Agoda.com, one of the world's leading accommodation sites and part of Nasdaq-listed Priceline Group (Nasdaq:PCLN), announced today the results of its most recent Travel Smart study: a trip-planning calendar that helps travelers find the best hotel deals all over the world.
Based on booking data from millions of guests who used Agoda.com in 2014, the study analyzed hotel prices at 25 of the most popular tourist destinations in the world. For many destinations across the globe, the cheapest time to book hotels is in the beginning of the year.
Average room rates during the first two weeks of January were below average in 22 of the 25 markets the study looked at. Though most travelers don't think of September and October as high season, those months are often the most expensive months for hotel rooms
When to find bargains depends on where you are traveling. Mid-March is a great time to visit Europe, as hotel rooms in Paris, Berlin, Rome, Amsterdam, Barcelona, Stockholm and London are as much as 20% cheaper than average.
July is considered high season in many destinations, but hotel rooms in Sydneyand New York are actually cheaper than average then. The last week in December, also considered high season in most destinations, is also a great time to travel to Stockholm.
How much can you save? Price variations from month to month can be significant. On average, a hotel room in Berlin, for example, costs 51% more in September compared to January. Visit Barcelona in January and you'll save 49% off the average room price. November through February, Istanbul hotels are about 23% cheaper than average. In June, they're 21% more expensive.
"For many travelers, price is the most important factor in deciding when and where to go. This data can help our customers get the most out of their money," said John Brown, Chief Operating Officer of Agoda.com.
Unfortunately, if you're traveling to Asia on a budget, you won't find many low season bargains. Hotel prices in Asia's most popular destinations are consistent throughout the year and discounts aren't too dramatic. For example, if you're traveling to Hong Kong, the biggest discount you'll get is in May or June, when average prices are around 11% off.
Across the globe, the most expensive months for hotel rooms is October, when 21 of the 25 markets studied had higher than average room rates.
The study looked at booking data for 2014, but certain annual holidays, such as Chinese New Year andRamadan, and events, such as the Milan Furniture Fair, take place on different dates each year and will affect rates.