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5 Ways to Outsmart Hotels and Save Money

5 Ways to Outsmart Hotels and Save Money

When it comes to dealing with hotels, know that you have the advantage. Hotels are a permanent fixture, which means they can’t change their location and they’re entirely dependent on foot traffic. You, on the other hand, have the option of walking nearby to inquire at competing hotels. And with searches on your phone, you can quickly find key information such as room rates and occupancy levels in your city.

A Google search reveals that in the U.S. the average room rate is between $122 to $137 per night. In 2015, hotel prices rose 3 percent, according to Hotel Price Index (HPI).

Here are ways to cut your hotel costs.

  1. Book late and use rewards programs

In the airline industry, ticket fares increase the longer you wait to book a flight but the opposite is true for the hotel industry. Room rates decrease the longer you wait (to book your room) because these establishments are motivated to increase their occupancy.

There are many tools at your disposal. For instance, HotelTonight is a mobile app that lists discounts at thousands of hotels. Room rates found on the app typically decrease the longer you wait to reserve your room — the later it gets, the more hotels slash their prices to avoid having too many empty beds. On average, the app’s users save 17 percent, according to CEO Sam Shank in an interview with Lifehack.

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Secondly, consider using hotel rewards or card programs. In the case with HotelTonight, the app has a partnership with Capital One that gives Venture and VentureOne cardholders an extra 10 percent discount on top of other savings. Card reward programs often bundle their offers with other promotions. So in this case, Venture cardholders will earn unlimited double miles while VentureOne customers continue to earn 1.25 miles on their purchase.

So do your research. Almost all major credit cards and airlines have partnerships with hotel chains — some award points that accrue toward a free hotel stay or airline ticket and other perks.

  1. Find off-peak times and occupancy levels

Go online and look for off-peak times and occupancy levels in your target city. This is possible through the power of search engines. Media outlets and consulting firms often publish occupancy levels in key cities. A Google search reveals that occupancy rates averaged 84 percent in San Francisco in a recent year, but these levels can be as low as 60 percent in Miami during a certain period.

If nearby hotels have higher numbers of empty beds than they’d like to admit, you should leverage that information to negotiate a lower rate. If you stay for a week, the savings could add up to hundreds of dollars. And that leads to our next tip.

Find out when offseason takes place. It won’t be near the Super Bowl and it won’t take place near March Madness. Hotels may also slash prices at the end of summer or right after holidays, or during midweek (compared weekends). If you’re staying at a hotel and you’re seeing a big crowd, chances are you’re also paying a higher price. It’s Economics 101: More demand equals higher prices while more supply means lower prices.

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If you plan to frequent a specific hotel, then introduce yourself to the manager. Negotiate your rate or ask for a room upgrade. Most hotel managers are well-connected and it’s a shortcut to discovering the ins-and-outs of a locale that you may not know about.

Airplane-wing
    1. Use coupons and vouchers

    Go online and research coupon and hotel voucher sites. They can shave off the room price as well as give your various other benefits. For example, airport hotels can offer free parking, airport shuttle or a cheaper flight. So consider how smaller savings from various sources can add up to a tidy sum.

    A casino hotel may offer free tickets to a show or provide free meals and drinks. If you’re likely to miss breakfast, get a to-go box and save your meal. Take advantage. Hotels want to give you these perks. Competitors are nearby, and being a fixture, hotels are permanently stuck to their location. You’re not.

    1. Travel like a local

    Traveling shouldn’t bind you to perpetually patronize restaurants and local shops to the point where your bank account is in the red. Restaurants and shops located inside the hotel are particularly expensive. Moreover, when you go abroad tourist hotspots are known to significantly inflate prices if you look like a foreigner. Adjust accordingly and you won’t get ripped off.

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    When it comes to dining, there are hotels that have kitchenettes, so you can buy gastronomical delights and cook at your leisure. If you’re traveling abroad, ask the hotel’s front desk if you can get a discount or other perks if you pay in U.S. dollars. The greenback represents a stable currency that, in some cases, is more redeemable than local fiat money.

    1. Ignore entertainment packages

    There are mobile apps that will help you find worthwhile activities. Apps such as ‘CityMaps’ will show you nearby attractions while ‘Peek’ helps you book nearby activities and tours.

    For the most part, forget the hotel’s organized tours and entertainment packages. Most of these packages have significant markups where the hotel collects a nice commission. If you want to go diving, going outside the hotel premises to a nearby diving shop will usually save you money.

    Some packages may not be a bad deal, but how will you really know unless you’re already familiar with local prices? Chances are, you’re not.

    And these packages can include destinations that you won’t necessarily enjoy — like a forced visit to the local zoo when all you really wanted to see was the coastline or historical museum. Always consider that the hotel and tour company may get commissions from forcing you to eat at a particular restaurant or by forcing you to visit a certain destination. They are for-profit enterprises. It’s also tough to back out when the package deal already includes the entry fee to places that you don’t want to visit.

