Cheapest time to book a holiday?

[Clevs]

We've just returned from a half-term holiday to Lanzarote. Booked end of August/early September. Last year we also went to Lanzarote in October half term and that was booked two weeks before going. We didn't stay in the same hotel but were in the same resort and both were package deals with the same tour operator. There was about £1000 difference in the cost, but the hotels had different facilities so difficult to compare as they weren't exactly like for like.

Whilst we were away this time we discussed about going back next year, probably to the same hotel that we stayed in this year and the best time to book.

Is it cheaper to book a year in advance? Or last minute? (If so, how last minute?). Or somewhere in between? I plan on looking to see if Martin Lewis has any advice, but just wondered if anyone had any real life experience of the best time to book?

I would probably sway towards last minute but I do like to have it booked in advance to know where I’m going and look forward to it. I booked our holiday (next month) about 7/8 months ago and thought I’d got a good deal. I ended up wanting to switch to the hotel across the road as it’s the sister hotel and after reading a lot about them on Facebook it seemed like the better option but is always way more expensive. I priced it for the week we were going and it wasn’t much more than we’d paid at all (it’s usually hundreds, if not thousands more). So ended up changing to that one but in hindsight if I’d waited I could have just booked that last minute. I think we’d have paid more if we’d booked the same hotel 7/8 months ago.

Now hoping to go a week in Spain in the summer but going to plan for roughly when we’ll go and wait to book last minute

Look at the prices for next year on the website now.

Just me and DH. l pretty much always book last minute for the school summer holidays. I don’t mean to but it always ends up as the only time off we both get. I did a bargain Easyjet holiday in 21, a cruise in 2022 and France AirBNB in 2023. All much cheaper than booking early..
I’ve had a lot of success booking my winter holiday ( flights and hotel) in the Black Friday Sale. I guess that’s only two months in advance still.
The only thing I book ahead is if I have a definite destination which might be popular like a gig or sports game.

I found a great deal for a nice hotel in Lanzarote in January of this year. Trip was Easter time Not sure if it was just luck though. The flights are the pinch point if you don't book a package.