The sudden crisis in the world economy has not only affected Europe and the United States. It has definitely affected countries in Asia such as Japan, Taiwan, the Philippines, and even the small city-state of Singapore. Singapore, a rising metropolis in Southeast Asia, welcomes more than 10 million tourists every year who spend more than S$14.8 billion. But in 2008, a 1.6 percent decline in visitor arrivals was recorded in statistics from the Singapore Tourism Board.

In order to increase the occupancy rate at its hotel, Ibis Singapore, a part of French hotel and business services group Accor, thought of a brilliant trick to attract more guests to its hotel.

In times of crisis, no one wants to pay high room rates. No one wants to pay additional taxes and service fees either. But anyone, in his illusion, would want to pay the amount that he can pay and is very willing to pay for a particular service. But that is no longer wishful thinking for loyal Ibis Singapore customers. As part of the hotel’s pre-opening giveaway to travelers on February 12, 2009, guests can indicate the price they’re willing to pay for a hotel stay and actually pay that amount!

Interested guests simply logged on to the hotel’s website (paywhatyouwant.com.sg) during designated sales periods to enter the price they were willing to pay. The fastest bidder won and got a chance to book a hotel room at Ibis Singapore for the price he wanted to pay.

There were no limitations on the amount to enter. Bidders could enter any amount as low as S$1! Hiro Inoue, director of marketing for Ibis Singapore, explained that they actually expected to receive offers starting at a dollar or so. But to his surprise, the bids went up to $100. Inoue emphasized that this fact made them feel even more confident that guests appreciate their services and are willing to pay amounts of up to $100 to take advantage of a stay. Thousands of visitors have already entered your offer at the time the promotion was announced. And in no time, the hotel reservation was almost full!

If guests are surprised by this cool gift and are wondering about the logic behind this unique promotion, Inoue has an answer for them. Inoue explained that this bold move was made to test the waters of the hotel industry in Singapore. With the global financial crisis looming, this bidding process would help hotel management determine the particular amount that customers are still willing to pay in exchange for excellent hotel services and classy accommodation.

With the wave of recession grazing the shores of many countries, businessmen, merchants and leisure travelers are trying to take advantage of promotions and discount fares as much as possible to save travel costs. But they are wise enough to discern which hotels can provide services and accommodations worth the value they pay.

With the overwhelming reception of Ibis Singapore’s “Name Your Price” promotion, it is clear that many people opt for quality services at reasonable prices. At Ibis Singapore, guests and travelers are sure to find what they’ve been waiting for!