Coming soon: a horror story on American Fritzl’s victim?

London, Sept 20 (ANI): Publishers and Hollywood studios have begun a multi-million dollar bidding war for the rights to sex slave Jaycee Dugard’s horrifying life story.

Fresh details of the American Fritzl’s victim have emerged, including that in the early days of her captivity, the terrified schoolgirl was so hungry she ate bugs and worms in the rambling back garden where she was held in tents and lock-up sheds, reports The Daily Express.

She had to use a garden hose to shower outside, even in winters, say detectives guarding her and her two daughters, fathered by kidnapper Phillip Garrido.

However, the public apparently is desperate for the full story of how Jaycee, now 29, survived after being snatched on her way to a school bus stop when she was only 11.

A New York literary agent, who estimates the book and film rights to be worth up to 12million dollars, said: “You couldn’t dream up a script like this. Americans can’t wait to hear the story from the girl who lived it.”

A Hollywood studio producer said: “Everyone is in the market for this story. Poor Jaycee’s life may have been hell for 18 years but she’ll never want for anything for the rest of it.”

Garrido, a registered sex offender, has been linked to six child abductions and murders stretching back years within a 400-mile radius of the ramshackle home in Antioch, California, where Jaycee was held. (ANI)

US Fritzl’s secret garden of evil where he kept kidnapped girl as sex slave

London, Aug 30 (ANI): A filthy, ramshackle secret garden, hidden inside ‘American Fritzl’ Phillip Garrido’s house in the small town of Antioch, east of San Francisco, has been revealed to be the place where he kept Jaycee Lee Dugard as sex slave for 18 years and fathered two children with her.

Jaycee – kidnapped from a bus stop by Garrido, 58, when she was just 11 -was just 14 when she had the first of his two daughters, now 11 and 15, reports News of the World.

The kidnapped victim had to raise her undercover family amid the makeshift home of sheds and tents, surrounded by rubbish – topped off with a sign bidding Welcome.

The shocking details emerged as Phillip and his wife Nancy were held for trial after denying 29 charges of abduction, imprisonment and rape – and 29-year-old Jaycee was reunited with her shocked family.

Jaycee and her daughters lived destitute in a maze of interlinked shacks and tents hidden from view by overgrown trees, 8ft fencing and tarpaulins.

The entire area is strewn with their sad array of worn and broken toys and possessions, vying for space with piles of the Garridos’ dumped household junk including discarded cans of chemicals.

A source who visited the Walnut Tree Avenue compound said: “Most frightening are the bloodstains which are everywhere on carpets, tent walls and in clothing.

“It’s extremely disturbing trying to fathom out what went on in that dreadful place and how human beings could do such things.”

“How the children didn’t die of diseases or suffer long-term medical problems is a miracle. Their home was a tip with no hygiene at all,” the source added. (ANI)

Salman Khan ‘interested’ in buying new IPL team

Mumbai, Aug. 26 (ANI): Salman Khan is reportedly in talks to a stake in the Indian Premier League.

The actor on Wednesday met IPL chairman Lalit Modi here to understand the bidding process.

“Yes, Salman came to see me with the possibility of buying an IPL team. We were just exploring the possibility of what the process would be. And he has been interested for quite a while. He is interested in a new team. He talked to me in the past. I think he is a serious buyer,” Modi said.

Two new IPL teams are to be introduced in 2011. Early reports say Khan is interested in bidding for the Nagpur or Kochi team.

Last year, the average bid was 150 million dollars per team, so Salman will need a serious amount of cash.

Bidding for the new teams will take place in January. The big IPL players will also be back on the market next year.

Shah Rukh Khan, Juhi Chawla, Shilpa Shetty and Preity Zinta are the other star owners of IPL teams.

Shah Rukh Khan owns Kolkata Knight Riders, a team that has been at the bottom of the table in both the IPL seasons. The team is co-owned by Juhi Chawla.

