Nearly all travel experts would suggest that you book for a hotel immediately after you have finalized your travel arrangements. Far too often, more room selection and special discounts are given to those who book early. But being an early bird does not necessarily mean saving more on lodging because sometimes, those who opt for last minute hotel accommodation get bigger discounts.

Different industries, hotels included, sometimes offer amazing discounts and promos as a way to withstand the poor global economic situation. Plenty of hotels and travel agencies offer last minute hotel accommodation discount deals because it is far better for them to drop the price and gain something than nothing. Certainly, lowering their prices and getting some customers use the available rooms is better than keeping the room rates and have no one occupy the empty suites.

In general, down payments are not required in last minute hotel accommodation. Advance bookings, on the contrary, frequently requires a deposit. So if you’re still a bit strapped of cash, a last minute hotel accommodation might be a better option for you.

Those individuals who can afford to be flexible with their travel plans can very well opt for a last minute hotel accommodation. If you’re not flexible, though, last minute bookings can be quite risky. If things change at the last minute and you need to change or cancel your vacation, you might end up laying out a substantial amount on cancellation or rescheduling. So instead of being able to lay away some money on lodging, the exact opposite results.

Early hotel booking is a better option when travel plans are set on a peak season. If you’re traveling on standard vacation, however, the best outcome can sometimes be achieved by booking somewhere in between “very early” and “almost late”. Board and lodging prices are generally the same if you reserve a room ten months before and two months in advance. Making hotel reservations later than that means lesser room options. The limited number of rooms typically results to higher room rates. With that said, it is recommended that you book for a hotel at least six to eight weeks prior to your hard-earned vacation.

There are pros and cons to both early hotel reservations and last minute hotel accommodation. This explains why best results are sometimes achieved if things are done anytime in between.