The Price information presented on this site should be read like this: The X-axis is how many days in advance the hotel is booked, the Y-Axis is the average price.
In the above example if you wanted to book a hotel for this Monday and it is currently Tuesday (6 days ahead of booking). First you would select Monday from the list of days and then see the average historical price you would expect for this hotel on Hotwire would be on column 6: $75. If you wanted to book on the same day(0 days in advance) on Monday the average hotel rate would be $78.
You could also use this historical price info generally to know what days have the cheapest rates and if you’re getting a better than usual deal.
Hotels rooms always sell for a range of prices up until the day they are occupied. When you are booking a hotel room you are getting a price that could be on the low or high end of that range. You may never know for certain, but we have developed a tool that will help you get as close to that knowledge without breaking in and looking at the hotel’s books.
We collect past prices for hotels that are available on Hotwire and display this information using line graphs to chart the history of hotel prices. You can see what days in the past had the best prices and how many days in advance to book the hotel before a significant price increase, or how late to book when the hotel begins to panic and lower rates drastically to fill vacant rooms (in my experience the former is more likely than the latter). With historical price data you can have a better idea if you’re getting an amazing deal or merely average.
Above, you can see an example of the hotel price information you can find for hotels all over this website:
The first thing to notice is the list of days at the top. You can select the day you are considering booking your hotel on. For example if you wanted to stay at a hotel for Monday night until Tuesday morning you would pick “monday”. If you are flexible in your schedule you should compare that day with other days to see if another day might have better than average prices. Many resort style hotels have better prices during the week, business styled hotels might have better rates during the weekend.
Next you’ll get a chart underneath showing the price booked # days in advance. This means if you wanted to book your hotel on the same day as your visit, or 0 days ahead of time, then the average price you would expect for this hotel is $78. In this case the hotel likely increases the prices the closer you book to the occupancy day. If you wanted a better price you should book at least a few days in advance. Other hotels show different patterns. Some hotels it’s best to book as far in advance as possible, others will stay pretty much the same price and it doesn’t matter how far in advance you book. You can use this tool to find the best deal and the best hotels that fit your schedule. If you like to travel on a whim or have a demanding job with uncertain hours you might want to pick a hotel that doesn’t penalize you with higher rates for booking at the last minute.
The historical price data should be considered my “best guess” at reasonable prices and you should take the information with a grain of salt. The data gets frequently updated with new values that are averaged in with previous values. If you don’t see a day, or the prices all look flat at the same dollar amount then there probably isn’t enough data available yet to paint a complete picture. Sometimes hotels don’t show up in Hotwire all the time and it’s difficult to know the entire price history of that hotel.
Historical hotel price information is invaluable for saving the most money when you’re booking your next hotel. I use this data myself to see which days have the best rates and how soon I should reserve the hotel. You can also scan the charts to find patterns that hotels use when changing their prices which will make you a money saving machine wherever you go.