by Lacey Pfalz
Last updated: 12:12 PM ET, Thu September 23, 2021
If you're like most people, you like to find the best rates on hotels and book them early, around four months ahead of your check-in date. However, sometimes you can find the best rates when you book last minute.
The latest analysis from Nerdwallet has found that you can, in fact, save money when booking hotels last minute, about fifteen days before the check-in date.
Analyzing global hotel rates for 2021, the report found that 73 percent of the time, rates were cheaper fifteen days prior to the check-in date than when they were four months out. This year, the average room rate booking four months in advance is $209, whereas the average rate booked 15 days in advance is $180. While saving around $30 might not be a lot for some people, it's enough to make many consider booking their accommodations later in the planning process.
The average savings for hotels booked fifteen days in advance in North America is 12.7 percent, but that number is greater for hotels booked internationally, which is an average of 13.5 percent.
Even high-end, five-star hotels offer better savings when they're booked last-minute. A five-star hotel with a rate of $386 can be had for $302 when booked last-minute, a savings of 21.6 percent. In fact, the savings are usually greater the higher the hotel category is.
Booking accommodations last minute can come with some risks, though. Entire hotels could be sold out, or at the very least, you might not be able to get your ideal room category. Either way, sometimes it's worth the wait to book later.
For the latest travel news, updates and deals, subscribe to the daily TravelPulse newsletter.
Topics From This Article to Explore
