Find out if it is better to book early or last minute when bidding on a hotel room on Priceline.
One of the most common questions asked in the Priceline Discussion Forum is, “How far in advance should I bid on Priceline for hotel rooms?” Prices for hotel rooms fluctuate wildly, and this can mean paying too much. On the one hand, what if you book your hotel and then prices drop? On the other hand, what if you wait too long and prices increase. Thanks to travelers discussing their strategies for better bidding, here are some helpful tips to help you decide how far in advance to bid on Priceline.
The two biggest factors affecting when you should bid on a hotel room are: how flexible you are regarding location, and how busy your destination will be on your travel dates.
Flexibility
Priceline sells off excess hotel inventory. When a hotel has excess capacity, they sell their room on Priceline. Because you never know what hotel you will receive, I recommend only booking on Priceline when you are flexible on location. If you need a specific hotel or a specific location, it is best to book elsewhere.
Hotels tend to list their inventory on Priceline 2 to 3 months out. As a result, selection is best 1 to 3 months before your travel date. Book too early and selection may not be great, as hotels prefer to sell their rooms through other (higher paying) channels such as their own website and other online sites. However, book too late and and selection may be limited.
If you are flexible on your location, it is best to book between 4-6 weeks in advance of your travel date. This is the sweet spot when hotels are looking to fill their vacant rooms, selection is good and prices are reasonable. Book too early (more than 3 months in advance) and selection will be limited. Prices are usually higher the earlier you book too.
It is best to book between 4-6 weeks in advance of your travel date.
Sometimes, it pays to book last minute. The problem, however, is that this can backfire on you. In some cases, selection dries up and prices increase. Therefore, I recommend only booking last minute if you are prepared to take the risk of not getting a hotel or having to pay extra. Find out how much other travelers have paid for their hotel room on Priceline.
Seasonality and Occupancy Rates
It is worthwhile to find out how busy your destination will be during your travel dates. Are you traveling during peak season or events that will cause an influx of visitors? Peak travel season, spring break, conferences, and other major events and holidays can have significant implications on the availability and price of hotels on Priceline. If your destination will experience high occupancy rates due to an influx of travelers, I recommend booking at least 2 months in advance, and ideally 3 to 4 months in advance.
If you are traveling during low season or shoulder season, bidding on Priceline 4 to 6 weeks in advance is ideal.
Book at least 3 to 4 months in advance if your destination will experience high occupancy rates.
Your destination also plays an important part in how far you should book in advance. Hotels in popular destinations such as New York and London always have a high occupancy rate and may be sold out if you book too later. During peak periods, it may be necessary to book even earlier than 4 months in advance. On the other hand, there are so many hotels in Las Vegas that you can always get a room on Priceline no matter what the occasion.
Bid Better By Having a Backup Plan
Priceline’s Name Your Own Price hotel rooms cannot be cancelled or change. Therefore, if you are going to wait before booking, I recommend having a backup plan. Book a hotel elsewhere that can be cancelled. This way, you have a hotel room locked in, and can wait for a better deal by bidding on Priceline. If you find a better deal, grab it and cancel your original reservation.
As a general rule, I recommend a better bidding strategy of booking 4 to 6 weeks in advance of your travel dates. If your destination is experiencing a peak period or you simply want peace of mind, book earlier. Booking up to 4 months in advance may be required. While it is possible to get last minute deals by waiting until the last minute, selection can be very limited and in some cases, you may end up paying more. If you choose to hold out for a better deal, book a refundable hotel that you can use as a backup plan.
Find out what hotel others have received on Priceline by visiting our list of actual Priceline hotels. This website (HotelDealsRevealed.com) gathers winning bids from actual Priceline customers and posts the name of hotels to help travelers reveal their hotel before booking.