Traveling and hotels are two of the most important and intertwined industries in the world. In fact, the travel industry provides 8.6 million jobs and generates $157 billion in taxes for federal, state and local governments.
The growth of this industry has been fueled by globalization, digitalization and sustainability concerns. The COVID-19 pandemic, however, has had an impact on consumers’ travel plans by reducing demand for air and ground transportation and lodging. In addition, more people are seeking travel experiences that are more sustainable and ethically-sourced.
When it comes to lodging options, travelers have a wide variety of choices. They can choose from opulent and iconic grand hotels, quirky and cool-minded boutiques, picturesque inns right out of a storybook or all-inclusive beachside resorts. There are also unique options like treehouses, igloos and caves that can give travelers a once-in-a-lifetime experience that is both adventurous and affordable.
One of the best ways to save on hotel costs is to be flexible with your dates. Oftentimes, booking a room on the weekend or during the peak season will be much more expensive than if you book during the week and off-season. Many hotels are willing to cut prices and offer perks in order to fill rooms during slow periods of the year, so it is always worth checking out off-season rates and negotiating with the hotel directly.
It is also important to remember that if you book through an online booking website, you may be paying higher fees than booking directly with the hotel itself. The major OTAs typically take a larger percentage of the total cost than the hotel does, and this extra charge can add up quickly. It is recommended to book directly with the hotel if you can, or if you are already a member of their loyalty program, you may be able to use your loyalty account number to get a better rate.
Another way to reduce costs is to prepay for your stay. Many hotels offer lower prepaid room rates, which are usually nonrefundable. This is a good option for travelers who know their travel plans are set in stone, but it can be risky for those who might be tempted to change their mind at the last minute.
Whether you’re looking for an opulent and iconic grand hotel, a quirky and cool-minded boutique, a picturesque inn right out of a storybook or a unique hotel experience, these tips can help you find the best accommodations at the most affordable prices. Be sure to check out our 2024 Top New Hotels list for inspiration.