There is a much debated topic among travelers as to whether or not it is advantageous to wait until the last minute to get a better discount on a downtown Vancouver hotel room or Toronto Airport Hotel. There are two schools on this idea, & each makes valid points as to whether or not earlier is better. The Last Minute Booking Position: Many will argue, that it is in fact, better to wait until the last moment to book your hotel room, as often you are able to save a significant amount on the rate. The reasoning behind this argument is simple. In the instance of a Toronto airport hotel, often when there is excess inventory the day prior or same day, a hotel will dramatically drop rates in order to prevent rooms from going empty.
In the eyes of the hotelier, it is better to get something for the room as opposed to nothing, provided operations costs are covered. The “pros” of this theory • often hotels can drop rates up to 50% of the regular sell rate, resulting in large discounts for the traveler – nice perk in the case of a Toronto airport hotel The “cons” of this theory • By waiting too late, you may find the hotel is sold out • By waiting to book, you may find that specific room types are no longer available The Early Booking Theory On the other side of the debate, is the belief that the farther out you book, the better deal you will receive. Again, in the case of a Toronto airport hotel, it is speculate that the more rooms which are available, the lower the rate will be. As the hotel draws closer to the date of arrival, & the amount of rooms available for sale decrease; often hotels will raise rates. Always remember that hotels subscribe to the law of supply & demand; as the supply decreases the prices typically increase. Article Source: http://EzineArticles.com/3932462
