Booking hotels can be a significant expense when planning a trip, but there are smart strategies you can use to save money. One effective method is booking fully refundable reservations early to lock in low prices, then checking closer to your travel date for cheaper last-minute deals. Here’s a detailed guide on how to make the most of this money-saving tactic.
Step 1: Book Early with Fully Refundable Reservations
Start by booking your hotel room well in advance. Many hotels offer fully refundable rates, meaning you can cancel without any penalty. Booking early usually allows you to secure a lower price since rates tend to rise as the travel date approaches and availability decreases. By choosing a refundable rate, you protect yourself from price hikes and have the flexibility to change your plans if needed.
Step 2: Keep an Eye on Last-Minute Deals
As your travel date gets closer, start checking for last-minute deals. Hotels often lower their prices to fill unsold rooms, and you can find significant discounts. Several websites and apps specialize in last-minute hotel deals, making it easy to compare prices and find the best offers.
Example: Travel Portals vs. Direct Booking
When looking for deals, you have two main options: using travel portals like Expedia or booking directly with the hotel. Both have their pros and cons.
Travel Portals (e.g., Expedia, Booking.com):
- Pros:
- Aggregated Results: Travel portals aggregate prices from various hotels, making it easy to compare options in one place.
- Rewards Programs: Many travel portals offer their own rewards programs, allowing you to earn points or cashback on your bookings.
- Package Deals: These sites often provide package deals that include flights, car rentals, and hotel stays, which can sometimes be cheaper.
- Cons:
- Limited Customer Service: If something goes wrong, dealing with a third party can sometimes complicate customer service issues.
- Hidden Fees: Some travel portals might have hidden fees that aren’t immediately obvious.
Direct Booking:
- Pros:
- Better Customer Service: Booking directly with the hotel often ensures better customer service since there’s no middleman involved.
- Loyalty Programs: Hotels usually offer loyalty programs that can give you perks like free Wi-Fi, room upgrades, or late checkout.
- Price Match Guarantees: Many hotels have price match guarantees, meaning if you find a cheaper rate elsewhere, they’ll match it.
- Cons:
- Limited Comparisons: Booking directly means you’ll need to check each hotel individually, which can be time-consuming.
- Fewer Discounts: You might miss out on some of the package deals or special discounts available on travel portals.
Step 3: Cancel and Rebook if You Find a Better Deal
If you find a cheaper room as your travel date approaches, cancel your original refundable reservation and book the new, lower-priced option. Make sure to check the cancellation policy of your initial booking to ensure you won’t be charged any fees.
Additional Tips
- Set Alerts: Use price alert features on travel websites to notify you when prices drop.
- Flexibility: Being flexible with your travel dates can help you take advantage of lower prices.
- Check Multiple Sites: Don’t rely on just one travel portal or hotel website; compare prices across several platforms.
- Consider Alternative Accommodations: Sometimes, alternative accommodations like vacation rentals or boutique hotels can offer better rates.
By using this strategy, you can enjoy the peace of mind that comes with having a reservation while also giving yourself the opportunity to save money if prices drop. Happy travels!