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    Traveling is fun and it should be done smartly. It can definitely be accomplished without breaking your wallet. As Warren Buffett says, “Price is what you pay but value is what you get.”

    Airport-waiting-lounge 2 - Picjumbo - Lifehack

      Featured photo credit: William Warby via flickr.com

      More by this author

      Marvin Dumont

      Entrepreneur, Disruptor

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      Last Updated on August 10, 2020

      8 Reasons Why Goal Setting Is Important to a Fulfilling Life

      8 Reasons Why Goal Setting Is Important to a Fulfilling Life

      The importance of effective goal setting cannot be overstated on our personal journeys towards success. This is why there are countless articles out there on how to set your own SMART goals and even why it’s a skill commonly taught to a small degree in classrooms.

      Learning the importance of goal setting and the benefits of sticking to those goals can be the defining factor determining whether we truly embrace the importance of goal setting. The more willing we are to embrace this method, the more likely we become to reach our personal definitions of personal and professional success.

      Thus, today’s article is going to walk you through some of the benefits you’ll see from learning to set goals for yourself and answer the question, “why is goal setting important?”

      1. Goals Guide and Align Our Focus

      It’s hard to get to where you want to be in life if you don’t know what you’re aiming for. Some people believe avoiding goals means living a more care-free life. How many times have you heard the phrase “If I have no expectations, then I can’t be disappointed”?

      But is that really what our lives have come to? Living just to avoid disappointment? It doesn’t seem like an overly optimistic view in my opinion. And since you’re reading this article, I’m willing to bet that you agree with me.

      Without goals, we lack a degree of direction and focus. Sure you may be able to avoid disappointment, but just avoiding disappointment doesn’t mean you are necessarily happy.

      Without goals, we will pointlessly waste our time, energy, and efforts. Listen to anybody who is the top of their field and they’ll tell you something like this,

      “Yes talent is important, but often your success depends much more on what you decide to do with that talent.”

      And what you will do with your talent largely depends on your focus.

      Your goals give you direction. Your goals give you something to shoot for. This direction and target you create in your mind will help you to progress towards your main life goals rather than simply wander around aimlessly. These goals will help you align your actions and behaviors as you continue moving forward.

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      So, why is goal setting important? Because it gives you direction, alignment, and purpose!

      2. Goals Help You Avoid ‘Shiny Object Syndrome’

      Basically, shiny object syndrome is always being in pursuit of the next big thing, constantly switching your goals based on what you feel is most fun and interesting at the given moment, but never actually giving yourself time to accomplish any of those goals.

      You don’t get anywhere because you continually change the direction you are heading in. This is one of the consequences that may result if you decide to live a life without goals.

      Your goals can sometimes help you to create mental barriers, or blinders, that help you to remain focused on what you think is important and avoid the things that are second priority. When you outline goals for yourself, you are better able to avoid things that distract you from achieving and accomplishing those goals.

      Setting goals helps you to step around the other shiny objects because you’ve taken the time to make some mental notes that remind you what it is that you want from your life. Your goals act as subconscious deterrents to anything less than your main priorities. This is what helps you to reach your personal definition of success.

      So, why is goal setting important? Because not only do goals tell you what you want from life, but they also help you realize what you need to give up and avoid to achieve that.

      3. Goals Turn Our Largest Goals into Manageable Steps

      A lot of us have big hopes and dreams. It’s one of the things that make our lives exciting!

      But a lot of us never take the time to figure out how we can effectively get from point A to point B. So, sadly, we never fully achieve those goals. We look at our dreams and convince ourselves that only a select few people ever achieve them, so we write ourselves off as people not meant to reach that level of success. Looking at the end product of a goal can be intimidating, daunting, and discourage us from even pursuing them.

      Thankfully, goal setting helps us break large intimidating goals into smaller ones. These small steps and more achievable goals will help us to build momentum and will encourage us to keep working towards the next phase of our goal. The form the foundation from which we can begin building the life that we truly hope to have for ourselves, our families, and may even for our communities depending on how big your goals are!

      Whenever I get talking about this aspect of goal setting, I can’t help but think about the mountain climbing analogy, and that the easiest way to climb a mountain is simply step by step.

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      So, why is goal setting important? Goal setting gives you a list of manageable steps that you can take in order to take your life from where it is now to where you want it to go both effectively and efficiently.

      4. Goals Encourage You to Take Action

      This builds on the last benefit of goal setting. Not only does effective goal setting help you break down your larger goals into smaller, more manageable ones, but it also encourages you to actually begin taking action on those goals. After all, a plan is completely worthless if you aren’t willing to invest the effort required to execute it.

      Setting your goals and putting your plan in place motivates you to begin taking action towards achieving them. These goals give you something to plan and work towards. Essentially, they help propel you forward.

      What I like to do is write out and place my goals somewhere that I’ll regularly see them. This constantly serves as a reminder of my top priorities. It allows me to focus on taking small progressive actions towards achieving these goals daily.