Shilpa Shetty took over as co-owner of the Rajasthan Royals in the second season. Preity Zinta was seen cheering her team Kings XI Punjab through both the seasons. (ANI)

Winning bidder of $4.6M crypt above Marilyn Monroe’s says ‘backs out’

New York, Aug 26 (ANI): The Japanese man who made the winning bid on eBay to buy the crypt above Marilyn Monroe’s grave, at a whopping 4.6 million dollars, apparently cannot afford it.

Beverly Hills widow Elsie Poncher, whose dead husband was laid to rest in the crypt directly above Monroe, put her beloved’s valuable vault on the block August 14 to help pay off the 1.6 million dollars mortgage on her home.

The bidding for the crypt, which started at 500,000 dollars, shot to 4.6 million dollars in three days.

But when a representative for the widow sent an invoice to the winning bidder on Monday, he sent an email saying that he couldn’t afford it.

“I am awfully sorry, but I need to cancel this because of the paying problem,” the New York Daily News quoted the unidentified bidder as saying in the email.

According to the Los Angeles Times, the widow’s representative has since emailed the 11 other bidders who bid at least 4.5 million dollars, giving them 24 hours to submit new offers.

He said that if the right offer is not made, he and Poncher might look for another way to sell the crypt.

EBay had been vetting the bidders and cancelled several offers that appeared fraudulent, leaving 21 final bids.

The auction posting revealed that Poncher’s late husband was buried face down, looking at Monroe, when he died 23 years ago at age 81. (ANI)

Australia has good chance to host FIFA World Cup, says Beckenbauer

London, July 5 (ANI): German football legend Franz Beckenbauer has dropped a strong hint that he could back Australia’s bid to host a FIFA World Cup.

Beckenbauer is a member of the 24-man executive committee of the world football governing body, which will decide the hosts of the 2018 and 2022 World Cups in December next year.

Asked about the 11-nation race to host the event, he said: “It’s too far away, it’s more than one year to go.”

But when pressed on the chances of the most popular sporting tournament in the world heading Down Under, he gave a strong hint that his vote may be among the 13 needed, The Sydney Morning Herald reported.

“Australia? I think they have a good chance because the World Cup’s never been to Australia,” Beckenbauer said. “Australia is a beautiful country, a beautiful continent.”

Earlier, he told a media conference for Adidas, for which he is an ambassador, that Europe’s football decision-makers want the World Cup to return to Europe in 2018, with South Africa hosting next year and Brazil in 2014.

“It will be Europe’s turn. As a UEFA member, I would like to see it in Europe but it is an open race as to which country might get it,” Beckenbauer said.

He said if the FIFA executive committee decided the 2018 would be in Europe, then “England could host it tomorrow because they have the stadiums, the infrastructure, the fans, everything.”

“But there are a lot of other different countries bidding. Let’s wait and see,” he said. (ANI)

Mariah Carey’s rare designer gown up for grabs

Washington, May 26 (ANI): Mariah Carey is auctioning off a rare designer dress especially created for her to raise money for breast cancer research.

The ‘Hero’ singer is supporting charity Susan G. Komen for the Cure to sell a hot pink, asymmetric fishtail gown on auction website eBay.com.

The couture dress is one of only three in the world and was made by Julian Contreras after Carey asked fans to send in fashion designs inspired by her perfume, ‘Luscious Pink’.

Ever since the gown has been up for sale, fans are clamouring to get hold of it and have already quoted a price of 5,600 dollars, while there are still five days for the bidding to close.

The item was listed with a starting price of 500 dollars, reports Contactmusic. (ANI)

First sex was painful but pleasurable for virginity auctioning teen

Melbourne, May 20 (ANI): The 18-year-old Romanian girl who sold her virginity online for 20,000 dollars has revealed the details about her night with the winning bidder.

Pretty Alina Percea had auctioned her virginity on a website so that she could afford to study computing at university, reports The Daily Telegraph.

The auction’s winner was a 45-year-old Italian businessman who made a bid of 8,782 pounds.

The businessman paid for Alina, who underwent two medical examinations to prove her virginity, to fly to Venice where the couple toured the sights before spending a night in a luxury hotel.

Alina said: “I liked the man and got on with him well. He didn’t look 45, and he seemed much younger.

