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If you've spent months congratulating yourself for booking that summer hotel way ahead of time, we've got irritating news: waiting until the last minute may actually have been the smarter move.
A new report from Hotels.com shows that travelers who booked hotels just days before their trip saved an average of 23 percent compared to people who locked in reservations more than four months in advance. Even better, the sweet spot for scoring a deal wasn't some dramatic same-day gamble: it was booking roughly eight to 14 days before arrival.
The findings come from the company's annual Hotel Price Index, which evaluated booking data, app usage trends and a survey of 11,000 travelers worldwide. And while Americans are still eager to travel this summer, the report shows that many are approaching vacation planning with a new level of financial strategy.
Searches using budget filters have risen more than 1,800 percent, while searches tied to rewards programs have jumped 820 percent as travelers increasingly use points and loyalty perks to offset costs. Instead of simply looking for the cheapest nightly rate, many are prioritizing extras that reduce spending once they're on the ground, including free breakfast, meal plans and all-inclusive packages.
Hotels.com also found that Sunday is now the cheapest day to begin a hotel stay in the U.S., with average rates running about 15 percent lower than Friday check-ins. January is still the least expensive month for hotel stays overall, while the second week of October has become one of the year's priciest travel periods thanks to fall foliage trips, long weekends and school breaks.
The report also suggests luxury travel isn't disappearing, but the definition is changing. Travelers say they most often book four-star hotels and when asked what they associate with a luxury stay, the top answer wasn't a butler or a private pool. It was simply a room with a great view. Gen Z is leading the charge, with 34 percent saying they've booked a five-star hotel, making them the generation most likely to splurge on luxury accommodations.
And for travelers willing to look beyond the U.S., luxury can be surprisingly affordable. International five-star hotels now average about 23 percent less than comparable domestic properties. Hotels.com highlighted destinations including Porto Alegre, Brazil, where five-star stays average around $90 per night; Nha Trang, Vietnam, at roughly $119 per night; and Phuket, Thailand, at about $144 per night. (By comparison, New York City averaged $332 for a five-star stay.)
There are still some bargains hiding out, though. Hotel rates have fallen year-over-year in destinations including Maui (-27 percent), Las Vegas (-10 percent) and Park City (-8 percent), while international hotspots such as Italy's Liguria region, Leipzig, Germany and Hanoi, Vietnam have all seen significant declines.
In the end, summer travel isn't necessarily getting cheaper—but travelers are definitely getting much better at finding the deals.