When the prices soar, you need to know these tricks
When a massive city hosts a massive, bucket list event, lodging prices barely budge. But there are several events where cheap rooms disappear and accomodations soar up to 10x their normal prices. The Kentucky Derby is a perfect example. A standard Holiday Inn room in Louisville will jump to $900 a night. The Super 8 starts at $300. I can’t knock Louisville for the hustle; when else does a small metropolitan bring 180,000 people in for a weekend? But there are a few tricks, other than the usual tips and sharing rooms with buds, and I always save the best for last. There IS a way to get cheap hotels for big events!
Book early, even if you’re not sure you’re going yet
If you even think you might go to a special event in a mid-size city, book as far out as you can as long as you have a free cancellation. Many sites will let you book with free cancellation and many will even allow you to pay when you’re there. And if you can, level up with savings by going to Rakuten, making a reservation you can cancel, and earn money back.
Book NOW. In the case of Derby, book the Sunday after Derby if you might go to Derby next year. That’s the type of book earlier we’re talking about. The same goes for the Masters, the Final Four, and basically any event that either pulls over 100K people or occurs in a small city. Just set your reminder to cancel if it doesn’t work.
Check home stay sites
Home rentals or stays will likely be inflated too, but they often have more flexiblity. The most known is Airbnb but other options include Vrbo, Homestay, and the often overlooked and valuable in a crowded market, Bed and Breakfast. I always recommend looking at Google Earth‘s view of neighborhoods in places you might stay. Pictures inside lodging don’t really do a neighborhood justice. Read the fine print on your cancellations, check extra fees, and make sure your hosts have positive reviews.
Book farther out of the city
This is what we did the first year we went to Derby, staying in a town about 20 minutes away from Churchill Downs to get one of those Super 8 rooms for less than $300. The catch of course is to think about transport. We weren’t driving; didn’t want to hassle with parking nor drive intoxicated. It was the age before Uber shuttles and free-lance taxis were everywhere, charging up to $50 for a long shuttle on Derby day. When we stayed out of the French Quarter during the Final Four we were still close enough to walk. For the Masters, renting a car was necessary. Other major site horse races involved trains and Uber. You can get cheap hotels for big events in suburbs, but make sure you look through your options for transportation first. Make sure the prices and time of the back and forth won’t soar over the savings.
BEST TIP: Points prices stay the same- bank and buy your points!
Having points pays. That $900 a night Holiday Inn room? This year we stayed 3 nights for $800 total. Savings: $1900. Someone I sold tickets to was able to use their points to stay for free. While prices can be jacked up during big events, the POINTS price is consistent regardless of demand. This is the top tip for cheap hotels for big events. Point rooms are either available or they’re not, points prices don’t change. If you have enough points to buy the room outright, great. If not, you can buy points and it’s STILL cheaper than regular pricing. I had a small amount of points. I waited and bought more on a deal where I got an extra 80% of what I bought. (i.e. buy 100, get 180.) These deals happen frequently with most point programs.
With these loopholes we managed a very chic IHG (Holiday Inn parent company) lodging, near the track and across from the free shuttles, without spending major money. Balcony, covered pool, good bar with live music on site, and constant little touches that made it all special. (And I’d like to insert a big thank you here to Sam Adams, who bought hundreds of rooms here and then hosted an all-you-can-eat-and-drink welcome party for all guests on Thursday.) This scenario is the best value you can find dollar to point for hotels, even if you have to buy points.
May the road rise to meet you travelers, and may Sam Adams be hosting a party when you stop.
(Check out how to earn points easily without travel or even credit cards. Sign up for our newsletter for more insider hints to get you traveling.)
