TripAdvisor reveals best time to book Hotels
TripAdvisor 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.
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.
“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.”
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.
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.
Asia was one of the nine regions and booking a hotel within three months of summer trip was revealed as 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.