Do hotel rates go up like plane tickets?
Hotel Rates
city_savvy asked:
I bought plane ticket to NYC in mid-December to lock in some low rates. But I’m wondering if hotel will go up as well? The one I’m looking at hasn’t raised their rates in the last month. I know if I get them last minute, that’s bad. But is it safe to wait until October or November? I’d rather wait to save a bit instead of putting it on my credit card now.
Lance
I bought plane ticket to NYC in mid-December to lock in some low rates. But I’m wondering if hotel will go up as well? The one I’m looking at hasn’t raised their rates in the last month. I know if I get them last minute, that’s bad. But is it safe to wait until October or November? I’d rather wait to save a bit instead of putting it on my credit card now.
Lance
December 1st, 2008 at 11:06 pm
It may go up and some times hotels may be fully booked and its all depends on various factors the area, season etc.. It is good to book early if you are fixed at some hotel.
December 3rd, 2008 at 1:36 pm
They can go up and down on a daily basis.
At my hotel we adjust our prices daily depending on wether we are selling a lot of rooms or need to pick up on business.
It varies between hotels what they do.
Sometimes you’re better off buying early, but sometimes you are better off buying on the day of your stay.
It’s a bit of a gamble. Call the hotel and ask how many rooms they have left on the day you’re looking at and then make a decision if it’s worth the risk of waiting.
December 5th, 2008 at 1:36 pm
They may go up because people go to NYC during Christmas time.
December 7th, 2008 at 10:26 pm
Its supply & demand - if they are busy, the rates will go up.. if they are not, the rates will come down. If mid-december is a busy time, then you should probably lock it in now.
Call the hotel a couple of times over a week & ask for their cheapest rate for the time - it will probably vary, if you want to book, then tell them the cheapest price that you’ve been quoted.
December 9th, 2008 at 7:18 pm
If you are absolutely sure of your travel itinerary then I would try and book now on Priceline or hotels.com or a website like that that offers real cheap rates, but the catch is that you are usually not able to cancel or modify your reservation once made. And…mid-December you might run into weather delays. A gamble, but you can get a hotel room pretty cheap.
Otherwise, if you’re just booking through a hotel website, I would read the cancellation policy. Just because you book a room with your credit card does not mean you have purchased that room. You have simply guaranteed it. At the hotel I work at our prices vary daily, depending on demand. Our forecasting also varies, so we may change our strategy a dozen times before the actual date comes. Our cancellation policy reads that you must cancel before 4pm the day of your arrival. So our guests will book a room say 2 months ahead of time and keep checking the website. If they see a lower rate come up they simply cancel their reservation and make a new one for that lower rate. This strategy only works if the cancellation policy is flexible. If you get an advance deposit rate or a pre-paid rate you may not be able to do this.
Good Luck!