Martin Lewis in warning to Brits who have a hotel booked this summer - 'cancel it'

Martin Lewis has issued a savvy tip for holidaymakers, suggesting they could "slice your costs" if they've booked a hotel. The money-saving guru shared his advice on Twitter and during his ITV show, The Martin Lewis Money Show.

"Booked a hotel or car hire? A quick trick to try that could slice your costs. Courtesy of @itvMLshow," Martin tweeted. He explained: "Is your hotel or car hire cheaper now than when you booked? If so, and you've got free cancellation, well, so keep checking the prices."

"And if you suddenly find it cheaper, well rebook, and then cancel. I sent you a success of this. You did send me success. A reader wrote into Money Saving Expert saying: 'In January 2024, I booked a two week car rental in the US for $1,024.

"'After checking comparison sites in May, I checked back, and the same car was available. I cancelled the first booking, had my deposit refunded, and rebooked at a lower price.' The lesson here is that booking early does not always guarantee the best price," reports Birmingham Live.

Martin added: "The lesson is here - get free cancellation."

However, one Twitter user warned: "We booked with http://stayforlong.com and on our last day the hotel informed me they had not been paid. I had to pay again and couldn't get through to stay for long.

"They have now informed me that they will not be reimbursing me as they do not accept my receipts? " one frustrated customer shared. Another warned: "Dangerous advice. Suppliers are not stupid. Algorithms will pick this behaviour up."

And another said: "Here's a better tip tell the government to tell the bank of England to lower rates NOW."

In contrast, a delighted holidaymaker boasted about their experience: "RIU Hotels had their Black Friday discount special and I'd already booked - so called them up and they matched the price! Great service. Saved us over £300," they exclaimed on social media.