      This ensures that I don’t fall into the trap of setting a goal, beginning to work towards it for a while, but then having my motivation fade resulting in me falling off track. This is exactly what many people see happen when it comes to their “New Year’s Resolutions.”

      If you want to learn about how to take action towards achieving your goal, here’s how: How To Take Action Towards Your Goals Right Now

      So, why is goal setting important? Because goal setting actually motivates you to stop thinking about your goals and actually get out there and achieve them!

      5. Goal Setting Helps You Continually Improve

      This is something that a lot of personal development and self-improvement writers talk about, continual improvement. For those of you who are not aware of the term, continual improvement is exactly what it sounds like — taking small steps towards improvement as frequently as you can to develop into the person you want to become.

      What’s the point in improving a little bit each day if you’re not improving in the areas that you want to improve in after all?

      The goals that you define for yourself will inevitably shape you into the person who you want to become. They’ll shape your character. Your goals can help you measure your progress as you strive for this type of development.

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      Essentially, having goals helps you determine where you started, where you are now, and how much further you need to go. In this manner, your goal setting can serve as milestones and benchmarks that help you determine how well you’re progressing towards your most important goals!

      So, why is goal setting important? Goal setting helps you make improvements each day that will slowly transition you into the person you want to become.

      6. Goal Setting Keeps You Accountable

      Not only does setting goals help you measure your progress, but it also is a means through which you can keep yourself accountable. Too many goals fail because they lack this crucial aspect of outlining accountability.

      For example, if I have the goal to do 50 push-ups, that’s great. Most people would support that goal. However, this goal lacks accountability. When do I want to accomplish this goal by and what steps do I take to get there? These are important questions that the original goal leaves unanswered.

      A much more descriptive and specific goal could be to do 50 push-ups within the next 3 months by starting at 5 push-ups, and then adding 5 each week. This goal outlines the deadline as well as the steps I’m going to take to achieve it. This plan will keep me accountable because if I fail to retain my progression schedule, I will know that I’m not going to achieve the goal on time.

      Additionally, it can serve as a marker helping to signify when something is impeding my progress that I may not have initially accounted for. This tells me that I need to re-evaluate what I’m doing and figure out what adjustments I can make to facilitate my success.

      So, why is goal setting important? Setting goals is key to keeping ourselves accountable and on-track towards accomplishing our goals according to the schedules and deadlines we set for ourselves.

      7. Goals Make You Feel Good

      Trust me, the progress you feel as you set and achieve goals can become super motivating and super addicting (in a good way)! The dopamine release you get from achieving your goals is like a little reward for our brains that continually motivates us to try and hit that next goal!

      Having some clearly defined goals will help you to feel better about yourself and your life in general, especially when you stick to those goals, actively work towards achieving them, and end up accomplishing and surpassing your initial expectations. I’m not the oldest book on the shelf myself, but I can attest that there are not many feelings quite like the one you experience when you truly get on a roll!

      Additionally, our goals give us an endpoint to shoot for. Rather than progress for progress’s sake, you can actually see where you’re heading! That’s so much more rewarding. Think about a long car trip as a kid. You ask “if you’re there yet?” ever 20 minutes. It seems like the drive drags on forever.

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      If you don’t know where you’re going, you risk the journey becoming tedious. It doesn’t tend to be much fun wandering around aimlessly. Goals make us feel good about where we’re directing ourselves.

      So, why is goal setting important? Because setting goals and accomplishing them plain and simply make us feel better about ourselves and our lives!

      8. Goals Help You Live Your Best Life

      I’ve talked a lot in this article about how goal setting helps us progress towards our top priorities and live the way we truly want to live. So I think it’s fit to end the article with this goal because, in the end, I feel it’s the most important one.

      Setting your goals and clearly defining what they mean to you will help you live a life that is tailored to your beliefs and values. Your life will become directed towards the things that you most want to achieve.

      Life is a tricky game and only in very rare circumstances are things handed to us on a silver platter. Often it takes a great degree of work, planning, and effortful execution of both.

      There is no point clinging on to things in your life if they don’t bring you happiness or help you accomplish something that, in some way, aligns with your goals.

      Simply put, setting goals helps us live a life that allows us to pursue the challenges and rewards that we truly want to achieve.

      So, why is goal setting important? Because our time is always limited, and setting clearly defined goals can help ensure that you make the most of your life and live to the fullest! Find out more here: How to Use SMART Goal to Become Highly Successful in Life

      Final Thoughts

      These are just a few of the benefits of goal setting that outline why it truly is so important. If you take a moment or two, I bet that you can even think of a few more benefits yourself that you could add to this list.

      If I could leave you with something, it would be this:

      Goal setting has the potential to take us to some amazing places in life because we all have talent and ambitions. To achieve your biggest dreams, you need to be willing to sit down and create a life design uniquely tailored to you that will help you achieve them!

      More Tips About Goals Setting

      Featured photo credit: Unsplash via unsplash.com

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