The best hotel deals are to be found one month from travel, according to new research from price comparison site trivago.co.uk.
The study challenges the popular belief that booking further in advance is more expensive.
The Trivago data reveals although prices do increase closer to the travel date, they generally do not reach the same rate as two to three months in advance.
Approximately one month in advance is the cheapest time to book, with average savings at their highest.
There was little difference between booking two months in advance and booking on the day of departure, making last minute travel a cost effective option.
Planning in advance rarely pays off, with prices at their highest and average savings at their lowest over two months in advance.
A Trivago spokeswoman said: “Although many people assume that hotel prices will be at their highest the day before travel, this is actually not the case.
“There is no significant difference between booking two months or one day in advance, and it is considerably more expensive to book three months in advance. This information really opens the door to last minute decisions and spontaneous trips.
“It is also interesting to note the country differences, with UK travellers frequently visiting France, Spain, Italy and Germany.
“Whereas holidays in Spain are best planned at least four weeks in advance, a trip to France could be booked just two weeks in advance for the best price.
“This takes the pressure off holidaymakers feeling they have to book their summer holidays months in advance.”
The analysis was based on data from January to December and price data from the past two years.