The promotion is targeted at subscribers of Hutchison's Orange brand, which it operates under licence from France Telecoms.
The 'Orange Priceline Travel SMS Game' offers subscribers HK$50,000 (US$6,400) in virtual cash to plan a holiday to 20 international destinations.
Users then name their prices for air tickets and hotel rooms, and are directed to priceline.com.hk for discounts.
Hutchison-Priceline chief executive officer, Alfredo Gangotena, said the promotion would allow the company an opportunity to test its readiness to launch mobile commerce.
"We'll review the market potential, then investigate the possibility that Orange users may be able to purchase online air tickets and hotel rooms via their handsets in the future, he added.
The promotion was also designed to capitalise on Hong Kong's high mobile phone penetration levels, estimated at 83 per cent.
Within Asia, Hong Kong ranks second to Taiwan, which boasts a mobile penetration rate of 90 per cent, according to Goldman Sachs.
However, the popularity and usage of SMS has lagged behind other regional markets such as the Philippines and Singapore.
"Every mobile screen in Hong Kong is a marketing billboard, said Gangotena.
The Hutchison promotion follows the company's other online marketing initiatives to broaden its reach to Asian travellers.
It has also set up co-branded sites in the region with Yahoo.
Priceline has also stepped up its presence in retail stores such as ParknShop, Watson's and Fortress, all of which are owned by the Hutchison conglomerate.
It also has promotions running at Nuance-Watson duty free shops in Hong Kong and Singapore international airports.
Priceline was also the exclusive supplier of tickets to the Serena Williams Live invitational in Hong Kong.
