There are many ways to save on hotels.
You can be flexible with dates,
You can use points and miles instead of cash.
You can use hotel flexible calendars to find the cheapest dates.
One method that I like to use is to book the flexible rate, and then wait to see if the price drops in cash or points.
I don’t always win this game, but I do enough for it to be worthwhile.
Here is how it works.
Why You Should Book The Flexible Rate With Hotels First
I only book flexible rates with hotels (though not with airlines).
There are simply to many variables for any savings from a prepaid hotel rate to work for me.
For my trick to work, you must first book the flexible rate.
You need to book it is as early as possible too because it may be the cheapest rate.
Often, this will probably involve booking more than one hotel.
For instance, on my Miami trip in February, I started out booking IHG, Hyatt, and Hilton hotels.
These were $300/day.
Even though rates for Miami were $400 and up in winter, I had no intention of paying $300 a day for Miami.
I know Miami is usually $200 without the winter crowd.
You need to book the flexible rate as soon as you know your trip dates.
It may be the lowest rate again.
On my last Chicago trip, I booked the Marriott Autograph Talbot hotel for around $200.
The price never went down, and actually went up.
Since you are booking the flexible rate, no harm in booking as soon as possible.
You can also book as many hotels as possible.
You can cancel at anytime.
Send reminders to yourself, so you won’t forget to cancel.
On my San Francisco trip in December, I originally booked the J.W. for $250.
I later canceled that when the Hilton Parc 55 went for $150 after taxes.
The Parc 55 rate was too good.
The Parc 55 has no destination fees unlike most hotels in San Francisco’s Union Square.
The J.W. is actually one of the Marriott ‘s brands that I have not tried.
I have stayed at the Ritz, and other brands several times.
I can pay $200 for a J.W. in almost any city though.
That Hilton Parc 55 deal was too good again
As you get closer to your actual dates. wait to see if the price goes down.
Generally, as you get closer to your check in date, hotels may not be filling enough rooms.
Why Hotel Prices Can Change At the Last Minute
Hotels run on supply and demand.
In times of high demand like the Super Bowl in Las Vegas, spring break, or winter in Miami, they will charge higher prices.
When they cannot sell rooms, the price will be lower.
Without any special event, the price will more than likely drop if hotels have empty rooms.
This happens as you get closer to your check-in date.
Remember, you have 2-3 days to cancel any hotel bookings.
If the price drops, cancel your regular booking.
Then, get the lower rate.
Don’t expect that the price will drop even further.
I made this mistake once.
I thought the price would keep dropping.
The next day it went back up.
So, book another flexible rate any time the price changes.
It may be the lowest price as hotels can also raise the price.
Make Sure To Watch Out For When Your Cancellation Period
Most hotels give you 2-3 days before your arrival to cancel your hotel reservation.
Make sure your understand your cancellation policy.
It will be in your upcoming bill under hotel upcoming stays.
How Often Does This Trick Work?
This trick won’t work when hotels are sold out.
How often does it work?
I think I am getting 50% or better.
Again, if you are trying to book high demand times like New Year’s Eve in New York, this trick will not work.
For a big event like that, you will just need to book as far in advance as possible.
My trip in March to Las Vegas was around spring break.
I fly every month, but it is usually at the end of the month.
I booked the Park MGM at $300/night wasn’t planning on paying more than $250 for Vegas.
The prices did not drop in Vegas.
I ended up staying at the Sahara for $130 which was a great price.
Since I fly every month, I have to watch costs.
I would not pay $300 or more for Vegas when a different date would getup hotels like the Bellagio for $250.
This is why I always use hotel flexible calendars to get the cheapest rates.
I only had a small window to go to Vegas though.
Other Tricks To Save Money On Hotels
There are many other ways to save on hotels.
You can book unpopular days.
For instance, without spring break, most people who visit Las Vegas want to visit on a weekend.
So, a weekday will always be cheaper.
I know this is not ideal. for everyone
If you go for less popular days like a weekday in Las Vegas, you will get the top hotels like the Venetian at a great price.
Keep in mind that cities like Las Vegas hotel rates vary wildly from day to day.
Use hotel flexible calendars to find the cheapest rates again.
Here are other tips to save money on hotels:
- use points or points/cash
- use hotel calendars to find cheapest days
- sign up for hotel promotions
- get a hotel credit card
- have a AAA membership
- stay father from the city center
Summary
Waiting for hotel prices to drop is one of my top methods to save on hotels besides being flexible with dates.
It has a high success rate for me.
Again, on my Vegas trip last month, I had no plan of paying $300 or more for Las Vegas when I know top hotels there can usually be gotten for $200-$250 on the right date.
I am back to flying every month again.
My trips are short to start (usually 2 days).
My Vegas trip was just a day and a half because I came back on a red eye flight.
This trick saves me hundreds, so I hope you use it.
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