What to do as prices race downwards?
 

I booked a hotel on points a month ago, and I've been watching it as the time gets closer and the cost goes down, and down... How often do you rebook, only to capture a better price? And how much would it take before you rebooked?

There is no need to rebook. Just click on edit, it will show you the updated points, and you click save. Its about 30 seconds total. I have done it for 1,000 points

Good for you to see the prices race downwards and can rebook. For me, lately the prices seem to be going up and up, rarely down. It's your choice whether you like to rebook often or not.

I've rebooked for difference of 500 points (or a few dollars).

Almost all of my reservations on points are rebooked multiple times. Some several days in a row.

The price seems to be updated once a day or so, and it is my daily habit to check all upcoming reservations every day. My very limited experience show price drop very far in advance (i.e, 11-10 months) and close to the stay date (which is more variable).

As there is no downside to repricing, apart from your time, there is no reason not to do it every time you see a price drop.

I always rebook for a better rate, whatever it is.

For points bookings unless it's a 5nt stay I book one night at a time. For cash rates I sometimes break it up, but always look at different rates for different segments of a stay. I can often save hundreds per stay by using two different rate codes.

Hotels often comment on it and I just respond with some many rates and variable pts they create the game, I just play it.

The only downside is ENCs and pts often get messed up. I've had a few really frustrating IT mistakes that lead to hijacked FNAs, points or incorrect rates. Any regular Marriott guest should know to take lots of screenshots and save all emails.

I just tried this. Went to that booking (548,000 points +50 euro). Was available for 530,000 points. Clicked Edit, Selected the same room type, and the screen showed that my account would be credited 18,000 points. Of course I forgot to take a screenshot just in case, but it will probably be OK. I only had about 200K points in my account, so I assume that it worked.

I regular update for as little as $10 USD. It takes just a few seconds and adds up

Excellent advice as always. Thanks all!

This thread should be required reading for anybody tempted to book a prepaid rate. Whether points or cash, rates do have a tendency to fall when the hotel isn't as full as it expected to be.

Agreed...it also feels like hotels are playing with rates as they gauge the demand patterns and trends for booking windows, based on evolving changes in consumer behavior. There was that period a few years ago when even the crappiest properties out there could set rates as high as they wanted and somebody would be willing to pay it. Lately I've noticed more instances of rates dropping close-in (sometimes substantially) than I have in the past.

Welcome to the world of Dynamic Pricing, AI assisted using predictive modeling to maximize revenue for the property. Not even the "Corporate Negotiated Rate" is that anymore in a lot of places...it's a % off of the 'rate of the day' which again allows properties to maximize revenue based on demand.

As occupancy rates in major cities are at an all time high there are not many bargains out there as there is no need for properties to drop prices or compete. What we need is a good travel downturn like 2008 that pushes down occupancy to the low 60's and then you'll see some deals!

I'd like to see some examples (in major cities) of prices 'racing downwards'.

Everything posted correctly. My account now reflects cancellation of the first room, so credited with the 548,000 points from the original booking and debited for 530,000 points for the replacement booking. Couldn't have gone more smoothly.

ETA: Just checked again. The same stay is now 540K points.

I should add, sometimes the prices come down dramatically. Prices dropped by $80 USD at an upcoming stay at Hyatt regency Cambridge that I have so I quickly changed the reservation. I also have a stay coming up at HR Churchill that I booked on points at a fabulous valuation - but the prices have dropped 100 GBP a night so I have thought about switching to cash

It pays to check frankly

You can set an alert with RateDrop.com to monitor your trip and get an email if/when the rate drops (cash or points).

It can monitor rates for any room at the hotel or the specific room you want, as well as let you know if a sold-out room/hotel becomes available.

I have also done this a few times also since dynamic award pricing is in place. However, more often than not prices rise in the reservations I booked in advance.