When should I book travel?

One of the most frequently asked questions in the travel industry is…when should I book travel?

While countless articles claim to tell you when is the best time to book airfare, the truth is that it’s an issue of supply and demand. When should I book travel? As much as airlines think they know how flights will be filled, many factors can influence consumer decisions.

Most discounted tickets are non-refundable. If you don’t mind booking early, you may be able to secure a lower fare later.

While flying:

For frequent travelers there is always the possibility of purchasing a new, less expensive ticket when the price drops. Keep the original ticket safe for future travel. This requires both cash flow and certainty that there will be an opportunity to use the original ticket.

To sail:

Increasingly, cruise lines charge some penalty for cancellation, but it is usually quite minor until final payment. So one option is to check for lower prices before final payment. However, sometimes offers are only available for new bookings. So there is no guarantee that we will be able to continue sailing the same even if we have sails.

hotel:

On the other hand, most hotels, even those that require a deposit, can usually be canceled and rebooked at a lower price. Occasionally I’ve seen “for new bookings only” promotions, but they’re rare and hard to enforce.

A warning to those who book hotels early.

Increasingly, some sales have non-refundable rates. In some cases, it’s just one night; Dates are subject to change in some cases. Sometimes not only is the entire stay non-refundable, but there is also no change. And as many travel advisors know, either because of our errors or because of clients asking for help, it’s easier than you think to accidentally book such a rate.

But waiting and not booking a hotel means the price may increase.

Enough. I have had clients ask me about Las Vegas hotels for the February through October concert weekend. I sent them several rates, but they were too busy to decide. When they got back to me in late December, hotel rates had increased by more than 50 percent.

Yes, rates go down.

But the advantage of booking in advance is that as long as you pay attention to the cancellation deadline, it’s easy to cancel and rebook if the rates drop. And if, when checking, you see that they have gone up, you may feel especially satisfied after finding a great deal.

It’s easy to cancel and rebook Ditto car rentals.

So it never hurts to double-check to get the best guaranteed rate.

(And note, there are pricing tools that some travel agencies use that theoretically notify you when prices drop, though they may or may not take effect if there are cancellation penalties on your booking.)

Short version: Grab the deal.

If a travel deal sounds good, and is within your budget. Or if there is no penalty or very little penalty, accept the deal. Can you check the cancellation deadline and get a place? If nothing else, you’ll save time later.

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