A new study has found that booking hotel rooms at the last minute in Europe leads to bigger savings.
Planning a trip to mainland Europe has become easier—and cheaper— in recent years with the help of budget airlines, price comparison sites and more competition. With that said, the prices of hotel rooms has regularly led the being the biggest outgoing of a holiday.
With a lot of travellers swapping the higher prices of hotel rooms in favour for room share, hostels or Airbnb, a new study conducted by SAP Concur has found that savings of up to 30% can be made on some careful planning… planning to leave it to the last minute, that is.
Chris Baker, a managing director of SAP concur, wrote: “Quite simply, travellers are losing money by booking earlier than when prices are at their lowest,” in a blog post when discussing the new study. “SAP Concur’s 2017 hotel data for [Europe, the Middle East, and Africa] shows that the lowest median rates can be found 0–3 days out, but most rooms are booked 15–30 and 30-plus days out,” he adds.
Baker goes on to argue that travellers, if they have the ability to hold their nerve, have can make major savings across most hotels in Europe if they can avoid booking a room until at least seven days before they travel. Discussing further, Baker suggested that the braver travellers will find best hotel rates on the actual day of their trip.
For those of a nervous disposition, Baker said the study also found that booking “within the cancellation period” of European hotels policies will gain fruitful results. He says this period “typically falls between 24 to 48 hours in advance, making more inventory available for lower rates.”