Last fall, EventSource.com became the first site to host a live, online meeting auction, where a meeting manager acted as the "seller" and hotels were "buyers." The process is "a real-time bidding war driven by dynamic pricing that lets market forces take their course," says Ed Sarraille, the company's president and CEO. EventSource makes its money on the auctions by charging a standard 10 percent commission to the winning hotel. Certain criteria qualify an auction candidate: the meeting ...

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