Bid for your bed: world's first bidding-booking engine launched

www.myroombid.com gives consumers an upper hand when it comes to what they are willing to pay for a stay at their chosen hotel after being shown the regular online rate, and accepts any bids, with no minimum offer level pre-set.

After providing credit card details, both parties must reach an agreement within 72 hours of the first bid. The hotel is given two counter bids and consumer three, but if a rate is not agreed upon, no penalties apply to either party. However a flat AUD$5 booking fee is charged if the customer's rate is accepted and a 10 per cent deposit is instantly taken by the hotel to secure the booking.

For more information, visit www.myroombid.com