“We spoke in English as I can’t speak Italian and he can’t speak Romanian. He paid me a lot of compliments throughout the day, and he was very funny and charming. We got on very well, and I was pleased he’d won.

“He told me he had a good job, but he didn’t say if he was married or had a family, and I didn’t ask him.”

Alina, who was inspired to auction herself on a German erotic website after reading how American woman Natalie Dylan, 22, from San Diego, had put her virginity up for sale for 5million dollars, had hoped to raise as much as 100,000 dollars through the controversial sale but still plans to go to university.

“The bidding lasted two weeks,” she told Closer magazine.

“I hoped I’d meet a nice man, like in the film Pretty Woman,” Alina says.

“At the arrivals lounge, a man came over, smiled, handed me a box of chocolates and said: ‘Welcome to Venice.’ He looked much younger than 45, short, but nicely dressed, with dark hair, green eyes and a kind smile,” she added.

The two went sightseeing, then to a five-star hotel where they had unprotected sex.

“We kissed, then undressed each other. I’d never done that before, so I was nervous. He laid me on the bed and started kissing my body, then we had sex.

I was attracted to him, so I enjoyed it, even though it was quite painful. We only had sex once, then fell asleep.

Next morning, we had breakfast together like any other couple, and I took the morning-after pill. He told me he’d like to see me again, and I agreed,” she revealed.(ANI)

Becks launches bid for World Cup berth

London, May 19 (ANI): Former England captain David Beckham is keen to play for his country in the next World Cup.

Beckham headed an all-star team yesterday as England kicked off a 15 million pound bid to host the World Cup in 2018.

The line-up at Wembley was a perfect blend of youth and experience – packed with big game players, reports The Sun.

Becks was up front with international team-mate Wayne Rooney, Gary Lineker and England’s 1966 World Cup-winning heroes Sir Geoff Hurst, Sir Bobby Charlton, Martin Peters and George Cohen.

England coach Fabio Capello was unavoidably absent at a christening abroad. But you could sense that what he had done for the England side in terms of discipline, humility and togetherness had rubbed off on the World Cup bidding team.

The tone of the sales pitch was humble and respectful.

Becks, 34, who is fronting the official bid, said: “To have the World Cup in your own country is the dream of any player. I know first hand the passion of our fans, and they would provide an incredible atmosphere at every game.” (ANI)

Ashley Olsen abandoning acting for a career in fashion industry

Washington, May 14 (ANI): Hollywood actress Ashley Olsen revealed that she would soon be bidding goodbye to her acting career, as she is keen to focus on fashion designing full time.

Ashley Olsen, who has been acting ever since her stint in sitcom Full House, when she was just 9 months old, has decided to focus on her fashion collection ‘The Row’ with sister Mary Kate Olsen, while the latter focuses on acting.

“I’ve been transitioning from acting as a kid to doing something that I’m choosing for myself – to be part of the fashion industry. That’s what I want for my future. It has nothing to do with my past, nothing to do with anyone else’s agenda. And I followed my heart the whole way,” Contactmusic quoted Ashley Olsen as telling VMan.

“The Row is really something that I’m doing while my sister still wants to focus on acting. She’s my partner in The Row, but she trusts me with the everyday. I mean, I see her like 10 times a day,” Ashley Olsen added.

Ashley, who is expanding the collection further to embrace men’s wear in the autumn this year, is bent upon proving that her collection is not just another celebrity line. (ANI)

Tottenham Spurs join in the bidding race for Argentine Tevez

London, May 11 (ANI): Tottenham Hotspurs are fighting Manchester City, Chelsea and Real Madrid to land Argentine forward Carlos Tevez.

The Argentinian striker believes his time is up at Manchester United but wishes to stay in the Premier League.

Sources close to Tevez have told SunSport that Spurs boss Harry Redknapp loves the player so much he will try to buy him from his owners for around 25 million pounds.

Wheeler-dealer Redknapp is planning a major clear out at White Hart Lane in a bid to raise substantial funds for new players.

He wants to get rid of Russian striker Roman Pavlyuchenko, England attacker Darren Bent and midfielder David Bentley – and will also consider offers for others.

