DON’T WAIT: When Is The Best Time To Book Hotels?

Finding the right hotel at the right price makes any trip more enjoyable. When planning ahead, when is the best time to book hotels?

Answer: Book your hotel AS SOON AS POSSIBLE after confirming your trip dates, and buying your plane tickets. The longer you wait to book your hotel room, the higher the price, but with fewer selections available. 

Although some websites suggest last minute or two weeks away is the best time to book hotels, I vehemently disagree. The BEST hotel is NOT always the cheapest hotel. Prices usually start going up as time moves closer to the planned check in date. 

Plus there are a few tricks to consider like my “Fallback Rule” which I will teach you later in this post.

Let’s dive into the details. 

Do Hotel Prices Go Up Closer To The Date?

Yes. Generally speaking, the longer you wait to book your hotel the higher the price. 

Availability contributes the most to the price increases. As more rooms get booked, the remaining room prices go up. It’s supply and demand. Looking for the cheapest hotel requires more research and a better understanding of what you need in the hotel.

Below, I have a table showing a few Denver hotels in various areas of the city with decent visitor reviews. These are the average nightly rates for a three night stay checking in on a Tuesday and checking out on a Friday avoiding any holidays or large events.

	1 Day	1 Week	2 Weeks	1 Month	2 Months	3 Months	4 Months
Hyatt Regency	$399	$259	$259	$298	$349	$259	$199
The Maven	$395	$303	$382	$354	$517	$330	$267
Hostel Fish	$130	$100	$103	$96	$90	$90	$90
Element	$220	$228	$176	$228	$172	$132	$119
Comfort Suits	$206	$131	$115	$115	$111	$93	$115

Hyatt Regency: 4.5 Star Rating. Business hotel with conference center in downtown
The Maven: 4.6 Star Rating. Boutique hotel located in Lodo, a popular tourist area downtown
Hostel Fish: 4.5 Star Rating. A boutique hostel located downtown
Element: 4.3 Star Rating. A casual, modern hotel located a quarter mile from downtown
Comfort Suites: 3.9 Star Rating. A budget hotel located about a 10 minute drive from downtown.

As you can see, the closer to the date the higher the average nightly rate. Most hotels have their lowest prices around 4 months away from scheduled check in. 

There are variations and fluctuations in pricing based on a multitude of factors, so there are no definite rules, but I believe that booking sooner is better. 

Why Should I Book My Hotel Sooner Rather Than Later?

Availability and accessibility. The longer you wait to book a hotel, the fewer options available. Hotel location plays a huge role in how much I enjoy a trip. If I need to take a cab, Uber, or public transit thirty minutes one way to enjoy nice restaurants and museums, then I’m wasting time and money. 

The longer I wait the best hotels will get booked up first, and I am left trying to find other hotels in a worse location for a higher cost.

Waiting for prices to go down only wastes your time and money because prices usually don’t go down and if they do, it’s not by much. 

Plus, if you need a room with specific amenities like two queen beds, a suite, or a kitchen, the hotel with the cheapest rate may not have any available. Bummer you waited so long!

I know you want the best hotel at the cheapest price, and I’m the same way. That’s why I follow the “Fallback Rule” which I’ll teach you next. 

Use the “Fallback Rule”

From my years of booking various hotels, apartments, and hostels, I utilize a process that I call the “Fallback Rule.”

If I know my travel dates, but I am still considering my accommodation selections, I book a room that has a simple and straightforward cancelation policy as my “fallback” option in case I cannot find a cheaper or better hotel.

Most websites like Airbnb, Booking.com, Expedia, and Priceline clearly show the hotels with free cancelation. These larger travel websites don’t cause problems when canceling with a refund coming in a few business days. 

The Fallback Rule is a no brainer because if you book a decent hotel, and prices go down for that hotel or another, you can cancel and book the cheaper accommodation. On the flip side, if nothing better comes along, then you still have your “fallback” hotel to guarantee a good price and location. 

Please use reputable sites when using this method, and make sure to read the fine print in the cancelation policy to avoid unexpected resistance while trying to cancel. 

What Are The Best Days Of The Week To Book Hotels?

Book your hotel rooms for stays on weeknights, Sunday through Thursday, for the cheapest nightly rate. Friday and Saturday nights usually cost more due to weekend getaways and activities when people have the weekend off work. 

If you’re wondering if there is a specific day of the week where you should actually book your hotel because rates will drop, then understand that hotel prices do not fluctuate based on the day of the week that you book the rooms. 

Prices fluctuate based on demand and how the hotel’s own algorithm dictates that it will make the most money. So whether you book on a Friday night or a Tuesday afternoon, the prices will most likely be the same if they are in the same week. 

Do You Have To Book A Hotel Room In Advance?

No. Hotels with vacancies will book walk-ins. This is not, however, my favorite method because it limits your options on hotels, especially when technology today makes booking a room super easy. 

Without any reference, the hotel can quote literally any price they want when you walk in, leaving you without much choice but to fork over the cash. 

Even calling ahead is better than walking in, because any advance booking guarantees your night’s stay. 

But for some reason, in an emergency, if you cannot call, plan or book online, walk-ins are most certainly welcome. 

Is It Better To Book With Hotel Directly?

From my experience, no. I find that booking directly with the hotel provides no extra value and gives no real benefits to me as a budget traveler. In fact, hotels usually charge higher rates than third party travel sites.

Some larger hotel chains do offer price matching if you find a cheaper price for that specific hotel on a third party site. I find these larger hotel chains are still more expensive than smaller boutique hotels, Airbnb apartments or hostels. 

The only real exception involves the hotel’s reward memberships or credit card points. To receive these points you need to book directly with the hotel using your account and specific credit card when applicable. There is value there, but again, I’m not staying at Marriott hotels around the globe.

Conclusion: Book Your Hotel ASAP

Planning a trip requires time and energy, predicting your needs for the future. Considering when is the best time to book hotels, hopefully you learned to book as soon as possible, guaranteeing your stay at the right hotel, at the right price, at the right location.

If budget remains a concern, use my fallback rule to book a hotel with the choice to cancel if a better option presents itself.

I find having this insurance with a fallback option not only eases my anxiety about my choices but creates more flexibility to continue my search for the best hotel rooms. 

Keep up your planning and research knowing that your hard work will result in money saved on a fantastic trip at the right hotel.