Based on the massive amount of data it collects, TripAdvisor has released its “Best Time to Book Report” highlighting pricing trends in accommodation over time.
*Please note, information validated as at April 2016 and may be subject to change.
The research showed that the best time periods to book can vary depending on the region or city where the traveller is looking to visit for the northern 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.
“Travellers 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 travellers can use these insights for significant savings when booking their hotels for summer.”
TripAdvisor analysed hotel booking and interest in nine popular regions around the world for the northern hemisphere 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 25 popular cities and world regions when comparing the least expensive to most expensive times to book hotels for summer.
Best time to book hotels by city
- 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
By region
- South Pacific savings inside 5 months – For summer trips to the South Pacific, travellers can save 19% or more per night by booking within 5 months of their travel date.
- U.S. hotel rates consistent but travellers 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 – Travellers 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 travellers 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 travellers 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 travellers can save 7% compared to peak price weeks.
- Inside 4 months ideal for South America – Travellers 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 travellers 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 – Travellers 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.