Redknapp can guarantee Tevez first-team football and is convinced the popular striker would be a major hit in North London.

He reckons Tevez could take Spurs to the next level and give them a chance of competing for Champions League places. (ANI)

Picasso’s painting, Giacometti sculpture fail to sell at auction

London, May 7 (ANI): An auction in New York witnessed a sheer lack of buyers for a painting by Picasso and a Giacometti sculpture, despite the fact that they had been expected to fetch up to 16million pounds each.

The two items that failed to sell at auction were Picasso’s The Daughter Of The Artist At Two-and-a-half Years With A Boat, and Giacometti’s The Cat.

However, Sotheby’s auction house insists that bidding stopped short of the artworks’ reserve prices.

A spokesman for the company said that 29 of the 36 artworks on offer sold for a total of 40million pounds, well below their 79million pounds estimate.

According to reports, the global financial crisis has adversely affected sales at the auctions of expensive artworks in recent months, and that fewer items are being put up for sale as compared to this time last year.

The most robust bidding at Tuesday’s sale was for an abstract painting by Piet Mondrian called Composition in Black and White, With Double Lines.

It sold for more than 6million pounds, about twice its pre-sale estimate, reports the BBC.

Another Picasso work, the 1971 painting A Woman With A Hat, will be offered for sale on Wednesday at rival auction house Christie’s. The painting is estimated to be worth between 4-5.3million pounds. (ANI)

Satyam-linked Maytas in talks to restructure debt

New Delhi, May 6 (ANI): Cash-strapped builder Maytas Infra Ltd is negotiating with its 17 lenders, including State Bank of India (SBI), according to official sources.

“We have appointed certain committees. We will have a project management committee. We have also constituted an audit committee, banking and financing committee and the legal committee and in these committees, the project management committee… We have also included others like ILFS, ICICI bank, SBI. Our main task is to evaluate the project and restore the confidence with the customers and vendors,” said K Ramalingam, Chairman, Maytas Infra Ltd, at a news conference in New Delhi.

The company will hire SBI Capital Markets to implement the restructuring.

The board was expected to pursue five billion rupees in receivables from customers as part of a mandate to revive the company that has seen orders being cancelled and customers worrying over the company’s credibility.

Maytas, which is controlled by the family of Satyam’s former chairman Ramalinga Raju, has orders worth 85 billion rupees.

It was also awarded a 150-billion-rupee metro project in Hyderabad, but Maytas missed a deadline to tie up funds for the project.

The company has been under the government’s scanner since early January when Raju resigned from Satyam after revealing profits at the outsourcer had been falsified for years. In April, Satyam’s government-appointed board sold a 31 percent stake in the outsourcer to Tech Mahindra Ltd after a global bidding to help revive the company.

Shares in Maytas, whose market value has plunged three-quarters to 49 million dollars since early January, rose by its daily limit of five percent to 41.05 rupees in a flat Mumbai market on Tuesday. (ANI)

Satyam-linked Maytas in talks to restructure debt

New Delhi, May 6 (ANI): Cash-strapped builder Maytas Infra Ltd is negotiating with its 17 lenders, including State Bank of India (SBI), according to official sources.

“We have appointed certain committees. We will have a project management committee. We have also constituted an audit committee, banking and financing committee and the legal committee and in these committees, the project management committee… We have also included others like ILFS, ICICI bank, SBI. Our main task is to evaluate the project and restore the confidence with the customers and vendors,” said K Ramalingam, Chairman, Maytas Infra Ltd, at a news conference in New Delhi.

The company will hire SBI Capital Markets to implement the restructuring.

The board was expected to pursue five billion rupees in receivables from customers as part of a mandate to revive the company that has seen orders being cancelled and customers worrying over the company’s credibility.

Maytas, which is controlled by the family of Satyam’s former chairman Ramalinga Raju, has orders worth 85 billion rupees.

It was also awarded a 150-billion-rupee metro project in Hyderabad, but Maytas missed a deadline to tie up funds for the project.

