When is the best time to book hotels for the best rates? 30-60 days out? Week before?

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I will teach you about hotels.
There are generally 3 pricing strategies: Rampup, Date protection, trading.

1)Ramp up: They start with low rates once they open reservations for a date (like 1 year in advance) based on seasonality (it has at least 2: weekly and yearly, so the same hotel can have different rates for a wednesday than a saturday in the same week, and for july or february). Once the hotel start filling, they raise automatically: once they reach 20% for example they raise a 10% (buckets depend on the hotel).
2) Date protection: they start with a high rate when they open reservations, always higher than competitors. Those who are booking 1 year in advance do really need to go there. Once the date approaches (1-2 months) they reduce rates if they didnt fill as expected or raise more (also based on buckets). They expect most of the reservqtions on the last 60d (many on the last 7d) prior to the date.
3) Trading: they base on algorithms, demand estimations, competitors prices, cross elasticities... there is no simple way because they can vary the price 2 or 3 times per day to adapt to most busy hours of different markets.

This is the case for open rates (like in booking or their own website). For agencies or companies they might have fixed rates.

helpfullike

Marriott operates a franchise model if i recall.
I would expect that
1) they have fixed rates across the chain for business and some agencies.
2) depending on the hotel (or even the hotel-season) they will use one or other strategy.
3) I would expect both of them to have adopted "trading" strats in some hotels allready. They probably have an army of revenue managers working on it.
My go would be: Book via booking as soon as possible (i have a genius discount like 15%). Book with free cancelation. Monitor the prices and if they do a flash offer, book and cancel the previous one.
However, i would not expect pruces to drop for this summer, demand is high everywhere.

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