If you’re planning to travel this summer, travel experts say book now for the best rates.
“Airlines typically put flights in their system months out, around eleven and a half months out. You couldn’t book 12 months early, but people who take advantage of those time periods get the best rate,” said travel expert Claire Newell.
However, striking a great deal on a flight close to spring break may be a different story. Travel experts say last-minute deals are generally hard to find.
“It’s a huge misconception that you can get this last-minute deal, whether it be spring break or summer holiday,” personal finance and travel expert Barry Choi told Consumer Matters.
“The reality is all the airlines and hotels, cruise operators, they have so much data exactly when they’re going to sell out. If you’re trying to book that last-minute ticket, the odds are it’s going to be more expensive.”
Choi says it all comes down to dynamic pricing based on supply and demand. Prices for airfare and hotels can change daily, even hourly.
“The price you saw in the morning might be different at night,” said Choi.
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Much of dynamic pricing is driven by artificial intelligence, says Choi. He says companies can track personal information to influence prices.
“Their predicted AI or human people can see what routes are going to sell out and even if they feel it’s not going to sell out, they can offer those promos earlier – they don’t have to wait until the last minute,” he added.
Still, while booking early is ideal, being flexible can create options.
Newell said for those who haven’t booked a spring break trip, the people getting the best deal have flexibility.
Typically, traveling between Tuesday and Thursday is less expensive than flying between Friday and Monday. Going through a travel agent can also help consumers find an affordable rate, especially when booking cruises.
“Large agencies will take out group space at deployment. It’s years before sailings actually occur and those rates can’t be beat,” said Newell. “It might seem old school because we have so many tools like AI and the web, but the reality is they (travel agents) still can often get a better deal that you won’t be able to get yourself.”
Choi also recommends loyalty cards to offset travel costs and to consider airfare search sites to get notified when prices drop.
If you do have loyalty points saved, Newell says this might be the year to use them for certain trips, but plan early. “The best bang for your buck if you are looking – go for a long-haul flight, don’t use them on a short-haul flight,” she said.
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