Hotwire Hotel: 5* Las Vegas (strip north) question

[gixxer40]

I'm curious if you could answer a question concerning a purchasing strategy in Las Vegas.  

I will need 3 rooms  at the end of July, 29- Aug1.  We will be staying in either the Encore/Wynn or Palazzo/Venetian, and I understand how to target these resorts, but I'm not certain of the best timing for these properties.  I see some fluctuation in price through out the week, but I'm hesitant to book too early fearing prices will fall as we approach our date.  I tried to get a sense of when prices are best during this time of year by looking at past wins, but I don't see a clear pattern.

Any advice or help in this matter would be greatly appreciated.

[thereuare]

There is a 'general information' link on this subject in our PRICELINE FAQ (which you should read) but in regards to your specific trip above...

Hotel rates in Las Vegas fluctuate more than any other hotel marked in the United States.  The trick here would be to 'know' what a good price would be and if you see that rate be prepared to take it.  Of course the question becomes "what is a good rate", and this can be difficult to answer, especially in a hotel market in Las Vegas where rates fluctuate so often, can differ substantially from one nite to the next, and where rates are highly dependent upon 'special events' (boxing, concerts, conventions, conferences, etc)

 

In looking at your dates there is a LARGE AMOUNT OF CONVENTION TRAFFIC over these dates:

7/31-8/4 50K attendees

7/31-8/3 35K attendees

8/2-8/4 20K attendees (this is after your check-out but at least some of the 20K will likely arrive the nite before for booth set-up and/or just to be 'fresh' for the conference)

 

Given the likely high demand (and therefore high rates) my suggestion would be to start with our sister site RefundableRates.com to see rates at the hotels you're interested in, for which i find (confirm all dates on the landing pages):

The Venetian for $242/nite

Palazzo at $252/nite

The Wynn or Encore each at $311/nite

 

If the above is within your budget i would book one of these (assuming The Veneitan since it's the least expensive), or if over your budget and willing to venture to a different part of the strip:

Aria for $187/nite

Bellagio for $212/nite

The Cosmopolitan for $224/nite

 

Taking one of the above that is fully refundable up until a few days before your arrival (confirm cancellation policy during the checkout process) protects you from further rate increases while also giving you the opportunity to cancel/re-book should the refundable rate of any acceptable hotel drop in price... or should a PRICELINE / HOTWIRE deal come along that offers enough of a savings vs. your refundable reservation that makes it worth locking-in. 

 

When you're months ahead of your arrival maybe the amount you need to cancel your refundable reservation and take the PRICELINE / HOTWIRE deal would be 25% savings, maybe $50/nite, or whatever other amount you deem your threshold... 2-3 weeks before your arrival you may be willing to take a 10% savings, $20/nite, or some other amount / factor given there is less time to 'play the game'.

 

Does that make sense and/or answer your question?  Do any of the refundable hotels linked above work for your needs and budget?

[thereuare]

To add to the above, HOTWIRE has what looks like The Palazzo or the Venetian for $141/nite, and given the busy convention schedule during your trip, as well as the rates above, this would be $100/nite savings... it may be a rate that you want to lock-in now.  I can't say if rates will come down, or move higher, between now and your trip, but given what i'm seeing above, i would take the $100/nite savings and call it a day... sure rates could come down a little ($120/nite??), but i wouldn't expect them to go too much lower than that, and on the flip side they could go substantially higher.

 

Please remember to return to BetterBidding and use the PRICELINE and HOTWIRE links on the board to begin your travel purchases... or thru our sister site MAPSandHOTELS.com for your regular rate purchases.

Let us know what you ultimately decide and how it goes or if we can be of further help.

[gixxer40]

Yes, this was very helpful.

 

I'll check with the other couples and figure out a strategy.  I'm thinking for the next two weeks I'll document the daily rate changes in an excel file and look for price trends.

 

It may be awhile until we decide when to book, so do you want me to close this thread or just come back to it when we pull the trigger?

[thereuare]

If you do choose to wait (which is your choice, but as per above, not the approach i would take) i would book a refundable rate to protect yourself from any rate increases.

 

Please continue this thread with whatever you ultimately decide to do for this trip (and if it's a PRICELINE or HOTWIRE hotel, use the 'ADD REPLY and REPORT WIN' button on the upper right of this thread as it will allow you to edit the topic title to reflect your win and to provide the details of your purchase)

 

Please remember to return to BetterBidding and use the PRICELINE and HOTWIRE links on the board to begin your travel purchases... or thru our sister site MAPSandHOTELS.com for your regular rate purchases.

Good luck!