Info

Info

The starting point is Aurum Hotel’s price policy: Prices are changing continuously depending on offer and demand on the market, following an algorithm which represents the very engine of the system whose development took a year of research work.
 
The more demand there are on the market for a specific period and hotel, the more the price goes up, while decreasing demand results in a reduction of prices,  the same way it happens to shares at the stock exchange.
 
The idea is basically simple: Why not trade a booking like a share at the stock exchange?
 
From January 1st 2008, if you are holder of booking (even if confirmed, that is, the required deposit has been paid, in 2007), with just two mouse clicks you can put your booking once again on sale at a price that you can decide yourself.
 
As a consequence, if you decide to sell at a price lower than the price paid at the moment of the original booking, in case of a successful transaction, you will loose, if you choose a higher price instead, you can earn money on your booking..
Obviously, to secure the success of sale you will have to choose a price in line with current Aurum Hotels rates. As a result, if prices have gone up since the moment of your booking (that is. there has been an increasing demand for the specific period), you can choose a higher price, otherwise you will have to sell at a lower price.
 
If you are lucky or able enough to choose a period for your booking in which the hotel is getting full (as frequently happening) and patient to wait that the hotel gets full ( at least with regard to the room type in question, let’s say a quadruple room), you are free to decide the price of sale without any kind of limitation and, consequently, maximise your profit.
 
This system even represents a kind of free insurance in case of cancellation, as, if for any reason you should decide to cancel your booking, without paying for travel insurance, you can just put your booking again on sale and might even make a profit.
 
Interesting, isn’t it?
The system has been designed to guarantee maximum transparency, simplicity and security for buyers as well as sellers.
The main point is that the Hotel Stock Exchange works only via Internet. The call centre isn’t enabled to carry out similar transactions.
All AURUM customers will gain from this new innovative service:
 
Who just wants to book his holiday at a convenient price – because apart from the rates offered by Aurum Hotels he can take advantage of the offers made by other customers and therefore maximise the opportunity to get the best possible prices.
 
Who books now for a period far ahead – because he knows that in case he should be forced to cancel his holiday he can sell it with maximum probability to recover his expenses or even make a profit.
 
Who for any reason has to cancel his holiday – because he has got the opportunity to recover the deposit paid.
 
Who wants to invest and realise profit – because, anticipating the course of the market, he can buy when prices are advantageous and sell later at a higher price, just like  on the stock market.
Transparency
 
For each booking put on sale there is a sales order to be signed and sent by fax to our offices. This document contains the booking details as well as the conditions of sale and the amount due in case of a successful sale.
 
Therefore Aurum Hotel holds no responsibility for an eventual failure of the sale.
In case of a successful sale Aurum Hotels receives a small compensation for the costs of administration ( as credit card fees, etc.) and a commission on a possible profit from the sale (ca. 20%) For example, if you earn 100 Euros on the transaction the commission will be a 20 Euros, if you just recover your expenses, there will be no commission at all.
 
Simplicity
 
Only the holder of a bank account can sell his booking.
 
Entering the reference number of the booking to be sold and your e-mail address in the customer’s area of our website you can access the summary of your booking.
Digit the price of sale into the field “Hotel Stock Exchange” and click on “analyse”.
The system will show the gain or loss you will achieve from selling the booking.
If you decide to sell at these conditions, just put in the details of the bank account to which the profit in case of a successful sale will have to be transferred and click on “sell” to confirm – and your booking will appear immediately in the for-sale window. Print off the form and send it signed by fax to 0039 081 598 05 31.
The sales order shows the reference number (e.g. E243) which allows you to monitorise your booking in for-sale window.
 
Really simple, isn’t it?
 
There are a few essential rules to follow:
 
  1. For reasons of security the holder of the bank account has to be one of the room components of the booking. There is no possibility to request a bank transfer on behalf  of a third person.
  2. To conclude the transaction it is absolutely necessary that we receive the sales order signed by the holder of the booking.
  3. The booking remains for sale until the date the balance is due. After the expiry date for the final payment the booking will be automatically removed unless the balance has been paid. If the balance has been paid, the booking remains for sale until 5 days before arrival. After this deadline the booking will be automatically removed, as the remaining time until arrival does not allow to conclude the necessary transactions.
  4. Unless the room hasn’t been sold, the seller can remove the booking any time from sale, entering the customer’s area, and eventually put it once again on sale at a different price.
 
 

Security

There is no risk not to get your money in case of a successful sale, as the buyer pays for the booking by credit card, and Aurum Hotels collects the money immediately and transfers the amount due to the bank account of the seller. For reasons of privacy the name of the buyer cannot be revealed to the seller. Aurum Hotels therefore guarantees the transaction to avoid any risk for the seller.
Aurum Hotels will report any attempt of fraud to the competent authorities and will exclude from the Hotel Stock Exchange anyone who uses this service in a way not in accordance with its purposes.

Transparency
 
At the moment of the transaction a booking form containing booking details, costs and conditions has to be signed, as for any normal booking.
The booking page allows you to compare the price of the booking for sale immediately to our current Aurum rates, giving you the difference in terms of the financial advantage or disadvantage of buying from other customers instead of booking directly with Aurum Hotels.
 
As usually, maximum transparency is guaranteed.
 
Simplicity
 
The procedure is more or less the same as for a normal booking with Aurum Hotels. The only difference is that that the booking starts from the for-sale window. Clicking on “details” you enter the booking mask, and following the instructions on the screen the booking can be completed with a few mouse clicks.
The deposit has to be paid by credit card and necessarily on the day of the booking – for the obvious reason that, if the transaction is not completed as quickly as possible, other interested parties would loose their opportunity in case the potential buyer should not confirm the transaction.
Another slight difference compared to an ordinary booking is the possibility to buy a room for a number of components inferior to the nominal capacity of the room type. If, for example, a triple room is for sale, you can buy it even if you are only in two. Obviously, Aurum Hotels will give you a room with the number of beds corresponding to the actual number of guests.
 
Security
 
The payment is made to Aurum Hotels who guarantees the transaction, excluding any possible risk for the buyer. In fact, the buyer does not even know from whom he has bought the room, as he is dealing exclusively with Aurum Hotels.
Already today Internet offers the opportunity to know resorts and places even before visiting them and allows, by eliminating all intermediaries, to maximise the price – quality relationship (just think of the so called low-cost air carriers or internet-based travel agencies), but until today the use of the internet was always conceived as direct relationship between supplier and customer.
 
The Hotel Stock Exchange in our opinion represents a qualitative leap by introducing even in this field the so called principle of “peer to peer”, that is the direct relationship between users ( as partially realised already by sites like E Bay, Wikipedia or You Tube).
The advantages are obvious: maximum liberty, profit opportunity and total integration of business enterprise and customer. For the moment it is just a little step, but, wherever it may lead us, we are the first to do it. Join us, let’s do this little step together!