How to stick to your accommodation budget
April 22, 2009 in Money and Finance
No matter how carefully you shop around, the cost of accommodation will take up a major chunk of your travel or holiday budget. And with the bite of recession pushing us to stretch our travelling funds further this year, finding real value for money on your accommodation is even more important. Here’s how to open up the world of travel — even in the credit-crunch — by keeping the price of accommodation to a minimum.
Choose a hostel over a hotel
The stereotype of basic bunkhouses filled with drunken students has been replaced by a new breed of budget accommodation — the boutique or ‘flashpacking’ hostel. Catering to the increasing number of travelers looking for low prices but a higher standard of facilities, these hostels are a great alternative to hotels, even for those who wouldn’t necessarily consider themselves ‘backpackers’.
The new, chic properties offer such style and convenience that, aside from the prices and the dorms, they wouldn’t look out of place in a hotel (see London hostels like Palmers Lodge, housed in a restored mansion, or arty and unique Lisbon Lounge in the Portuguese capital).
Hostels can also have some great additional benefits, such as kitchens — try self-catering a few meals to avoid the expense of eating out every night.
Escape hidden costs
Traveling is full of hidden ‘extras,’ from airline taxes to insurance, that all add up to damage your budget — and this can also be the case when booking accommodation in advance. Head to HostelBookers to search and book your accommodation online — it’s the only independent booking website that doesn’t charge a booking fee.
In addition, watch out for currency hedging — some websites increase the conversion rate from a hostel’s local currency to earn themselves additional commission on every booking they receive.
Before you travel, it’s also a good idea to read reviews and ratings of the accommodation from other guests, or check out one of the increasing numbers of hostel videos available, to get a clear picture of what’s on offer. That way, there’ll be no nasty surprises when you arrive at your destination, and no need to dip into the emergency funds for another hostel!
Make time for research
Booking a bed at the really cheap hostels might not actually be the best idea. Instead, look carefully at the facilities on offer in each case — somewhere that includes internet and breakfast (and lunch if you help yourself to an extra roll) in the price of a room could actually work out cheapest overall.
Location is another important factor — hostels on the outskirts of a city are typically less expensive than those in the center, but using pricey public transport to and from the sights every day can make costs add up in the long run.
If you’re only staying in a destination for a few days, a hostel within walking distance of the sights could be better value, but it could also make sense to stay further out if the transport is both convenient and cheap — look out for city passes that offer entrance to top attractions and unlimited local travel.
Either way, a little research can make all the difference when it comes to real ‘value for money’!
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