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Travel Savings: How Early You Should Book If You Want To Save

Timing is everything!

Eyeing a trip to Paris in June? Best book now to get the hottest hotel deal. And if you're looking to travel somewhere in South America, the U.S. or Asia this summer, you're going to want to plan ahead and book three months out.

That's according to new research from online travel and review site TripAdvisor, which looked at its hotel pricing data to find the least expensive times for reserving hotels this summer in popular destinations around the world.

For the report, analysts defined the best times to book as periods when hotel prices are consistently less than the destination average.

If Paris is on your radar this summer, for instance, the numbers show that booking within two months of your trip can shave 23 per cent off your hotel bill versus peak rates.

Other big savings can be found for travellers headed to the Middle East, who can stand to save 19 per cent if they book two months out and travellers planning a trip to South America, where booking within three months can shave 15 per cent off their hotel rates.

"Bargain hunters know that timing is crucial when it comes to booking the lowest hotel prices," said Brooke Ferencsik, senior director of communications for TripAdvisor in a statement.

"TripAdvisor data shows that travellers can often find the best prices on summer hotels months in advance, with a booking sweet spot typically within 3 months of their trip. By doing their homework... travellers can discover the best deals on their hotels for summer."

Overall, minimum lead times for U.S., South and Central America and Asia is three months for hotel savings, while Africa and the Caribbean is four months.

Travellers headed to the Middle East and the South Pacific have a bit more leeway, with just two months needed to find a sweet deal.

Here are some of the cities that offer the best savings with a little advance planning:

New York: Book 2 months ahead to save 23 percent

Chicago: Book within 2 months for 18 percent savings

Bangkok: Book 3 to 9 months ahead to save 33 percent

Budapest: Book 3 to 5 months out to save 35 percent

Dubai: Book within 6 months for 24 percent savings

Hong Kong: Book within 5 months to save 23 percent

Istanbul: Book within 5 months for 33 percent savings

Mumbai: Book within 3 months for 24 percent savings

Prague: Book 3 to 7 months out for 24 percent savings

Rome: Book 4 to 8 months to save 21 percent

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(01 of 12)
Where: Spain
Type of trip: Backpacking
Ideal for: The inspired traveller who likes to explore.
Things to see: Architecture in Barcelona, house music in Ibiza, and food and wine in Sebastian.
Don't miss out on: Making a pit stop in Madrid for shopping.
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(02 of 12)
Where:European river cruise (Crystal Mozart)
Type of trip: Cruise
Ideal for: Travellers who want to surround themselves with a variety of cultures.
Things to see: Explore UNESCO designated sites, go from one notable town to the other benched by the ocean, and squeeze in some museum time.
Don't miss out on: Packing light! Because you will be able to see multiple cities in a single itinerary, you'll want to travel light.
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(03 of 12)
Where: New Zealand
Type of trip: Backpacking
Ideal for: Travellers who seek thrills.
Things to see: This is your time to take advantage of adventures like bungee jumping, jet boarding and hiking. If you're a nature lover, the country also offers many eco-tours to visit mountains and unspoiled wilderness.
Don't miss out on: Rain forests; they are beautiful!
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(04 of 12)
Type of trip: Safari
Ideal for: Avid photographers.
Things to see: The Great Rift Valley (volcanic mountains, Mount Kenya and Mount Meru), the great migration of wildebeest and the Masai Mara National Reserve for wildlife.
Don't miss out on: Keyna also has a selection of beautiful landscapes within their national parks. Tully Luxury Travel suggests Amboseli National Park.
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(05 of 12)
Type of trip: Backpacking
Ideal for: The traveller who loves to read.
Things to see: Local libraries in Dublin and a walking tour exploring the literary greats.
Don't miss out on: Don't forget to bring your own book and spend some time reading on a city bench... or in a castle.
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(06 of 12)
Type of trip: Backpacking
Ideal for: First-time solo travellers.
Things to see: Yikes, where do we start? There is so much to see and do in Thailand so we suggest either sticking to one region or depending on time, go from one end to the other. Explore the busy streets of Bangkok or spend a week in the mountain region of Chiang Mai.
Don't miss out on: Take some time to visit a city's temple — these beautiful structures of worship have been around for decades.
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(07 of 12)
Where:Western Canada, B.C. specifically
Type of trip: Adventure/outdoor trip
Ideal for: Athlete traveller who likes to do many things on their trip.
Things to see: Hike at a national park, go through rugged mountain trails and if you hit Tofino, surf!
Don't miss out on: If you are heading to B.C. for the first time, we suggest renting a car and driving up the Sea-to-Sky Highway in Vancouver.
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(08 of 12)
Where:South American ocean cruise
Type of trip: Cruise
Ideal for: The sun lover.
Things to see: Explore the ancient ruins of Peru, see multiple cities in a week and check out local eats.
Don't miss out on: When in South America, squeeze in some time to dance. Tully Luxury Travel suggests signing up for a tango class (and yes, you will find a partner there!).
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(09 of 12)
Type of trip: Backpacking
Ideal for: Water-loving travellers who dream of outdoor adventures.
Things to see: Great Barrier Reef, the Sydney Opera House and outback day trips.
Don't miss out on: Save at least one full day to swim and surf one of Australia's many beaches.
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(10 of 12)
Type of trip: Backpacking/light luggage
Ideal for: The outdoor enthusiast.
Things to see: Wide range of outdoor activities including swimming in the Blue Lagoon or riding Icelandic horses.
Don't miss out on: The capital city Reykjavik makes a good starting point or a spot for a good day trip.
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(11 of 12)
Type of trip: Backpacking
Ideal for: Zen travellers or people looking to relax.
Things to see: Beautiful beaches, temples in every corner and the rice fields of Ubud.
Don't miss out on: Your surroundings, seriously. Go device-free and take in everything Bali has to offer.
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(12 of 12)
Where:South African Safari tour
Type of trip: Tour
Ideal for: Animal lovers.
Things to see: Several distinct ecosystems, Kruger National Park tours and the province of Western Cape.
Don't miss out on: Take a break from the site-seeing and head to the beach.
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