Looking at more than 2,500 hotel room rates between 2019 and 2021, NerdWallet found rates were about 13% cheaper when booked 15 days before compared to four months before.The savings were even higher for luxury hotels: About 22% cheaper when booked 15 days out.
However, if you're traveling to a popular destination or during a busy travel season, you risk not snagging your first-choice hotel. You may get stuck at a hotel further away from your destination — the beach, Disney World or a sporting event may be a little harder to get to if you wait too long to book.
But with skyrocketing travel prices, booking your hotel at the right time could mean the difference in how much cash you have in your pocket for the rest of the trip.
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