NEEDHAM, Mass., Oct. 05, 2016 -- TripAdvisor^®, the travel planning and booking site, today announced its "Best Time to Book" Holiday report, revealing the least expensive times to book hotels in popular global destinations for the December and New Year's Eve holidays, based on TripAdvisor hotel booking and meta click data¹.

"Travelers researching U.S. hotels for the December holidays can find value throughout the year, but those booking on TripAdvisor in November can find rates that are 20% less than the highest annual prices," said Brooke Ferencsik, senior director of communications for TripAdvisor. "Based on TripAdvisor booking data, we've seen that hotel prices can vary significantly from one week to the next depending on the destination, so it's the well-informed traveler that is most likely to snag the best deals."

TripAdvisor analyzed historical hotel booking and interest in nine popular regions around the world for the last two weeks of December. The best time to book was defined as periods when hotel prices were less than the average for the destination.  The research showed that the best time periods to book vary depending on the region or city where the traveler is looking to visit. While most destinations see a gradual change in prices over time, some destinations see dramatic changes from week to week for holiday hotel rates.  Below is the breakdown of potential savings for world regions and popular world cities when comparing the least expensive to most expensive times to book hotels for the end-of-year holidays.

Best Time to Book Hotels for December Holidays in World Regions

• Book U.S. hotels starting in November.
  U.S. hotels during the holidays average $140 per night and pricing remains fairly steady from March until November when rates start to decline. During Thanksgiving week, travelers can save the greatest amount, 21% overall compared to early year peak pricing.

• Travelers should shop for European deals beginning in March but can find consistent value by booking after mid-November.
  European hotels average $102 for the holidays.  Prices level out in March offering value for travelers and stay relatively consistent until prices decline 5% in mid-November, approximately 15% savings compared to the early year peak.

• Asia sees best savings from September on.
  Hotels in Asia are a bargain at an average of $68 for the holidays and decline gradually beginning in February to the end of December. Travelers that book after September to the end of the year can save 16% or more versus peak rates.

• Caribbean hotel prices remain relatively steady all year.
  Holiday rates remain consistent around the $243 average in the Caribbean, with prices slightly lower in summer but varying by only a few percent throughout the year.

• Central America rates are flat and climb slightly towards the end of year.
  After remaining flat for most of the year at an average of $115, prices gradually rise about 5% higher starting in late August through the end of the year.

• Prices begin to drop for Middle East hotels starting in November.  
  Average rates for the holiday weeks are $162 and prices remain relatively steady from May until November, when prices drop 17% or more versus the early year peak.

• Start booking your holiday stays in November for Africa.
  Prices average $121 in Africa for the end of year holidays and fluctuate about 5% from late March until November when they start to decline steadily, from 10% less than the early year peak.

• South America values available starting in September until the end of the year. 
  Hotel rates drop about 10% from mid-July to September then remain steady around its $93 average until a final drop of another 5% for last minute bookers in mid-late December. Booking during this window can save 24-30% vs the early year peak.

• Book South Pacific from mid-July on to the end of December. 
  Hotels average $130 during the last two weeks of December and travelers can save in particular during the September and late November lows, about 10% vs the early year peak.

Best Time to Book Hotels for the Holidays in Popular World Cities for Travel

U.S.:

• Chicago offers low prices from October until the end of the year. Chicago hotels for the holidays average $154. After week-to-week volatility throughout much of the year, prices become available that are below the average in October, when travelers can save 28% or more vs the early year peak. During Thanksgiving week, rates drop 12% from the week prior.

• New York City prices start coming down in mid-September from its $317 average to about $300 per night, with another drop in mid-November.  Last minute bookers to New York City can get rooms around $270 and save 25% versus the early year peak.

• Orlando is wild ride! Orlando hotels average $186 for the holiday weeks and see dramatic price changes from one week to the next throughout the year. It's best to book early in the year for Orlando; those researching hotels after September will need to shop carefully as prices can swing 10% from week to week but value at the average or slightly below can still be found in late October and late November.

• San Francisco hotels see a late November decline. San Francisco rates for the holidays average $169. Rates remain relatively steady from late April until mid-September when prices drop below the average and travelers can save 24% or more compared to the early season peak. For last minute bookers, prices drop significantly on Thanksgiving week and again in December.

World:

• Bangkok — $45 holiday average; book from late July to end of year for 13% savings or more.

• Barcelona — $109 holiday average; dramatic changes throughout year; book from early November to end of year for 19% savings or more.

• Beijing — $57 holiday average; book from October to end of year for 17% savings or more.

• Berlin — $94 holiday average; significant changes throughout the year, book in November to end of year for 35% savings or more.

• Buenos Aires — $82 holiday average; rates level out in September and hover around the average until a 14% drop in late December for last minute bookers.

• Cancun — $221 holiday average; dramatic price changes throughout the year, with prices highest through the summer before coming down as much as 17% in late November.

• Cape Town — $227 holiday average; book from mid-September to end of year for 14% savings or more vs peak.

• Dubai — $256 holiday average; significant changes in rates throughout the year and last minute bookers in mid-December can save 41% vs peak.

• Dublin — $127 holiday average; week to week swings of as much as 10% throughout the year; last minute booking opportunities starting in early December with 26% saving vs peak.

• Hanoi — $35 holiday average; prices under average until mid-November when prices begin to rise to peak prices, as much as 17% at the end of December vs mid-October rates.

• Istanbul — $111 holiday average; from mid-July prices remain steady until a decline in mid-November when travelers can save 26% or more vs peak.

• Jakarta — $46 holiday average; starting in late August prices begin to flatten at low rates until the end of the year, 29% savings or more vs peak.

• London — $184 holiday average; prices decline just below the average beginning in mid-September before prices decline in mid-November when travelers can save 20% vs the peak. Last minute bookers can save as much as 35% in mid-December.

• Marrakech — $114 holiday average; after price volatility throughout the year prices begin to decline in late October, with lows in late November, as much as 19% compared to peak.

• Moscow — $49 holiday average; travelers can find low rates starting in August when where travelers can save 34% or more vs peak.

• Mumbai — $56 holiday average; prices hit lows and flatten out starting late August, when travelers can save 17% or more vs peak.

• Paris — $158 holiday average; start booking in early November until end of year to save 23% or more vs peak.

• Prague — $103 holiday average; Dramatic swings from week to week throughout the year.

• Rio — $113 holiday average; week-to-week volatility throughout the year, before prices begin to come below the annual average in late August when travelers can save 42% or more vs the peak.

• Rome — $110 holiday average; prices decline in November when travelers can save 20% or more vs the peak.

• Singapore — $112 holiday average; starting in August rates remain relatively low until the end of the year and travelers can save 16% or more vs peak.

• Sydney — $165 holiday average; Gradual decline throughout the year; by late August travelers can begin to find prices dramatically below average and save 55% or more vs early year peak prices.

• Tokyo — $107 holiday average; prices swing by about 5% every week or two throughout the year.

TripAdvisor is the world's largest travel site*. Travelers can read millions of reviews and opinions and book their next trip on TripAdvisor.

Notes to editors:

¹Hotel pricing and average destination rates are based on TripAdvisor hotel instant booking and meta click data, aggregated from booking partners, including online travel agencies and direct hotel suppliers.

TripAdvisor analyzed data from December 2014- December 2015 including all hotels with sufficient pricing data.