Capitalize on Last-Minute Hotel Deals: When to Book for the Best Rates
Capitalize on Last-Minute Hotel Deals: When to Book for the Best Rates - When to Book for the Best Rates
Book 15 days in advance for 13% savings: According to a 2021 NerdWallet study, booking a hotel room 15 days in advance can result in an average savings of 13% compared to booking four months in advance.
Last-minute bookings are usually better: A 2022 NerdWallet study found that last-minute bookings can result in an average of 13% savings compared to booking four months in advance.
This is because hotels often lower their rates at the last minute to fill remaining rooms.
Tuesday check-ins typically have rates 16% below Friday check-ins, while Thursday checkout dates lead to rates 17% below those with Sunday checkouts.
The week before your trip is the best time to book: Skyscanner's data insights show that the best time to book hotels in the United States is during the same week of travel.
Within the week before your stay, you'll see massive savings of around 21% cheaper than average.
What else is in this post?
- Capitalize on Last-Minute Hotel Deals: When to Book for the Best Rates - When to Book for the Best Rates
- Capitalize on Last-Minute Hotel Deals: When to Book for the Best Rates - The Sweet Spot for Hotel Bookings
- Capitalize on Last-Minute Hotel Deals: When to Book for the Best Rates - Tuesday Check-ins and Thursday Check-outs: The Key to Savings
- Capitalize on Last-Minute Hotel Deals: When to Book for the Best Rates - Last-Minute Deals: Debunking the Myth
- Capitalize on Last-Minute Hotel Deals: When to Book for the Best Rates - Seasonality and Destination: How Location Affects Booking Strategies
Capitalize on Last-Minute Hotel Deals: When to Book for the Best Rates - The Sweet Spot for Hotel Bookings
Booking a hotel room 15 days in advance can save you an average of 13% compared to booking 4 months in advance.
A NerdWallet study found this sweet spot for getting the best hotel rates.
Checking in on a Tuesday and checking out on a Thursday tends to offer more hotel bargains, with rates 16% lower than Friday check-ins and 17% lower than Sunday check-outs, according to Kayak data.
The laws of supply and demand work differently for hotels versus flights.
While booking flights early is generally better, the opposite is often true for hotels - last-minute bookings can yield better deals.
Using "opaque" booking sites like Hotwire or Priceline a week before your stay can uncover hidden discounts, as hotels try to fill unsold rooms at the last minute.
Seasonal changes play a big role - booking far in advance may backfire in some destinations, while last-minute can work better.
Understanding local tourism patterns is key to finding the sweet spot.
Capitalize on Last-Minute Hotel Deals: When to Book for the Best Rates - Tuesday Check-ins and Thursday Check-outs: The Key to Savings
Timing is Everything: Kayak data suggests that Tuesday check-ins typically have hotel rates 16% lower than Friday check-ins, while Thursday checkout dates lead to rates 17% lower than Sunday checkouts.
This highlights the importance of strategically timing your hotel bookings.
Midweek Perks: Hotels catering to business travelers often have their busiest and most costly periods during the middle of the week.
Booking your stay for the weekend, with a Sunday checkout, can unlock significant savings compared to a Friday check-in.
Last-Minute Advantages: A 2022 NerdWallet study found an average of 13% savings for those who booked hotel rooms 15 days in advance compared to those who booked four months in advance.
This suggests that last-minute bookings can sometimes offer better deals.
Destination Dynamics: The optimal time to book a hotel room varies depending on the destination.
In some cities, booking too far in advance can lead to higher prices, while in others, waiting until the last minute may backfire.
Digital Key Technology: The implementation of digital key technology in hotels can offer a range of benefits, including improved efficiency, convenience, and cost savings for both guests and hotel staff.
This emerging trend is poised to transform the hotel check-in experience.
Loyalty Program Perks: Marriott Bonvoy, the loyalty program of Marriott International, offers top-tier members the ability to enjoy more flexible check-in and checkout times, which can be particularly useful for those seeking to maximize their hotel stays.
Capitalize on Last-Minute Hotel Deals: When to Book for the Best Rates - Last-Minute Deals: Debunking the Myth
Last-Minute Hotel Deals: The Myth Debunked - Contrary to popular belief, booking a hotel room at the last minute does not always guarantee the best deal.
In fact, hotels often increase their rates closer to the travel date to capitalize on the increased demand from procrastinating travelers.
Weekday Bookings for the Win - Booking your hotel room on a Tuesday or Wednesday can lead to significant savings compared to booking on a Friday or Saturday.
This is because hotels tend to offer lower rates during the less busy weekdays.
Seasonal Savings - Traveling during the off-season can unlock substantial discounts on hotel rates.
For example, booking a hotel in a popular beach destination during the winter months can result in savings of up to 50% compared to peak season.
Flexibility Pays Off - Being flexible with your travel dates can help you capitalize on last-minute flash sales and promotions, allowing you to secure great hotel deals.
Consider adjusting your travel dates by a day or two to take advantage of these savings.
Timing is Everything - While booking a hotel room well in advance used to be the norm, the rise of dynamic pricing has changed the game.
Recent studies have shown that booking a hotel room around 3 months in advance can often result in the best rates.
This can help you manage your expectations and ensure you're getting the most value for your money.
Hub Hopping - Analyzing the exact flight routes, including any intermediate stops or hubs, can reveal potential savings opportunities.
Sometimes, booking a flight with a connection can be cheaper than a direct flight, especially for longer-haul routes.
Capitalize on Last-Minute Hotel Deals: When to Book for the Best Rates - Seasonality and Destination: How Location Affects Booking Strategies
Booking hotels on Tuesdays can save you up to 16% compared to booking on Fridays, as hotels tend to offer lower rates mid-week to entice bookings.
Checking out on Thursdays can lead to rates 17% lower than Sunday checkouts, as hotels try to fill rooms in the middle of the week.
Last-minute bookings (around 15 days in advance) can save you an average of 13% compared to booking 4 months in advance, due to hotels discounting unsold room inventory.
Seasonality has a significant impact on hotel occupancy and pricing, with off-peak seasons often seeing discounts of 30-50% compared to peak seasons.
Hotels in popular summer destinations like beach towns may offer their best rates in the winter, while ski resorts see their lowest prices during the summer months.
Dynamic pricing algorithms used by hotels can adjust rates hourly based on demand, so checking multiple times a day for last-minute deals can pay off.
Booking a refundable rate can allow you to rebook at a lower price if rates drop closer to your stay, taking advantage of the hotel's flexible cancellation policy.
The most affordable days to fly into a destination are often Tuesdays, Wednesdays and Saturdays, which can translate to lower hotel rates as well due to reduced weekend demand.