booking hotel rooms and exchange rates
 

I am travelling to Spain next May and thought I should start checking into available hotel rooms since I know that May is festival time in Madrid. (I think I can wait a bit yet for the rest of the cities we're travelling to) My question is, if I book the room now, am I stuck with whatever the exchange rate is now? I'm going to guess yes and I might even book the room in Madrid as early as tomorrow. of course there's no way to know what the exchange rate will do (I think...just a hunch!) and the rate I'm looking at is right in the budget.

Thanks in advance for any replies!

tobyo

Some will only want a deposit.

Your exchange rate will be whatever it is the day you pay your hotel bill. If you make a reservation, but don't pay for your hotel until you check out, then the exchange rate will be whatever it is that day. On the otherhand, it you pre-pay your hotel stay, the rate will be whatever it is the day you pre-pay. Or, if you use a service like Expedia, they will quote it in US$

The hotel isn't dealing in any "exchange rate". They are charging € and will get €. They don't charge you in your home currency (or at least hopefully they don't since that would likely be DCC)

You aren't tied to anything until you actually pay. What you pay in US$ (or whatever your home currency is) will depend on when your credit card charge clears - most likely at check out. (Paying cash is the same concept - what you pay in $ will depend on when you w/d the cash from an ATM in Madrid)

exactly what I needed to know. thanks so much!