This is a guest post written by Matt Gamboa.
A Seattle Startup located in historic Pioneer Square is looking to change the way you compete for the best price in vacationing. Off & Away is a hotel auctioning site that puts a little twist on things and truly promotes staring at the screen and watching the timer count down to zero.
At this auction site, hotel packages are offered and the bidding begins. Every bid made costs $1 to the bidder, and adds 10 cents and 20 seconds to the current bid price and time. If you’re the lucky one to bid last and have the timer run down to zero, you win! Since most people will bid towards the end of the time limit, the price will usually go up during that time. But, the savings are huge if you work for it! And you must work, since every bid adds 20 seconds and only adds $0.10, it really comes down to who can outlast the other at the computer. Their very first auction was 2 nights in the Tata Suite Pierre in New York… listed for $40,000 and finally sold for $938! Can you say, DEAL? That’s typically what you can expect from the website. Classy hotel stays usually worth a few thousand dollars are able to be sold in for only hundreds.
So what if you lose? What happens to all your one-dollar bills? Don’t worry if you lose an auction and just blew $300 trying to lock in your dream vacation, Off & Away makes sure you get your monies worth. Any money you “lose” from bidding is reusable via the site’s Book Now section. Just like other hotel booking sites, you can book at over 100,000 hotels worldwide using your credit. But pay attention to the rules, the credit is only valid 30 days after the auction.
Off & Away has a good strategy and lots of potential. Madrona Venture Group, who also backed Amazon and Farecast, and have an advisory board that includes top executives from Orbitz.com and Alaska Airlines, backs them.
If you’re a developer, you should check out Deploy 2010 on Monday, November 08, 2010 from 9:00 AM – 5:30 PM (PT). Deploy 2010 is an all-inclusive conference for technology builders to give you new tools to create the applications of tomorrow. The conference will be held at the Bell Harbor Conference Center in Seattle.