Why New Year’s Eve hotels cost 300% more for late bookers
How far in advance should you book a New Year’s Eve hotel to avoid ‘panic pricing’ surges?
- Last-minute New Year's Eve hotel bookings are subject to significant price increases globally, a phenomenon dubbed 'panic pricing'.
- Major cities such as New York, Miami Beach, Edinburgh, Rio de Janeiro, and Sydney experience price surges of over 190% for a three-night stay.
- To avoid these inflated costs, travellers are advised to book New Year's Eve accommodation a full year in advance, which can save hundreds of dollars.
- Booking three to six months ahead also offers good deals, as hotel groups typically open their room inventory a year prior at regular default rates.
- The cut-off point for securing major savings on holiday travel, including New Year's Eve, is generally Halloween (31 October), after which prices tend to surge.