Already looking forward celebrating the arrival of 2018 at a fabulous destination, but afflicted with champagne taste and a beer budget? Turns out, you can still celebrate the new year at a trendy hotspot - you just need to know which accommodation type to book: a vacation rental or hotel?
Hipmunk analyzed the historical hotel and vacation rental bookings for New Year’s Eve and found that booking a vacation rental, instead of a hotel, saved NYE revelers an average of 23 percent. That’s despite the fact that vacation rentals see a higher price spike than do hotels during the holiday (a 70 percent increase, compared to the 56 percent increase that hotels see).
Some key findings:
- NYE revelers save an average of 23 percent by booking a vacation rental instead of a hotel
- This is despite the fact that vacation rentals see a higher price spike than do hotels during the holiday (a 70 percent increase, compared to the 56 percent increase that hotels see).
- Boston, which ranks as the no. 13 most popular destination, is the only city in the top 20 where a vacation rental ($296) is more expensive than a hotel ($207).
- Ski meccas like Park City, UT; Stowe, VA; or California’s Mammoth Lakes and Big Bear, also have high per-night vacation rentals, making it more economical to book a hotel.
- Booking a two-room vacation rental versus two hotel rooms returns an average savings of 27 percent.
- 36 percent book accommodations happen the week of New Year’s Eve
Here’s how that savings translated into the most popular NYE locations:
Which cities buck the trend?It is important to note that there are a few exceptions when it comes getting the best deal on a place to stay for New Year’s Eve. Boston, which ranks as the no. 13 most popular destination, is the only city in the top 20 where a vacation rental ($296) is more expensive than a hotel ($207). Ski meccas like Park City, UT; Stowe, VA; or California’s Mammoth Lakes and Big Bear, also have high per-night vacation rentals, making it more economical to book a hotel.
Here is the full list of the cities where it’s cheaper to book a hotel for New Year’s:
| City |
1-Room Hotel
| 1-Room VR |
% Diff
|
| Pigeon Forge, TN |
$137
| $467 |
240%
|
| Corpus Christi, TX |
$77
| $179 |
134%
|
| Gatlinburg, TN |
$135
| $296 | 119% |
Park City, UT
| $489 | $970 |
98%
|
| Vancouver, BC |
$152
| $246 |
62%
|
| Boston, MA |
$207
| $296 |
43%
|
| Big Bear Lake, CA |
$256
| $365 |
43%
|
| Mammoth Lakes, CA |
$437
| $596 |
36%
|
| Chicago, IL |
$165
| $223 | 35% |
| Charlotte, NC |
$183
| $242 |
33%
|
| Kissimmee, FL |
$114
| $145 |
27%
|
| North Las Vegas, NV |
$147
| $180 |
22%
|
| Stateline, NV |
$356
| $414 |
17%
|
| Panama City Beach, FL |
$124
| $137 |
10%
|
| Austin, TX |
$172
| $185 |
8%
|
| Stowe, VT |
$234
| $243 |
4%
|
What if I am going with friends?
A one-room hotel or vacation rental is great for one or two people, but what happens when you’re partying in a group? Is it cheaper to book two hotel rooms or a two-room vacation rental?
A one-room hotel or vacation rental is great for one or two people, but what happens when you’re partying in a group? Is it cheaper to book two hotel rooms or a two-room vacation rental?
We did the math and booking a two-room vacation rental versus two hotel rooms returns an average savings of 27 percent.
Of course, in some luxury locales, like Cancun or Tulum, Mexico, or those aforementioned ski meccas, you’re probably better off just sticking with a hotel. In Stowe, VT, a two-room vacation rental cost a whopping $1,214 average!
Here’s how the pricing at the most popular cities for two-room bookings compares to their one-room counterparts:
City
| 1-Room Hotel | 1-Room VR |
% Diff
| 2 Hotel Rooms |
2-Room VR
|
% Diff
|
| Las Vegas, NV |
$240
|
$143
|
-40%
| $480 |
$196
|
-59%
|
| New York, NY |
$336
|
$197
|
-41%
| $672 | $610 |
-9%
|
| San Francisco, CA |
$240
|
$217
|
-10%
| $480 | $236 |
-51%
|
| Los Angeles, CA |
$192
|
$123
|
-36%
| $384 | $276 |
-28%
|
| London, GB |
$228
|
$132
|
-42%
| $456 | $292 |
-36%
|
| Cancun, MX |
$418
|
$140
|
-66%
| $835 | $978 |
17%
|
| Kihei, HI |
$966
|
$347
|
-64%
| $1,932 | $171 |
-91%
|
| South Lake Tahoe, CA |
$431
|
$178
|
-59%
| $861 | $419 |
-51%
|
| Puerto Vallarta, MX |
$281
|
$94
|
-66%
| $563 | $174 |
-69%
|
| Denver, CO |
$169
|
$92
|
-46%
| $339 | $569 |
68%
|
| Panama City Beach, FL |
$124
|
$137
|
10%
| $249 | $342 |
38%
|
| Pigeon Forge, TN |
$137
|
$467
|
240%
| $274 | $575 |
110%
|
Big Bear Lake, CA
| $256 |
$365
|
43%
| $512 | $413 |
-19%
|
| Tulum, MX |
$299
|
$210
|
-30%
| $598 | $716 |
20%
|
| Queenstown, NZ |
$359
|
$282
|
-21%
| $717 | $569 |
-21%
|
| Vail, CO |
$598
|
$259
|
-57%
| $1,196 | $550 |
-54%
|
| Stowe, VT |
$234
|
$243
|
4%
| $469 | $1,214 |
159%
|
More NYE Vacation Rental or Hotel Facts:
- 82 percent of all bookings are for four or fewer days
- A whopping 43 percent of bookings are for just one night
- 93 percent of all NYE accommodation bookings are for one room
- 36 percent book accommodations happen the week of New Year’s Eve
- The average NYE 1-Room Hotel Price is $219
- The average NYE 1-Room VR Price is $169
Methodology: Hipmunk analyzed its historical one- and two-room vacation rental and hotel bookings from Jan 1, 2016 – Dec 31, 2016, with a check-in date of Dec 28 – Dec 31, 2016, to determine most-booked and the average price of each accommodation type.
