Last-Minute Booking
A last-minute booking is a reservation made within a few days of the check-in date, typically 1–7 days before arrival. These bookings often come from spontaneous travelers, business travelers, or guests whose original plans changed. Property managers can strategically attract last-minute bookings by using dynamic pricing to offer competitive rates for upcoming unbooked dates, reducing minimum stay requirements as the date approaches, and enabling instant book and same-day booking options.
Frequently Asked Questions
Should I offer discounts for last-minute bookings?
It depends on your market. If a property is unbooked for upcoming dates, a last-minute discount is usually better than an empty night. Dynamic pricing tools automate this by gradually reducing rates as check-in approaches for unsold inventory.
What is considered a last-minute booking?
A last-minute booking is typically a reservation made within 1-7 days of the check-in date. Some markets define it even more narrowly as bookings made within 48 hours. Last-minute bookings are driven by spontaneous travel decisions, business travel needs, or changes in original travel plans. They represent an important revenue opportunity for filling unsold inventory that would otherwise generate no income. Properties in urban and high-demand leisure markets see the highest volume of last-minute bookings.
How do I attract more last-minute bookings?
Enable instant booking on all platforms, reduce minimum stay requirements as check-in dates approach, use dynamic pricing to offer competitive last-minute rates, and ensure your calendar is accurately synced in real-time across all channels. Set advance notice to same-day on OTAs and have self-check-in technology in place. Some property managers also run targeted promotions or special offers for upcoming unbooked dates through direct booking channels and email marketing to past guests.
What pricing strategy works best for last-minute bookings?
Dynamic pricing tools automatically reduce rates for unbooked dates as check-in approaches, typically applying gradual discounts starting 7-14 days out. A common approach is to reduce rates by 10-15% at 7 days, 15-25% at 3 days, and up to 30-40% for same-day bookings, though exact discounts depend on your market and costs. The goal is to capture any revenue above your variable cost per night rather than leaving the property empty. Hostaway integrates with dynamic pricing tools that automate this strategy.
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