Now is a Great Time to Book Hotel Stays!

The fear of a recession is causing a lot of people to change their habits. Some people, including me, would say it’s already here. Shopping is slowing, as evidenced by February’s retail sales being down by 0.6%. Major companies, such as auto manufacturers are scheduling “vacations” from production this year. Travel is slowing down across the country as airlines are taking more planes offline and cutting available flights.

So what has this got to do with hotels? Everything! According to the Wall Street Journal today, the hotel industry is also facing a slump. In its article Hotels Face a Reality Checkout, the WSJ talks about two reports which project hotel revenue will drop throughout 2008 and 2009.

MOST importantly: Ask them for a guarantee of the discounted price in writing. This means that they won’t change the price on you after making this verbal deal (just in case business starts looking up!). Some hotels will require you to pay for your room in advance to secure the discount, or at least hold it with your credit card (pretty standard). Ask and you shall receive!

What does this mean to frugal travelers like us? It means now is a GREAT time to book your vacation! The uncertainty around the recession has a lot of businesses fearful that their low revenues will continue to drop, making it the best time to ask for discounts.

When booking travel, check the online booking services first so that you have prices for comparison. However, call the hotel directly to negotiate and book your stay. Ask for a lower rate, and talk to a manager if the reservations person doesn’t have authority to change prices (although they usually do). Explain that you would like to stay at their hotel for whatever reason (closest to your vacation spot, good experience there in the past, etc.) but that the current prices put it just out of your budget. Ask for a discounted rate or name your price and see if they accept.

Not traveling for a while? That’s okay. As long as you have the guarantee on the rate, you should take advantage of the hotel industry’s slump right now to book your vacations for a little later.  What if the hotel won’t lower the price? Be pleasant, tell them good day, and call the next hotel on your list!

You might like these too:

1. 11 Ways to Save Money on Hotel Costs