Is It Actually Cheaper To Book A Hotel At The Last Minute?

For all the travelers with extremely detailed, color-coded spreadsheets; for the ones painstakingly rolling clothes to maximize suitcase space; and yes, especially for the ones arriving at the airport five hours before a flight — this might not be the news you want to hear: Booking in advance, at least when it comes to hotels, isn't going to keep more cash in your wallet.

There may be instances where you feel compelled to book your hotel early. Maybe there's a boutique property you've had your heart set on, and you'd never forgive yourself if it got booked up. Or perhaps there's a family wedding next year with a limited, pre-arranged room block. These occasions may require you to lock in that room well ahead of time.

But if you're willing to wait it out and book at the last minute, it's possible to save big. When the calendar hits T-minus two weeks before heading to vacationland, you just might capitalize on double-digit savings.

The devil is in the data. And the data says booking at the last minute is, well, just better. NerdWallet analyzed data from 2,500 nightly hotel rates over the course of 2019 through the first half of 2021. That data compared the cost of booking four months in advance to 15 days in advance and found that 66% of the time, booking closer to your departure was cheaper. How much will you save? On average, travelers would save about 13% when booking at the last minute.

For those avid planners, we'll throw you a bone. When it comes to saving money while booking flights, a little forethought goes a long way. For domestic jaunts, the ideal window is one to three months before departure. Regarding international trips, you'll want to book a bit farther out, about two to eight months before takeoff. For both domestic and international, if a major holiday or special event is thrown in the mix, booking even a few months earlier is wise.

Vacation is a time to treat yourself, and the study agrees. One key differentiator in the NerdWallet findings was that travelers were bound to save more money on luxury hotels when booking last minute. The average savings came to around 21.6%, more than double that of a mid-tier hotel and more than quadruple that of a lower-tier hotel.

As for other ways to save? Keep an eye on travel deal sites. Having worked at both Travelzoo and Hotwire, I can assure you that some of the beefiest savings I've reaped were thanks to deals I scored at the last minute. Making a note of savings-forward travel events, like Travel Tuesday, is also a smart idea.

And per my earlier mention of peak travel windows, like holidays and school breaks, it's best if you can avoid those altogether. Try traveling during shoulder season. For example, opt to explore Greece in October versus July, as prices for everything from hotels to accommodations and attractions tend to cool down during the off-season in tourist hotspots.