The company has been under the government’s scanner since early January when Raju resigned from Satyam after revealing profits at the outsourcer had been falsified for years. In April, Satyam’s government-appointed board sold a 31 percent stake in the outsourcer to Tech Mahindra Ltd after a global bidding to help revive the company.

Shares in Maytas, whose market value has plunged three-quarters to 49 million dollars since early January, rose by its daily limit of five percent to 41.05 rupees in a flat Mumbai market on Tuesday. (ANI)

Apex court to hear graft case against Vijayan in May

New Delhi, April 20 (IANS) The Supreme Court Monday decided it will hear in May a lawsuit that alleges delay in sanction by the Kerala government to prosecute former state power minister and Communist Party of India-Marxist state secretary Pinarayi Vijayan in a corruption case.

The aex court had initially declined to hear the public interest lawsuit and dismissed it. But on MOnday, a bench of Chief Justice K.G. Balakrishnan and Justice P. Sathasivam decided to hear it in May after counsel for K.B. Suresh, who brought the PIL, insisted it has merit.

Kerala-based scribe T.P. Nandkumar has approached the apex court against a Kerala High Court order of Feb 12, 2009, that dismissed his contention that the Central Bureau of Investigation (CBI) was delaying the trial of Pinarayi Vijayan and two state bureaucrats on the pretext that the government has not given permission to prosecute them.

The other two accused in the case, besides Vijayan, are former power secretary K. Mohana Chandran and former joint secretary (power) A Francis.

Nandkmar had contended before the high court that the CBI, which probed the graft case, did not need any government approval to prosecute them as they were not entitled to legal protection from trial for corrupt acts.

Vjayan faced a CBI probe for his alleged role in awarding a contract in 1997 for renovation and modernisation of two hydro-power plants in the state to Canadian firm SNC Lavalin without any competitive bidding.

The government’s official auditor later found that the award of the contract by the Kerala State Electricity Board to the Canadian firm at the behest of the minister had resulted in a loss of Rs.3.5 billion to the state exchequer.

The contract had allegedly been given to the Canadian firm ignoring a Bharat Heavy Electrical Limited report, which had said that the renovation of three power plants could have been achieved at a cost of less than Rs.1 billion.

Nandkumar had approached the high court alleging that the state government was not keen to prosecute Vijayan and two bureaucrats though a corruption case against them was lodged in February 2005.

He also contended that that there has been no progress in the investigation.

But the high court disposed of scribe’s plea after the state government said that the CBI has approached it for approval for trial of the former minister and the bureaucrats, and that it was examining the plea.
Indo Asian News Service

UPDATE 1-Hilco-Gordon JV wins Polaroid with $87.6 mln bid

(Adds comments from Hilco and Patriarch, background)

By Phil Wahba

NEW YORK, April 16 (Reuters) – An $87.6 million bid by a joint venture of investors Hilco Consumer Capital and Gordon Brothers Brands won the auction for the assets of bankrupt camera maker Polaroid, a federal bankruptcy judge ruled on Thursday.

After a 16-day auction process, the joint bid by Hilco and Gordon Brothers was deemed the “best offer” by Judge Gregory Kishel of the U.S. Bankruptcy Court for the District of Minnesota, beating out private equity firm Patriarch Partners’ higher $88.1 million bid, which included more cash but left fewer existing Polaroid assets with its estate.

The auction process was reopened twice, the first time following objections by creditors, the second time last week after Patriarch asked that bidding be continued.

Hilco and Gordon Brothers, which specialize in brand licensing, are investment divisions of the large liquidation firms The Hilco Organization and Gordon Brothers Group. The joint venture partners have said they intend to keep the Polaroid brand alive.

“The Polaroid brand has immense global appeal that translates into almost all categories,” Hilco Consumer Capital Chief Executive Jamie Salter said in a statement.

A spokesman for Patriarch Partners told Reuters the firm will appeal the ruling, adding, “In an open auction things are supposed to be transparent and the highest bidder is supposed to win.”

Hilco and Gordon have been joint venture partners in their recent acquisitions of The Sharper Image and Bombay brands.

