Research shows hoteliers jump up their prices between 10 and 14 days before travel to maximise their revenue on last minute bookers
Tech gurus have analysed the rates hotels rooms in London were on sale for over the Easter break to find out when is the best time to book. The results show that booking three to four days in advance of your trip can ensure the best rate, compared to those who book even a couple of weeks before travel.
But, the warning to bargain hunters is to hold their nerve. The data produced by hotel revenue management technology provider OTA Insight shows that hoteliers jump up their prices between 10 and 14 days before travel, to maximise their revenue on last minute bookers.
Based on a hotel stay in London on Easter Sunday, the price was nearly 10% higher two weeks before travel, than it was four days before travel.
For those who don’t want to take a gamble on availability, booking anywhere between 100 days (just over three months) and two weeks before travel is a great window to achieve good value.
With a raft of Bank Holidays coming over the summer months, try these top tips from OTA Insight to ensure that best possible rate is guaranteed when booking a London hotel over a peak travel time, such as a bank holiday or weekend:
Start your research around 100 days before you travel and keep an eye on the prices. If a favourite hotel dips more than 10 per cent lower than the first price you saw it at, book it. It is unlikely to drop much further than this. Generally between 100 and 14 days before travel, rates are relatively static
Do not book hotel rooms between 14 and 10 days ahead of travel – this is when hoteliers know that last minute travellers are looking to secure their plans, and they put the prices up accordingly
Try to accommodate an off-peak day within your trip – Sunday nights in a normal weekend are usually lower in price, and for a Bank Holiday weekend the Monday evening will also be much cheaper than those with a public holiday or weekend day following
If you don’t mind which hotel you stay in, wait until 3-4 days before travel to book. Hotels with availability will be at their most affordable rates
Don’t hang on to book until 1-2 days before travel – hotels know that anyone trying to book needs a room, and can jump up their prices knowing that urgency might overcome budget for many travellers.
Information is based on data pulled for 15 and 16 April 2017, from 197 hotels in London based on 3, 4 and 5 star hotels.