Hotel Hedging: an easy way to save money when traveling in 2024

As the new year approaches, many of us start planning our next trips. However, the cost of flights and accommodation can quickly cancel these plans, so you need to find a way to save money.

Luckily, one travel expert shared on TikTok how "hotel hedging" can help us save money on our next year's stay abroad. Alexis Gould's method involves booking hotel rooms in advance of a trip, but with the possibility of canceling them and getting a refund, Huffpost writes.

TikToker often shares "secrets" and tips on how to get free upgrades and save money on travel. She shared this in a video that has garnered almost 1.8 thousand likes since its publication: "Hedging is a way that hotels don't want you to know about, so this is my biggest secret.

"Let's be clear - you make a regular advance booking when you book a trip. Now the most important thing is to make sure that it can be canceled and refunded within 24 hours of arrival."

You do this to make sure you have a place to stay if your hotel hedge doesn't work out, Gould explains.

As your trip draws closer, look for cheaper last-minute deals - Gould describes that many hotels are only 60% full on most nights, so the remaining 40% of rooms are sold off at very discounted rates to fill them.

"If you plan well, you can take advantage of this," she says.

Here's her step-by-step guide to hotel hedging:

Book a hotel room with a refund option. One to two weeks before your trip, check out hotel hot deals Find the same or better hotel at a lower price and book. Cancel your original room, get a refund, and save money

One hotel employee commented on Gould's video: "As someone who has worked in hotels for 16 years, this is one of the smartest deals I've seen."