A LoyaltyLobby reader shared with me by email what he had been going through with a number of recent hotel reservations.
Hotel prices are no longer necessarily cheapest if booked long in advance especially when the occupancy rate is low. This same applies for the airline tickets as well. But at the same time,if the hotels are filling up fast, there is no limit how high the price may go.
Here’s the email:
I recently read your message regarding the Hilton MVP program. As a diamond member I use this code on 95% of my stays with no problems.
We recently went to New York on Vacation and stayed at the Hilton Times Square on the MVP rate. We booked 3 nights at $185.00 per night.
Two weeks later the rate fell to $155.00 per night. We booked at the lower rate and cancelled the other.
Now, 2 weeks later the rate fell again to $135.00, so we of course booked and canceled the higher rate.
We book in advance but always check before we leave for our destination. I guess the moral of the story, don’t think you got the best deal the first time, as rates change daily.
We did this at the Hilton, Double Tree Center City and the Conrad. Total saving by keeping an eye out was over $400.00 for the week.
MVP rocks, but you have to work a little.
Hotel rates, especially those in New York City, are entirely dependent of the demand. They can be extremely high or they can be something very reasonable. It all depends.
It does take some time to check the rates weekly and rebook if the price has gone down. As the reader noted above, this can save you some significant cash, however. You can read more about the MVP rate that he is referring to here.