Patriarch. whose portfolio includes Arizona brand iced tea and mapmaker Rand McNally, had said it intended to rebuild Polaroid as a company.

A spokesman for a Polaroid creditor, Ritchie Capital, told Reuters, “The compensation is trivial compared to the value that could have been realized through a reorganization.”

The “stalking horse bidder,” Luxembourg-based Genii Capital SA, started the bidding for the company with a $42 million offer on April 1.

Polaroid filed for bankruptcy protection in December 2008, amid an investigation into the founder of its owner, Petters Group Worldwide.

The case is In re: Polaroid Corp et al., U.S. Bankruptcy Court for the District of Minnesota, No. 08-46617. (Reporting by Phil Wahba; Editing by Gary Hill)

Old, chipped teapot fetches #80k at auction!

London, Apr 16 (ANI): A chipped teapot which makes only one cup of tea has fetched a record 80,000 pounds at an auction.

The 250-year-old tiny antique was discovered in a pile of bric-a-brac, and carries a message against the act that led to the Boston Tea Party.

The rare orange pot was made by Wedgwood and carries the controversial messages “No Stamp Act” and “Success to Trade in America”. It implies protest against the Stamp Tax – the row that led to the American Revolution and US independence.

The five inch high orange teapot, made in the reign of George III before he went mad, excited interest on both sides of the Atlantic when it went up for sale.

It was discovered by an expert in a box of bric-a-brac that had been brought to his saleroom by a local man.

Charles Hanson, whose auctioneers sold the teapot at a hotel in Derby, said it was made in about 1765.

“It came in to us in a box of bric-a-brac and was among lots of Crown Derby and glassware,” The Daily Express quoted him, as saying.

“In the box was this tiny teapot and when I pointed it out the man said it had belonged to his mother and said it wasn’t worth anything and he’d take it away with him.

“But then I told him what it was and that it was worth more than everything else in his box put together,” he said.

Hanson added: “The bidding was electric. It probably went so high because rarity value and status on some objects march very well together. It was a must-have teapot for two collectors and money was no object. It’s remarkable, given that it has a chipped spout, chipped lid, a broken body and stands only five inches tall. In fact, it makes only one cup of tea – although I doubt the buyer will be making tea in it.” (ANI)

Michael Jackson auction opens for viewing

Los Angeles – The contents of former pop idol Michael Jackson’s Neverland Ranch went on public viewing Tuesday ahead of an auction next week that is being challenged by the controversial singer’s lawyers. Among the approximately 1,390 items on display at a former Beverly Hills department store were the wrought iron gates of Neverland Ranch, the crystal-covered glove worn by Jackson in the video for Billie Jean, numerous musical awards, a letter from former president Ronald Reagan, heaps of ornate furniture, dozens of statues and a massive collection of toys, games and pinball machines.

Organizers of the sale at Julien’s Auctions estimate that it could raise between 10 million and 20 million dollars, and take a sizable chunk out of Jackson’s estimated 24-million-dollar debt. Jackson also recently signed on to perform a 50-concert run in London in a bid to raise cash and solve his financial problems.

Jackson’s legal representatives are trying to stop the sale claiming that the singer was never given a chance to sort out his personal effects. Their initial motion was denied, but another court hearing is set for Wednesday.

Jackson lived in Neverland for more than 10 years before leaving it in the aftermath of the child molestation case in 2005, in which he was acquitted of charges that he sexually abused a young visitor at the ranch. Auctioneers spent three months emptying the massive estate and have split the eclectic collection into three main categories: stage wear and music memorabilia, toys and Disney memorablia, and furniture and decorative arts.

“Neverland represents Michael Jackson’s Xanadu,” said auction director Martin Nolan. “There’s something for everyone, from paintings to porcelain to bicycles.”

Also on offer are numerous portraits of Jackson is his favourite royal poses, a tour bus, bumper cars and all-terrain vehicles. There are life-size statues of ET and Darth Vader, endless Peter Pan paraphernalia, and dozens of figures of butlers, maids and children that were scattered around the house and its grounds. There’s also a Rolls Royce limousine with 24-karat gold trim and numerous jackets Jackson wore on stage and in television appearances.

