Savings of up to 60% on flights and 47% on hotels at optimum time Continue reading
KAYAK data points British bargain hunters to best time to book
The latest analysis of dynamic flight and hotel prices by KAYAK has revealed when bargain hunters should book to secure the best deals.
The leading metasearch site releases the statistics to promote its price alert and forecast services and ‘Best Time To Book’ page which it provides to help travellers shop around.
Figures released this week revealed that Brits can save up to 60% on flights and 47% on hotel bookings if they book at the right time.
And the data reveals that dynamic pricing means that it’s not necessarily the case that booking early or leaving it late is the right strategy.
KAYAK found booking eleven months ahead of travel is the most expensive time on average to book flights to popular long-haul destinations.
For flights within Europe the price comparison site says booking six months out is “usually a safe bet”. Only Spanish favourites Alicante and Tenerife buck this trend.
For the former KAYAK advises Brits should book eight months in advance to access savings of up to 18% compared to the most expensive month.
For Tenerife the prime booking period is seven months ahead when savings of up to 32% are possible.
Some destinations offer late-booking deal with flights to Faro and Arrecife booked just one month before departure found to offer possible savings of up to 26% and 37% respectively.
The biggest savings for the top ten destinations in Europe were for flights to Reykjavik with bookings five months out found to offer possible savings of up to 60%.
KAYAK says Turkey is “undeniably back on the radar for British travellers”. Flights to Dalaman booked one month in advance come with a possible savings of up to 17%, the site said.
Long-haul flights offer potentially bigger savings for bookers who time it right and better savings the further out from time of departure compared to short-haul.
Booking ten months in advance for Tokyo can see savings of up to 14%, eight months for Auckland (up to 15%), and seven months for Sydney (up to 17%).
The most expensive time to book for most popular destinations is eleven months before travel, with the exception of Tokyo, where one month in advance is the costliest time.
Optimum timings for bookings for the US differ to other long-haul destinations.
Half of the top ten most popular international destinations for Brits in 2019 are in North America and, for all of them, the cheapest time to book is between one to four months in advance.
Orlando tops the rankings for possible savings, with bookings one month before travel offering savings of up to 27% compared to the most expensive month.
KAYAK reported that Las Vegas made a strong come back with the best time to book being close to time of travel, with potential savings of up to 19% booking one month ahead.
For all of the top destinations in Europe and worldwide, mid-week travel was found to be the cheapest choice.
For example, departing for Reykjavik on Tuesday and returning on Wednesday can lead to savings of up to 68%, compared to flying out on Saturday and home on Friday.
For worldwide destinations, mid-week travel is also best, with savings of up to 34% possible compared to the most expensive travel day combinations.
KAYAK also found it is cheapest to book three and four star hotels just one to two months in advance in seven of the top ten European destinations, for savings of up to 36%.
The same rule applies for six of the top ten worldwide destinations, although some do not follow this trend, like Denpasar where savings of up to 47% can be found on accommodation booked six months out.
Cassian Silins, senior director for KAYAK, said: “A little planning and know-how goes a long way when it comes to your travel budget.
“You might think that booking as far in advance as possible is always the way to go, but we’ve found that it really depends on which part of the world, and which destination you’re travelling to.
“This is because flight and hotel prices work on a dynamic model – meaning that prices tend to be highest when there is most demand to book.
“For example, Florida is a popular family holiday destination – and most people want to get their big summer family holiday confirmed a long way in advance.
“That means those who are prepared to wait can save big. Other destinations tend to see most bookings made closer to the time of travel, so booking a long time in advance can be the way to go.
“By sharing the right times to book and travel to each of the most popular destinations for 2019, we want to help British travellers feel confident when they kick-start their holiday planning for the year.
“Equipped with this knowledge and along with our tools such as our Price Forecast and Price Alerts, travellers can really know they’re making the right decision.”
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