Why It Pays to Compare Discounts Before Booking Your Next Hotel Stay

I love a good travel deal. I always look for money-saving opportunities when booking travel expenses. One way I've been able to trim my hotel spending is by taking advantage of hotel discounts provided through membership programs like AAA.

But, recently, I learned that comparing discounts before finalizing your hotel booking is wise. Otherwise, you may spend more than necessary, quickly draining your checking account balance and making your vacation more costly.

Here's why you should compare all discounts before booking a hotel for your next vacation.

You may not be getting the best deal

I've been busy making hotel reservations since I'll be traveling a lot over the next few months. I like to book accommodations more than a few weeks before I depart for a trip to lock in a reasonable rate. While booking a hotel for one of my upcoming trips, I learned that comparing hotel room rates is essential, especially if you're eligible for multiple discounts.

Many hotels provide discounted room rates to AAA members, but I almost paid more than necessary for an upcoming stay because I naively assumed the AAA rate was the best option. It turns out I scored a better rate by skipping the AAA discount entirely.

Instead, I booked the rate available to members of the hotel's loyalty program because it was cheaper. I'm not loyal to one hotel chain, but I join every hotel rewards program to benefit from the perks offered. One such perk that many programs offer is cheaper, members-only rates.

Hotel loyalty programs are free to join, and it takes only moments to sign up, so ensure you don't miss out on benefits like this. And let my experience be a lesson to you -- it's worthwhile to take an extra moment to compare the discounts available before booking a hotel. Don't assume the discounted rate you're booking is the best choice for your wallet. It could cost you money.

Another way to save money when booking hotels

Comparing discount rates is one of many ways to save money on hotel costs. Another way to keep more money in the bank is to book a refundable hotel stay well before your trip. Then, monitor prices every so often to see if rates drop. It's quite possible that rates will decline.

Hotels adjust their prices often to match demand. If they want to increase bookings for your travel dates, the hotel may lower its nightly rates. If you booked a refundable room, you can rebook your stay at the lower rate and then cancel the initial booking.

I often use this strategy when booking a hotel. It helps me avoid overpaying. Last fall, I saved over $200 on a two-night weekend hotel stay because I rebooked my stay once the nightly rate lowered significantly. If you like to save money, consider this booking strategy for your next trip.

Earn rewards on your travel spending

As you make arrangements for your next trip, consider the best ways to pay for your bookings. I recommend using a travel rewards credit card. You can earn rewards when you swipe your credit card for travel expenses like hotels and flights.

Over time, your rewards will add up. You can later redeem your credit card rewards for free travel. Want to learn more? Check out our list of the best travel credit cards.