand Wailea $1495 per night.
I thought my chance to get Grand Wailea was high if I submitted the bid higher than $249. The initial bid was accepted without any counteroffer. But priceline gave me a resort, Wailea Beach Marriott, with retail price $249. As a result, I am loosing money on the bid. I paid more than retail price. If I purchase at retail price, I have choice to choose what resort I want. I called Priceline several times and they refused to cancel the bid. They only refunded $1 per night to me and refused to refund the tax and fees for $1 x 6 nights to me. However, I paid the tax and fees for the amount of $250 x 6 nights. For this bidding, I did not even save a penny for bidding. I am loosing money.