Online bidding has already started at juliensauctions. com, and the live auction from April 22 to 25 will determine the winners.(dpa)

Now, bid for accompanying DiCaprio to his next film’s premier

Washington, Apr 15 (ANI): Ever dreamt of walking down the red carpet with none other than Leonardo DiCaprio at the premiere of his next film? Well, here’s a golden chance to make your wish come true.

The ‘Titanic’ actor-cum-environmental activist is auctioning the chance to attend the premiere of his upcoming drama Shutter Island on eBay.

And the highest bidder would not only get to accompany the star for the premiere, but would also get to stay at a green hotel complete with eco-car service to and from the event.

“By bidding on these items at ebay.com/globalgreen, people will help Global Green combat climate change and pursue important environmental imperatives, such as greening our nation’s schools, housing, cities and more,” People magazine quoted DiCaprio as saying.

The 34-year-old actor is a board member for Global Green USA, which advocates for climate-friendly solutions to environmental issues.

The auction begins on April 15 at 7pm, and ends on Earth Day, April 22. (ANI)

Noble Travels Group launches Bid2Travel.com

New Delhi, Apr 14 (ANI/Business Wire India): Noble Travels Group, the leading provider of travel-related services throughout the Indian travel industry for over a decade, today announced the launch of Bid2Travel.com – India’s first online bidding site bringing unsold, last-minute inventory of rooms straight to the customer.

Bid2Travel.com is based on a simple yet focused philosophy – “A room vacant for a night is revenue lost forever.” This new site will revolutionize the way that tourism accommodation providers sell unoccupied rooms and provide consumers with a direct way to get the best prices for their lodging needs.

For the first time, Bid2Travel.com enables consumers to decide the price they are prepared to pay for an unoccupied hotel room within the upcoming 14-day period.

They can also pay a heavily discounted rate for a last-minute room. Hotels gain advantages as well, with the ability to offer confidentially proposed prices to a consumer online for – for either unoccupied rooms or distressed stock/inventory . or they can sell last-minute rooms at a heavily discounted price.

The site is especially useful for those planning last-minute vacations or business trips. Consumers and business travelers alike face many challenges when attempting to book a cheap hotel through traditional online travel sites.

For the best prices, it often requires advanced booking timeframes of a few weeks – if not months – to score a good deal. Bid2Travel.com changes the entire process for consumers, empowering them to make an offer to a participating hotel with a vacant room and receive an answer within three hours.

This unique site allows people to make their own offers for hotel rooms at approximately one-third of the price (or lower) of the common reduced ‘last-minute’ rates.

“I have a firm belief that a room vacant for a night is revenue lost forever. A property/hotel only has a limited supply, so this revenue cannot be recaptured in the future,” said Pritpal S. Saini, Founder and Director of Bid2Travel.com.

“It’s like an eBay for the tourism industry, except it is not a competitive bidding process. While the cost of selling a room varies from property to property, the majority of a hotel’s costs will be the same whether a hotel has an occupancy rate of 57 per cent or it is fully booked,” Pritpal added.

Revenue management is of growing importance to the hospitality industry. The Internet represents a paradigm shift in how hospitality professionals can optimize a business segment that is driven by perishable inventory, relatively fixed capacity, high fixed and low variable costs, advance sales/reservations and time-variable demand for segmented markets.

According to Bill Carroll, senior lecturer at the Cornell University School of Hotel Administration, “Getting it right can make the difference between profitability and non profitability.”

According to PhoCusWright – the travel industry research authority on how travelers, suppliers and intermediaries connect, the past three years illustrated an unprecedented and fundamental shift in the supply side dynamics of the travel industry in India. Projections indicate that the online portion of the marketplace alone will surpass US $5.7 billion by 2010.

Bid2Travel.com represents a new opportunity for consumers to enhance their travel decisions. At the same time this initiative will benefit the accommodation industry, which on average has some 10,000 rooms sitting vacant throughout India each night.

“Increasing the number of people undertaking spontaneous travel will result in more demand for rooms,” said Saini. (ANI)