If you’re familiar with flight-booking hacks, you’ll know that there’s often a sweet spot for when to make your reservations. Though the best time to book varies according to season, destination, and even the type of airline, one trend remains constant: Booking flights last-minute usually means you’ll shell out more. But it’s not always the same with hotels, which also operate on dynamic pricing strategies, but with different factors at play. Here’s what the data says about the best time to book hotel stays.  

When Last-Minute Booking Makes Sense

As properties look to fill unsold rooms, they often slash prices at the last minute. According to travel experts interviewed by Travel + Leisure, vacationers who booked within a week of their summer trips saved an average of 25% to 35%. However, that won’t always be the case (more on that below). Other travel experts suggest that 15 days ahead is, on average, the sweet spot between scoring low prices and retaining some choice about where to stay.

Travelers can use dedicated websites and apps that specialize in last-minute bookings, such as LateRooms, lastminute.com, and HotelTonight. (Just be aware of the downsides of booking with a third-party versus booking direct.) They’re an easy way to find out how the inventory is looking and what choices you have. It helps to be flexible with the neighborhood and to consider less popular room types, such as those lacking a view. Consider what’s important to you: price versus location, design, or particular amenities.

What About Vacation Rentals?

It’s a similar story if you prefer to use a vacation rental platform such as Airbnb. The finance decision-making specialists at NerdWallet carried out a survey that compared prices for U.S. Airbnb rentals from March 2025 to February 2026 and found that the sweet spot to book was three days ahead of a planned stay. Quoting prices for a one-bedroom unit, NerdWallet found the median price was $130 per night three days out, while booking even just a month ahead worked out to be at least $19 more per night. If you’re the type of traveler who likes spontaneity, this strategy can result in significant savings for your vacation budget.   

Be Wary of Events That Can Spike Demand

On the other hand, sometimes booking last-minute can backfire, particularly if you’re heading to a popular destination at the height of peak season and accommodations are limited to begin with. It’s also important to check if there are any special events, such as a significant sports game or a big-name concert, which might further limit hotel inventory. 

Take the example of Iceland: In the summer, demand for accommodation is always relatively high. But with a solar eclipse due on August 12, 2026, rates have soared because of overwhelming demand. In fact, some hotels in the remote Westfjords sold out two years in advance. If you’re flexible with your dates, you can find a better variety of accommodations and cheaper deals by traveling during lower-demand periods, known as the shoulder season.

Book Further in Advance if You Have a Particular Room in Mind

Some vacations are extra-special. In cases like this, if you have your heart set on a particular hotel, it pays to make your reservation sooner rather than later. Precisely how far in advance depends on how unique or desirable the accommodation is that you’re considering. Do some research well in advance to see whether there’s a hotel room that you’d be disappointed to miss out on. If there are plenty of options that you’d be happy with, there’s no need to settle on one of them months before you arrive, as you may be able to find a better deal by waiting.

Book With Free Cancellation as an Insurance Policy

While some hotels offer cheaper rates in the form of nonrefundable, nonchangeable bookings, these are not always the best value — because you might end up paying more if your plans change. According to a recent survey by Phocus Wright, seven out of 10 travelers prioritize flexible booking terms. Luckily, many hotels and online travel agents (OTAs, such as Expedia) allow travelers to reserve hotel rooms with free cancellation up until a certain date, even relatively last-minute. This varies according to the specific property. Some may require you lock in your plans up to a month in advance, while others allow you to cancel one or two days before without penalty. 

The latter type of reservation can be a useful tool for scoring a deal. In the days leading up to your stay, periodically check hotel booking comparison sites and the hotel’s own website to see if you can find a cheaper rate. If you manage to find the same room at a significantly lower price, or simply change your mind about where you want to stay, you’ll be able to cancel your original reservation free of charge.