When’s the Last Minute Sweet Spot for Securing Unbeatable Hotel Deals?
When's the Last Minute Sweet Spot for Securing Unbeatable Hotel Deals? - Timing is Key: The Best Days to Book a Hotel
Last-minute bookings are usually better: A 2022 NerdWallet study found that booking a hotel room 15 days in advance can result in an average of 13% savings compared to booking four months in advance.
The best day to book a hotel room is Saturday for domestic travel and Friday for international travel: According to Kayak's analysis of hotel searches, these days tend to offer the lowest rates.
Avoid booking hotels at the beginning of the week: A general rule is to avoid booking hotels on Monday to Wednesday, as this is a peak time when people are more likely to book, driving up prices.
The ideal amount of time to book a hotel room is only 15 days before your trip: A 2021 NerdWallet study found that booking a hotel room 15 days in advance can result in the best rates, as hotels tend to adjust their prices based on demand during this time period.
What else is in this post?
- When's the Last Minute Sweet Spot for Securing Unbeatable Hotel Deals? - Timing is Key: The Best Days to Book a Hotel
- When's the Last Minute Sweet Spot for Securing Unbeatable Hotel Deals? - Last-Minute Bookings: The Surprising Savings
- When's the Last Minute Sweet Spot for Securing Unbeatable Hotel Deals? - Destination Matters: Finding the Sweet Spot
- When's the Last Minute Sweet Spot for Securing Unbeatable Hotel Deals? - Off-Season Travel: Maximizing Discounts
- When's the Last Minute Sweet Spot for Securing Unbeatable Hotel Deals? - Flexible Policies: Backup Bookings and Cancellations
When's the Last Minute Sweet Spot for Securing Unbeatable Hotel Deals? - Last-Minute Bookings: The Surprising Savings
Booking hotels last-minute can actually save you money compared to booking months in advance.
A 2022 NerdWallet study found an average savings of 13% for bookings made 15 days prior compared to 4 months in advance.
The sweet spot for the lowest hotel rates is often 1-2 weeks before your travel dates.
This is when hotels become more motivated to fill unsold rooms and offer discounted last-minute rates.
Contrary to flight bookings, the best day to book hotels is often Tuesday or the weekend, when demand is lower.
Friday and Saturday check-ins tend to be the most expensive.
The higher the hotel star rating, the more you can save by booking last-minute.
Five-star hotels can offer discounts of over 20% when booked at the last minute compared to months in advance.
Flexibility on your travel dates can unlock even bigger savings.
Shifting your trip by a day or two around your desired dates can lead to significantly lower hotel rates, especially for last-minute bookings.
When's the Last Minute Sweet Spot for Securing Unbeatable Hotel Deals? - Destination Matters: Finding the Sweet Spot
Timing is Key: Hotel prices are highly dynamic and can fluctuate significantly based on the day of the week you book.
Studies show that booking on a Tuesday or during the weekend can lead to 16-17% lower rates compared to booking on a Friday.
Last-Minute Bookings Can Pay Off: Contrary to popular belief, last-minute hotel bookings (around 15 days in advance) can actually save you 13% on average compared to booking months in advance, according to a 2022 NerdWallet study.
Weekday Stays are Cheaper: Hotels typically offer lower rates for mid-week stays (checking in on Tuesday, checking out on Thursday) as they aim to fill rooms during the slower period between the weekend rushes.
Seasonality Matters: Booking a hotel during the off-season for your destination can yield significant savings, as hotels lower rates to attract travelers during slower periods.
Geolocation Affects Pricing: Hotel pricing algorithms take into account your physical location when you're searching, so using a VPN or clearing your browser cookies can sometimes surface lower rates.
Automation Beats Intuition: Studies show that using price tracking tools and bots to monitor hotel rates can be more effective than relying on human intuition to spot the best deals, as they can quickly identify price fluctuations and alert you to the optimal booking window.
When's the Last Minute Sweet Spot for Securing Unbeatable Hotel Deals? - Off-Season Travel: Maximizing Discounts
Booking hotels on a Tuesday or Wednesday can lead to rates up to 16% lower compared to a Friday check-in, as demand is typically lower mid-week.
Checking out on a Thursday rather than a Sunday can result in rates 17% lower, as hotels try to fill rooms during the slower mid-week period.
Last-minute bookings, made within 2 weeks of travel, can sometimes offer better deals than booking months in advance, due to hotels trying to fill unsold rooms.
Traveling in the off-season, when demand is lower, can unlock discounts of up to 50% on hotel rates compared to peak season.
Many airlines offer reduced fares during off-peak travel periods, so being flexible with your travel dates can lead to significant airfare savings.
Attractions and activities often provide discounted rates during the off-season to incentivize visitation, allowing you to experience more for less.
The "sweet spot" for securing unbeatable hotel deals is typically 1-2 weeks before your travel dates, when hotels are highly motivated to fill remaining inventory at deeply discounted rates.
When's the Last Minute Sweet Spot for Securing Unbeatable Hotel Deals? - Flexible Policies: Backup Bookings and Cancellations
The decision to cancel a hotel booking typically starts with the guest's change of plans, personal circumstances, or unforeseen events.
The guest then reviews the hotel's cancellation policy before initiating the process.
Increase in net booking value and booking conversion rates can be achieved by offering more flexible cancellation policies.
Data shows a 30% increase in net booking value per year and a 10% higher booking conversion rate for properties with flexible policies.
Evolve, a property management company, saw a 26% increase in bookings and a 53% increase in revenue per listing after implementing more flexible cancellation policies.
This helped them fill more availability and extend booking lead times and length of stay.
Airbnb has introduced a new "Firm" cancellation policy, which allows guests booking far in advance to cancel for free up to 30 days before check-in.
Pilot tests showed this policy improved conversion rates compared to the "super strict" 30-day policy.
Airbnb Experiences now offer a more flexible cancellation policy, allowing guests to cancel for free up to 24 hours before the experience, as long as the booking was made more than 48 hours in advance.
According to Phocuswright research, 7 in 10 travelers now prioritize flexible booking policies more than ever, as lenient cancellation, rebooking, or refund policies are considered more important.
The "last-minute sweet spot" for securing unbeatable hotel deals is typically within 2 weeks of your travel dates.
A 2022 NerdWallet study found an average of 13% savings for those who booked 15 days in advance compared to 4 months in advance.
The best days to book a hotel for the cheapest rates are Tuesday for check-in and Thursday for check-out, as Kayak data suggests these dates can lead to rates 16% and 17% lower, respectively, compared to Friday check-ins and Sunday check-outs.