While some travelers believe that tracking hotel prices may be the best way to get the best overall price, others put their faith in lowest price guarantees, hoping to make their claims if (or when) the hotel price goes down. Is there truly a best option for the traveler who wants to save the most money?
As with all things in the frugal travel world, ultimate savings is based on how much time and consideration travelers want to put into pricing their adventures. Let’s evaluate both options to see which makes most sense for travelers.
Tracking Prices: Watch Over Time and Book Later
When it comes to booking airfare, one of my favorite things to do is track prices as they change in real time. Through a number of apps or even Google Flights, I can setup regular alerts when airfare prices drop, allowing me to book in real time. Recently, another application launched allowing users to automate the hotel tracking process. Prior to that, the process of booking hotels required travelers to manually search for their hotel prices. Does tracking prices work?
For those who have plenty of time before their stay, waiting to book until they find the price they want to pay can work out to the lowest possible price. By waiting, travelers who want to take advantage of points multipliers for prepaid hotel rooms – such as the 5X muliplier offered on The Platinum Card from American Express on bookings through American Express Travel – can get an influx of points based on the price they are most comfortable with.
Although there are good things that come from booking forward, there are also some difficulties that come as well. For instance, waiting does not guarantee the best possible price, meaning those who wait could end up paying more in the end. In addition, with waiting on prepaid deals, there are rarely refunds if the price goes down, meaning travelers are locked in for their price.
Best Price Guarantees: Great for Loyal Travelers, But Beware Stipulations
Another option is booking early at a good rate and watching for a better price using a hotel chain’s Best Price Guarantee. Many chains claim to offer the best price through their booking channels and put their money where their mouths are with an offer to match prices and offer an incentive if travelers find a better price somewhere else.
The pros of using a best price guarantee are evident: travelers have the opportunity to book their hotels as soon as their travels are confirmed and potentially recover costs if the prices end up going down. In addition, through booking direct with a hotel chain, travelers can ensure they get all the benefits of their loyalty, from earning the most points to getting benefits including free wi-fi.
To earn the best price guarantee benefits, there is a hurdle to contend with. In order to get a hotel chain to honor the best price guarantee, travelers must find the exact same room and booking type for a lower price. If anything is different, then travelers may not necessarily get the same price back.
At the end of the day, is one better than the other? For those chasing the final loyalty holdout at hotels, the best price guarantee may offer the best opportunity for travelers. Those who are simply looking for the overall lowest price have time on their side – and can afford to book their hotels when the time and price align.
Which method do you subscribe to – tracking prices, or trying to get the best price guarantee? Let me know your thoughts in the comments below!
Written by Frugal Travel Guy @ http://www.frugaltravelguy.com
Written by Frugal Travel Guy @ http://www.frugaltravelguy.com