Waiting until the last day to bid?

[hanish]

I've often assumed that if you wait until the last day (or at least close thereto) to bid on a room at Priceline, that you'll wind up with a better price. My reasoning is that the hotels are more desparate when it comes down to the last day and they still have unbooked rooms (which would just go to waste otherwise). Is this reasoning sound? Has anyone ever tested whether or not they can get lower rates by waiting, because all in all I'd rather book earlier if its going to be the same price, but I am willing to wait until the last minute (and even risk not getting the hotel I want) if it save me money.

[thereuare]

Generally speaking your assumption is not correct, although certain zones and regions have their own idiosyncracies (which is why you're better off asking your question along with travel dates, star rating, zone etc). You may get a better rate 1 month out vs. 8 months before check-in, but waiting until the very last minute is not recommended.

Here is more on the subject:

SHOULD I BID EARLY or LATE TO ARRIVAL

[nvherron]

Do you know how many times I've booked far in advance, get a great rate, then show up and the hotel be sold out? :) I bet if they knew when I booked that they would be sold out, there was no way in the world I would have gotten my rate.

My best example is The Westin Horton Plaza in San Diego. I booked 4 months in advance at $65/night on Priceline. Two weeks out, I checked their website, their rate was up to $259!!! I checked again 24 hours before check in and they had no rooms available! At check-in it was a complete mad house...people everywhere. The hotel was completely sold out. The whole city was this way due to a Comic Book Convention. Geeks everywhere! :) Had I not booked in advance, I would have paid a lot more money, for likely a much lesser hotel.

But, I have scored some great deals at the last minute, too. And in places in between. It helps a lot to know the market...but make no assumptions across the board. Happy travels!