Accommodations are one of the most expensive aspects of trips, often costing more than transportation. So, when booking a hotel, it’s never a bad idea to maximize your savings. One method to achieve this is to book at the right time. Hotel prices are dynamic, fluctuating based on supply and demand — which means that the price you see when searching for hotels one day may change the next, even if your stay dates remain the same. So, when is the best time to book a hotel reservation? Let’s find out…
When Should You Book a Hotel to Save Money?
The best time to book a hotel isn’t an actual science — there are a ton of variations across the industry. However, according to statistics, the lowest hotel room prices are typically found just 15 days before your stay. Yes, last-minute reservations are (usually) cheaper. A 2022 NerdWallet study analyzed over 2,500 hotel room rates from 2019 to the first half of 2021 and found that those who booked 15 days in advance saved an average of 13% more than those who booked four months in advance.
Keep in mind that this is just an average and does not account for peak travel periods, such as the holidays, when you should definitely book ahead of time. According to data from the travel app Hopper, the 15-day benchmark is good for major business cities like New York and Chicago but not so good for vacation destinations like the Caribbean or Hawaii. Hopper notes that hotel rates in those destinations are usually the lowest two or three months before your trip.
Which day of the week is the best to book a hotel room?
According to travel aggregator Kayak, the best day of the week to book your hotel at the lowest rate is Saturday for domestic travel and Friday for international travel.
Kayak also states that the most expensive day to book domestic hotels is Tuesday, and the most expensive day to book international hotels is Sunday. As the week progresses into the weekend, hotel searches can decrease by up to 30%, and rates tend to decrease as well.
However, other travel experts have different views about the best day of the week to book a hotel room. For example, travel booking and review site Tripadvisor reported that Tuesday was the cheapest day to book a hotel, both domestic and international accommodations, while travel-planning search engine Skyscanner maintains that Friday is the best day for booking domestic hotels and Thursday for booking international hotels.
While it may be perplexing that different sources provide contradictory information, we recommend that you use this information as a starting point and do some comparison shopping to find the best hotel rates. It’s always a good idea to compare prices across several websites, and if prices appear to be too high, set an alert to see if they drop.
Which day of the week is the cheapest to check in and out?
If you plan to travel domestically and arrive on a Friday or Saturday and depart on a Sunday, you will pay top dollar. Thursday is the most expensive day to check in internationally, followed by Friday. As a result, if you can avoid the weekend time frame, you will save money.
How far in advance should I make a reservation?
According to Hopper’s 2023 Travel Booking Hacks Guide, booking a hotel in a leisure travel destination like Las Vegas or Miami at least three months in advance will likely save you at least 50% or more on your hotel stay.
When it comes to city stays, however, booking later is advantageous. “Hotels in large cities have to compete with many other, similar hotels to capture your reservation,” explains Hopper. If you book a hotel within three weeks of your trip, you could save up to 30%.
Similarly, Kayak discovered that if you’re not afraid of taking risks and can wait one to four days before your planned check-in date, you can save a lot of money. Many hotels will offer discounts on booking sites for rooms that would otherwise be empty.
Hotels typically have a 24- to 48-hour cancellation policy and do receive cancellations just ahead of that time frame from those looking to avoid being penalized. Rather than letting those canceled rooms sit empty, hotels will lower their rates to fill them.
The problem with waiting is that availability and lower-priced room category options may be limited. However, if you’re willing to take a risk in exchange for a good deal, a travel site like HotelTonight will be especially useful for finding last-minute deals.
If you don’t want to wait until the last minute for hotel deals, hotel comparison site Trivago recommends selecting a few hotels in your price range a couple of months before your trip. Then, over the course of a few weeks, track them to determine the best price and lock it in when you’re satisfied. Trivago discovered that booking more than two to three months in advance will cost the most money when traveling abroad.
Consider booking during a less busy season.
If you want to save money on hotel rates, booking off-season is the way to go. This means avoiding popular domestic or European destinations during the summer and instead traveling in the spring or fall. Similarly, you won’t find many bargains in Palm Springs, Mexico, or the Caribbean during the winter. The same is true of popular holiday destinations and major events, such as Christmas in Hawaii, New Year’s Eve in New York City, and Mardi Gras in New Orleans.
Finding the most affordable hotel rates
In short, remember that getting the best hotel room deal boils down to a few simple rules: Make your reservations on a more favorable day of the week (try Tuesday or the weekend), try for last-minute bookings if possible (perhaps make a backup reservation with a flexible cancellation policy and check back for any last-minute deals), travel off-season whenever possible, and avoid checking in on Friday.
When is the best month to book a hotel room?
September is the best month to book a hotel in the United States. Hotel reservations are 6% cheaper on average in December. March is the second cheapest month to book a hotel deal. Avoid October because it is the most expensive month to book a hotel in the United States.
Best Month to Book Hotels: International
On the other hand, April is the best month to book hotels for international travelers.
July is the cheapest month to book a hotel stay in the world, with savings of up to 9%. This is closely followed by April, which offers 8% savings. October and May are also less expensive than usual. December is the most expensive month to book an international hotel (+9%), followed by February (+7%). Both January and September are above average.
How Far in Advance Should You Book for the Best Deals?
In the United States, the best time to book hotels is during the same week of travel. Within a week of your stay, you’ll see massive savings of up to 21% less than the average. The next cheapest time to book hotels in the United States is 1-2 weeks before your stay, with an average savings of 8%. 3-4 weeks out, on the other hand, is 5-6% more expensive than the average.
Best Time to Book Hotels: International
Similarly, the best time to book an international hotel is within a week of your stay, with average savings of 18%. A 12% discount is also available one week before your stay. Both 8 and 19 weeks out are the worst times to book international hotels, with prices being 8% higher than usual.
Hotel Booking Dangers at the Last Minute
Last-minute bookings can save you money, but they are also risky. If you wait until the last minute to book, your preferred hotel — or even all hotels in the area — may be sold out. To reduce this risk, we recommend booking a hotel room with free cancellation as soon as you find a deal that seems reasonable, even if it’s several months in advance. After you’ve made your reservation, keep an eye on the price of your hotel room on a regular basis. If the price drops, you can cancel your reservation without penalty and rebook at the lower rate (double-check the fine print before booking!). This method requires some effort, but it guarantees you the best hotel rate.
When it comes to booking a hotel, does the time of day or the day of the week make a difference?
Nope! That is largely a myth. Even though prices fluctuate on a regular basis, the savings from one day to the next or one hour to the next are negligible. When determining the best time to book a hotel, consider the big picture, opting for those prime windows two weeks to two to three months before your trip, depending on the destination. At the end of the day, whenever you find a rate you like, book it.
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Best Time to Book a Hotel: References
