Many people believe that the only way to save money on hotel and resort reservations is to book their vacation as early as possible. While it is true that booking early can help you to lock in a lower price for many services, the truth is, you may be able to get an even lower rate by waiting to the last minute. This is especially true when it comes to services which operate on the laws of supply and demand, such as those found in the travel industry. Below you will learn more about how you can use these economic laws to your advantage when planning your last minute trip.
Discover The Power Of Negotiation
Unlike many products and services, hotel rooms do not come with one flat rate attached to them. Instead, hotels and resorts experience rate fluctuation throughout the year due to the varying demand that is placed on their services during different time periods. When the demand for their services are high, the rate per night will increase. However, during slow travel periods, the rates associated with these same rates will drop considerably.
In order to remain profitable, hotel and resort managers are charged with the task of filling as many rooms as possible each night. If a large quantity of rooms are left unoccupied going into a particular week, the manager will often be willing to negotiate a lower rate per room in order to ensure the hotel is filled to capacity. When planning a last minute vacation, you can use this fact to your advantage.
If you are not comfortable picking up the phone and haggling with the manager directly, you may wish to consider using an online service that is willing to handle the negotiations for you. When using these services, you simply make an offer on the room you want and the site takes care of contacting the hotel. If your offer is accepted, the reservation is made automatically on your behalf. If the offer is declined, you will likely be contacted with a counter-offer which you can choose to either accept of decline.
One Man's Misfortune Is Another Man's Opportunity
Most hotels and resorts will have a deadline by which all reservations must be cancelled in order to get a full refund. Unfortunately, not all travelers will be able to comply with these deadlines and may be forced to cancel their vacation at the last minute due to an emergency. While this is quite unfortunate for the person who is forced to cancel their travel plans, it can also be a wonderful opportunity for you to save money on your last minute plans.
In many cases, individuals who are no longer able to make use of their own reservations will be willing to sell their vacation services for a fraction of what they paid for them. This allows them to recoup a portion of their investment rather than losing all of their money due to the fact that the refund deadline has already past.
Contacting a local travel agent or outlet (such as The Breakers Hotel) can help you to locate passengers who were forced to cancel their travel plans and may be willing to sell their vacation services at a bargain price.
Share