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5 Ways to Save Money on Hotels

Frequent traveler? Here's a way to cut back on lodging costs.

If running your business requires a ton of business travel, chances are you're spending a lot on hotels.

While companies such as Expedia, Booking.com, and Priceline have changed the way consumers hunt for travel deals, a new crop of sites is helping rewrite the rules on price competition by offering better rates than the usual suspects. Here are five worth checking out, spotlighted recently in The Wall Street Journal.

1. Stayful.com. This website determines a fair market price for unsold inventory at hotels using an algorithm then encourages customers to bid with the suggested price. Stayful co-founder Cheryl Rosner recently told the Journal that hotels accept the Stayful price roughly 60 percent of the time. Even when hotels reject the Stayful bid, they often counter with a rate that's lower than the advertised rate.

2. HotelTonight. This mobile app offers steep discounts--as high as 70 percent--on same-day hotel bookings. HotelTonight recently made its service available for Windows Phone.

3. TripBAM. This site takes things one step further by scanning prices even after a reservation has been made and notifying customers if a cheaper deal pops up. TripBAM will continue looking for a better rate until the day you check in.

4. Yapta. This site, whose name is short for Your Amazing Personal Travel Assistant, similarly alerts travelers when prices on both hotels and airfare go down.

5. Airbnb. While not a hotel-discounter site, Airbnb allows customers to find vacant apartments and properties for short-term rent by owner. There's no room service, but the rates are often a steal compared with typical business-traveler hotels.

Obviously, not every business trip can be booked on the cheap. But before you pay full price for lodging on the road, see what kind of savings you can generate with help from today’s newest travel sites.

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Last updated: Jun 5, 2014

GRAHAM WINFREY

Graham Winfrey is a staff writer for Inc.com. He previously covered alternative investments at Private Equity International magazine, prior to which he worked at Business Insider and MSNBC.com. He lives in Brooklyn, New York.




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