Wednesday, October 18, 2017

When are the lowest booking rates?

According to TripAdvisor’s Best Time to Book report, revealing the least expensive times to book hotels this winter in popular destinations across the globe, it largely depends on the region or city Australians are looking to visit.

For most destinations, the hotel rates change gradually over time, without dramatic increases or decreases in price.

For example, the least expensive time to book US hotels is within three months of a winter escape when travellers can save nine percent compared to peak pricing. At the city level, Paris is an example where the best time to book is within two months of a winter trip, when travellers can save 23 percent versus the peak rates.

“Bargain hunters know that timing is crucial when it comes to booking the lowest hotel prices,” said Brooke Ferencsik, senior director of communications for TripAdvisor.

“TripAdvisor data shows that travellers can often find the best prices on hotels months in advance, with a booking sweet spot typically within three months of their trip. By doing their homework and comparing prices on sites like TripAdvisor, along with insights from this report, travellers can discover the best deals on their hotels.”

TripAdvisor analysed hotel pricing data to identify the time periods offering the lowest prices on hotels in 19 world destinations, popular with Australian travellers, for the months of June, July and August. The analysis defined “best time to book” as periods when hotel prices were consistently less than the destination average. Below is the breakdown of potential savings when booking hotels in these destinations this winter compared to the peak rates over the same time.

Best Time to Book Hotels this Winter in Popular World Destinations

(Average hotel rates based on June – August 2017 time period)

    • Bangkok: Book within 6 months for 19% savings
      • Average hotel rate: $63/night
  • Barcelona: Book 3-9 months out for 33% savings
      • Average hotel rate: $199/night
  • Beijing: Book 2-3 months out for 17% savings
      • Average hotel rate: $102/night
  • Berlin: Book 4-8 months out for 10% savings
      • Average hotel rate: $104/night
  • Budapest: Book 3-5 months out for 35% savings
      • Average hotel rate: $94/night
  • Dubai: Book within 6 months for 24% savings
      • Average hotel rate: $158/night
  • Hanoi: Book 3-7 months out for 17% savings
      • Average hotel rate: $133/night
  • Hong Kong: Book within 5 months for 23% savings
      • Average hotel rate: $107/night
  • Jakarta: Book within 6 months for 22% savings
      • Average hotel rate: $50/night
  • Bali: Book within 7 months for 18% savings
      • Average hotel rate: $278/night
  • Lisbon: Book 4-8 months out for 14% savings
      • Average hotel rate: $183/night
  • London: Book 5-8 months out for 12% savings (travellers yet to book can consistently find rates below the average within 8 months with an opportunity for deeper savings within a month of their trip)
      • Average hotel rate: $264/night
  • Mumbai: Book within 3 months for 24% savings
      • Average hotel rate: $73/night
  • Paris: Book within 2 months to save up to 23%
      • Average hotel rate: $188/night
  • Prague: Book 3-7 months out with 24% savings
      • Average hotel rate: $97/night
  • Rome: Book 4-8 months out to save 21% on hotels
      • Average hotel rate: $125/night
  • Singapore: Book 6-7 months out for 18% savings (travellers yet to book can consistently find rates below the average within 8 months)
      • Average hotel rate: $215/night
    • Tokyo: Book 4-7 months out for 18% savings
      • Average hotel rate: $139/night
    • New York City: Book within 2 months for 23% savings
      • Average hotel rate: $325/night

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