What Happens if You Book a Hotel and the Price Drops?
If you’re a savvy traveler, you know that pricing in the travel industry is based on a surge pricing model, also known as supply and demand. This means that rates and fares go up and down all the time. So what happens if you book a hotel and the price drops?
You’re Entitled to a Refund
Did you know that you’re entitled to a refund if the price of your hotel room, rental car, or airfare drops after you’ve booked? Many travelers don’t realize this, but it’s true. If you find a lower price for the same hotel room, rental car, or airfare within 24 hours of booking, you can contact the company and request a refund for the difference.
How to Get a Refund
The process for getting a refund varies depending on the company you booked with. Generally, you’ll need to contact the company directly and provide proof of the lower price. Most companies will then issue you a refund for the difference.
How to Find Lower Prices
The best way to find lower prices is to shop around. Compare prices on different websites and check back often to see if prices have dropped. You can also sign up for price alerts, which will notify you when prices drop.
When Refunds Aren’t Available
Unfortunately, not all companies offer refunds if the price drops after you book. Some companies have strict policies that don’t allow refunds, even if the price drops. Be sure to read the fine print before you book to make sure you understand the company’s refund policy.
Tips for Getting the Best Price
To get the best price on your hotel room, rental car, or airfare, it pays to be patient. Don’t book the first thing you see – shop around and compare prices. Also, keep an eye out for special deals and discounts. Many companies offer discounts for certain days of the week or for booking in advance.
If you book a hotel, rental car, or airfare and the price drops, you may be entitled to a refund. Be sure to read the company’s refund policy before you book and shop around to find the best price. With a little patience and research, you can save money on your next trip.