NEW YORK, April 7 — Planning any holidays to Europe, Asia, or South America this summer? Booking a hotel now could save you 20 per cent off the room rate.

That’s according to the latest number crunching in a report from TripAdviser, which breaks down the best time to book hotels in popular destinations around the world this summer.

For its report, TripAdviser analysed hotel booking and interest in nine popular regions around the world for the months of June through to August.

The best time to book was defined as periods when prices dipped below average for the destination.

While hotel fares in the US remain consistent regardless of lead times, travellers headed to Europe are advised to book three to five months out for the chance to save 23 per cent during peak summer periods.

The same can be said for Asia, with the best time to book set at three months in advance.

Booking within four months can help travellers headed to South America and the Middle East save 20 to 24 per cent.

And travel to Africa and the South Pacific requires the most lead time if travellers want to save on their hotel: Five months out for savings of 20 per cent.

In addition to regions, the report also offers a handy list of best times to book hotels by city.

One of the standouts? Moscow, where travellers could save 55 per cent off their room rate if they book four to seven months out.

Likewise, a bit of pre-planning could help travellers headed to Dubai and Jakarta save 40 per cent if they book two months in advance.

Here’s a breakdown of the best times to book hotels at popular travel destinations around the world and possible savings: