For your offer to convert well, it has to be irresistible, but not necessarily using significant discounts.
A service specializing in creating irresistible offers. You get a consultation session and create with the service’s specialist an irresistible offer suited for your purpose.
You are returning to the same hotel because last time was great. You may want the same room you had or the exact opposite, and you might want something different.
The hotel should track your history and when trying to book again, actively offer you both options.
Discounts and incentives cost you both money and branding equity. You should only use them when it seems the visitor will not buy. You probably already use simple timed or exit intent triggers to do that, but these are crude behavioral indicators. Something smarter is needed.
First, observe enough visitors to your site and see the behavioral patterns of those who buy and those who don’t. Time their visit, but also “follow” them around. Where do they go with their mouse on the page? What do they click? Where do they hover for longer time periods, etc? All this can and is already done today, but we need to take this further – use the information to match future visitors behavior. If there are distinct patterns that can predict a purchase, you can then only show the incentives when visitors do not match these patterns. Even better, if a “non buyer” pattern also emerges, only show the incentives to visitors exhibiting such a pattern.
Advertise that for today (or this week) this product can be bought by what the customer thinks is the fair price. The product should not have an MSRP printed on it (like a book), and an important part is, that they read (and maybe sign) explanation for why you are doing it. Most important, is including what is involved in pricing a single product in the shop (explaining the cogs, how long they stay on the shelf on average and how much that costs, shipping to the store, cost of money “sitting in it”. Basically, show them the real cost for the store of offering them the product.) Then they can buy it for what they think is fair.
An analysis should follow this experiment to find out if there are interesting patterns of behavior.
Your ideas are no good if no one acts on them. If you already came up with an idea, put it out there and let them know about it.
Think and research: who might be profiting from this? Who might be interested in this for any other reason? Let them know about it!