If you're an early booker, you may look at a last-minute booker as an "unorganized traveler"! I mean, if they're booking last minute, they must not have planned too well, right? But if you're a frequent traveler, you know that you can save both ways. Let's take time to compare and contrast between the two concepts.
First, understand why airlines have these deals. When an airlines wants to fill seats on a certain route on a certain day, they initially lower the price about 2-3 months prior to the departure date. This is where those early bookers are online and making their reservations. There's plenty of seating options during this period of time. As the plane begins to fill up, the airline raises the price to make a larger profit off the late bookers. But when it's about a week or two prior to departure and the plane still is not filled, airlines drop the ticket prices again in a last-ditch effort to maximize capacity for the route.
Before you read on, do understand that there isn't a right or wrong decision; there is solely a choice that works best for your traveling condition. Plus, choosing to book early or last minute may change each time you travel. There are a few deciding factors that you should consider:
- Are the dates you plan to travel flexible?
- How many people are traveling with you?
- Who is traveling with you? (family/business colleagues)
If your travel dates are flexible, booking last-minute isn't a bad option. With booking last-minute comes great risk. But it's not just the obvious risk you may be thinking about. Think about a family vacation for instance . . . think about all that goes into planning a vacation. It's not just what hotel you're staying at and what you'll do while you're there. It's the things like, who's taking care of the family pet and when are they available? When's the school vacation? If there are questions like that up in the air, then I'd suggest you book early. As attractive as the savings are with last-minute booking, the hassle may not be worth it. Also, understand that with last minute booking, open seats may be scattered about the aircraft; you may not all be sitting together.
So who books last-minute? If you're dates are fairly flexible and sitting near someone isn't a concern, by all means, take advantage of last minute deals. If you plan on intentionally booking last-minute, make sure you watch the fares as the dates move closer. The time when an airline reduces its fares isn't an exact science when it comes to last-minute booking. It'll all depend on how full the flight is.
If you're a business traveler, you may save money with your airfare by getting to the convention or meeting a couple days earlier but by booking last-minute. Booking last-minute doesn't mean you need to get to where you're going last-minute; it just means you're getting on an aircraft that is only three-quarters full.
Online travel sites also want to maximize profits so they'll advertise both early booking and last-minute booking deals heavily. ExpertVaca.com usually has early and last-minute deals for both airfare and hotel reservations.
As I've said before, the best way to save money is to understand how the airlines work. The airlines know when it's convenient for people to fly. It's usually during the day and/or on the weekends; both, the most expensive times. Try to take the red-eye mid week to save the most. Take into consideration your "travel conditions" to determine whether to book early or last minute.
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