TripAdvisor reveals the result from its ‘Best Time to Book’ report, showing that travelers can consistently find and book the lowest hotel prices for trips between June and August this year.
To glean these insights, TripAdvisor analyzed historical hotel pricing data to identify the time periods offering the lowest rates on hotels in popular destinations around the world. The “best time to book” is when hotel prices were consistently less than the destination average.
Some findings from ‘Best Time to Book’ that might help you gain some insights are:
For a hotel in Asia, travellers booking within five weeks of their trip can save as much as 22%, compared to early year peak rates.
While early birds tend to do better when booking Europe, travellers thinking about visiting Paris and London in August can book within five weeks of their trip to save up to 23% and 25%.
Last-minute planners can find hotel savings when booking within one month of their trip to many U.S. destinations, including New York City.
Top destinations where booking during the right time can make big savings for travelers are:
What we see is that for some destinations, the rates come down the closer we get to the visit, while in others the cheapest window comes much earlier, with rates then beginning to rise as the visit draws near. Understanding the prevailing patterns for your own destination is therefore a key element in your marketing and distribution strategy. Get it right, and you can stay ahead of your competitors by offering the right rates at the right time.
Best Time to Book windows and hotel savings compared to peak rates based on TripAdvisor pricing data from July 2016 through August 2017.
Average June – August hotel pricing based on TripAdvisor pricing data from January 1 – April 15, 2018.
All prices have been converted from US Dollars to SG Dollars on 30 April 2018 via xe.com.