The FINANCIAL — TripAdvisor, the travel planning and booking site, on April 6 announced its “Best Time to Book” report, revealing the least expensive times to book hotels for summer travel in popular destinations around the globe, based on TripAdvisor hotel booking and meta click data 1.
The research showed that the best time periods to book can vary depending on the region or city where the traveler is looking to visit for summer and that 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 U.S. hotels is within two months of the summer trip, but U.S. hotel prices for summer remain fairly consistent throughout the year, with a relatively modest potential savings of seven percent when booking during the least expensive time period. By comparison, for European hotels, the best time to book for summer is between three to five months out, when travelers can save 23 percent compared to the most expensive booking period, according to TripAdvisor.
“Travelers researching trips almost always want to know – am I booking at the right time, or will I save money by booking later,” said Brooke Ferencsik, senior director of communications for TripAdvisor. “The report shows there are a variety of time periods during the year when it’s ideal to book on TripAdvisor depending on the destination, and savvy travelers can use these insights for significant savings when booking their hotels for summer.”
TripAdvisor analyzed hotel booking and interest in nine popular regions around the world for the summer months of June, July and August. The best time to book was defined as periods when hotel prices were less than the average for the destination. Below is the breakdown of potential savings for nine world regions and 25 popular world cities when comparing the least expensive to most expensive times to book hotels for summer.
Best Time to Book Hotels for Summer in World Regions
U.S. hotel rates consistent but travelers can save by booking inside 2 months – U.S. hotel pricing remains fairly steady throughout the year, but those booking within 2 months of their summer trip can save 7% on their hotel.
Plan for longer lead times when booking summer hotels in Europe – Travelers looking to visit Europe during the summer months should plan to book their hotel rooms between 3-5 months out to save 23% percent versus the peak booking period for the region.
Asia value to be had booking inside 3 months – Booking a hotel within three months of a summer trip is the best time in Asia, when travelers can save 23% versus peak pricing. Asia prices rise slightly 3-5 weeks out, before seeing the lowest prices within the final two weeks before the travel date.
Within 4 months best for the Caribbean – Booking within 4 months is the sweet spot for Caribbean hotels for summer when travelers can save 7% compared to the peak pricing periods.
Modest savings in Central America within 3 months – Booking a hotel within three months of a summer trip is the most cost-effective approach for Central America, when travelers can save 7% compared to peak price weeks.
Inside 4 months ideal for South America – Travelers planning a South American trip can find 20% savings by booking within four months of the trip. For those willing to wait, they can save an additional 2-4% booking within the final few weeks before the travel date.
Within 4 months best for Middle East – For those planning a Middle East trip, inside 4 months is the optimal booking period when travelers can save 24%. Prices increase slightly during weeks 3-4 before dropping again for last minute deals within a couple of weeks of the travel date.
Wide booking window for African hotels – Travelers booking a hotel for summer in Africa can save 21% when booking within 5 months of the trip. Hotel rates rise slightly between 3-5 weeks out, before dropping in the final two weeks before the travel date.
South Pacific savings inside 5 months – For summer trips to the South Pacific, travelers can save 19% or more per night by booking within 5 months of their travel date.
Best Time to Book Hotels for Summer in Popular World Cities for Travel
Bangkok – Within 3 months for 16% savings
Barcelona – 2-7 months out for 27% savings
Beijing – 2-6 months out for 16% savings
Berlin – 2-5 months out for 33% savings
Buenos Aires – 1-4 months out for 19% savings
Cancun – 2-4 months for 16% savings
Cape Town – Within 3 months for 13% savings
Dubai – Within 2 months for 40% savings
Dublin – 2-5 months out for 14% savings
Hanoi – Within 3 months for 16% savings
Istanbul – Within 5 months for 29% savings
Jakarta – Within 3 months for 39% savings
London – 3-5 months out for 18% savings
Marrakech – Within 4 months for 28% savings
Moscow – 4-7 months out for 55% savings
Mumbai – Within 3 months for 17% savings
New York City – 2-4 months out for 25% savings
Orlando – 1-4 months for 10% savings
Paris – Within 4 months for 32% savings
Prague – 2-5 months for 33% savings
Rio – 3-5 months out for 11% savings
Rome – 3-5 months for 32% savings
Singapore – 2 weeks to 5 months for 26% savings
Sydney – Within 5 months for 34% savings
Tokyo – 2-5 months for 31% savings
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