The Best Time to Book a Vacation

There’s nothing better than a vacation. But the planning part? That can be stressful. Between airline tickets, hotel accommodations, rental cars and more, there’s a lot to coordinate. And it can be hard to know if you’re getting a good deal. Many travel companies use dynamic pricing, where pricing for a specific flight, room category or rental car type changes automatically based on demand. This demand can fluctuate due to several factors, including seasonality, day of the week, large events nearby and how far in advance you book. For most travelers, getting a great deal is important, and a lot of it comes down to timing. Here’s what you need to know about when to book specific types of travel for the best chance of getting a great deal.

The best time to book a flight

Airfare is often the most expensive part of a vacation budget. And timing your ticket purchase correctly is complicated. Book too early and you may pay too much. Wait too long and you may have limited options for flight times, connections and seats. According to Expedia’s 2024 Air Travel Hacks Report, the sweet spot for booking is 28 days before a domestic flight. The report notes that travelers can save up to 24% compared to booking last minute. If you’re planning an international trip, the report recommends booking about 60 days out, but not more than four months before your trip. You may want to book a bit farther out if you need a very specific flight time or are traveling to a destination with few options for flights and routes. Interestingly, the report found that domestic economy tickets are about 5% cheaper when you book (not fly!) on a Sunday. Traveler tip: If your schedule is flexible, try to fly on less popular days of the week. For example, you can often save by traveling on Thursdays or Saturdays, avoiding Fridays and Sundays.

The best time to book hotels

Like airfare, hotel rates are always fluctuating due to demand. Yet unlike airfare, there are often last-minute deals to be had. According to a NerdWallet report, hotels are cheaper when you book 15 days before your arrival compared to booking four months before. The report also found that the biggest last-minute savings can be found in luxury hotels. Traveler tip: Most hotels have flexible cancellation policies. Unless you pre-pay, you can often cancel up to 48 hours before your arrival date. This means you can book a room early and watch to see if prices drop. Then, simply cancel and re-book.

The best time to book vacation rentals

Unlike hotels, many vacation rentals have strict cancellation policies, so you should expect to be locked into a rate once you book. On sites like Airbnb, it’s recommended to book about four weeks in advance. However, it is possible to find great last-minute deals, either because a property had a cancellation, they’re new to the rental platform or demand for those dates has been lower than expected.

Short-term rental alternative: Co-owned second homes

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Traveler tip: Most rental platforms and vacation management companies offer discounts for stays of a week or longer. The discounts can be significant — 15-30%.

The best time to book vacation packages

Vacation packages are a popular choice for deal-seeking travelers. Usually including some combination of flight, hotel and car rental, they can be cheaper than booking each portion of the trip independently. Because the components of a vacation package vary, there are no guidelines about how far in advance to book. However, you can sometimes find great last-minute package deals on unsold inventory. Traveler tip: Online travel sites and travel email newsletters are great places to find vacation packages, last-minute or not. Expedia, Priceline, Travelzoo and Costco Travel are all good options.

The best time to book cruises

Planning to take a cruise this year or next? It’s important to note that cruise prices can vary significantly. The best advice is to plan far enough in advance to wait for a sale. Overall, the best time to book a cruise is between January and March. Known in the industry as “wave season,” this is the time of year when you’ll find the very best discounts and promotions, as cruise lines are looking to load up their ships for the coming year. If you miss the wave season window, though, you can still find great deals. Keep an eye out for promotions that help your budget go further. Popular promotions include free stateroom upgrades, complimentary or discounted airfare, discounted beverage packages or free kids’ fares. Traveler tip: Cruise lines often incentivize travelers to book early — the earlier you book, the sooner they get your deposit. Cruise lines will sometimes offer deep discounts when you book a cruise more than a year in advance.

The best time to book car rentals

When it comes to rental cars, booking in advance doesn’t always pay off. A 2022 NerdWallet analysis showed that customers who book just a weeklong rental week in advance pay an average of $75 less than customers who book three months in advance. If you are planning to rent a car in a destination with plenty of rental car availability — near an international airport with a large rental car center — you’re probably safe to wait until you’re very close to your trip. However, if you’re traveling to a high-demand destination at a popular time or if you need a very specific vehicle type, it may be prudent to plan ahead. Traveler tip: Like hotels, many car rental reservations can be canceled up until a few days without penalty (specific policies vary by company). That means you can always book in advance and then price compare as your travel dates approach.

A headache-free way to book travel

Pacaso owners benefit from a stress-free, no-hassle way to book stays at their vacation home. With our SmartStay™ system, each co-owner has equitable access to their home throughout the year, with multiple opportunities to book holiday and peak season stays. It’s flexible, too. You can book as far as two years in advance or as few as two days before a last-minute vacation. And unlike an Airbnb or timeshare, Pacaso offers real estate ownership of your home. As a co-owner, you enjoy all the benefits of ownership, including a place to call home, familiarity and the ability to resell.

Hassle-free second home ownership