Most travelers book a hotel and never look back. I do the opposite — and it recently saved me 7,000 points and $31 on upcoming stays. By booking flexible rates early and checking back for price drops, I’ve turned a quick habit into one of the easiest ways I save points and cash.

In practice, this doesn’t require much time or effort. Checking my 34 upcoming hotel reservations takes less than 30 minutes. After all, checking current rates is quick, and I don’t need to check award rates for bookings in programs like Wyndham Rewards and World of Hyatt, which have fixed award charts and therefore won’t drop in award price.

I book a freely cancellable stay as soon as I know I need to visit a particular destination on specific dates. Even if the rates are exceptionally high — as they were for a stay in Vancouver, British Columbia, last summer and an upcoming trip to Adelaide, Australia, this spring — I’ve learned to secure something and then keep checking. After all, while rates may drop, they often keep rising.

Then, I check my upcoming hotel bookings for price drops about once a week. In weeks when I have a little extra time, I’ll also restart my search for certain destinations from scratch, considering whether a different property or booking method might provide better value than what I’ve already booked.

Although I’ve been doing these checks for years, I only recently started writing down the price drops as I captured them. So, here are the price drops I captured in my two most recent weekly checks:

• Courtyard by Marriott Toronto Vaughan: Five-night stay in early August dropped by 1,000 Marriott points
• Holiday Inn Johannesburg Airport: One-night stay in late March dropped by 139.13 South African Rand ($8.62)
• Hotel Skopje City Centre: Four-night stay in late January dropped by 6,000 IHG points
• Hyatt Place Frankfurt Airport: One-night stay in late January dropped by 19.60 euros ($23.24)

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Interestingly, the savings on two bookings — Hotel Skopje City Centre and Hyatt Place Frankfurt Airport — were for stays with check-in dates within a day and two days. As such, it may be worth checking your bookings shortly before your stay if you can cancel for free until the last minute.

Hotel bookings are an easy place for travelers to spot price drops. After all, prices fluctuate frequently, and award pricing isn’t fixed in programs like Marriott Bonvoy, Hilton Honors and IHG One Rewards. Plus, while you might think loyalty programs wouldn’t like it when travelers reprice their stays, it is a way to keep travelers engaged with the program and to encourage them to frequently visit the program’s webpage or app. Some programs, such as Marriott Bonvoy, even make it easy to reprice your stays without needing to cancel and rebook.

Related: 10 truly special luxury hotels and resorts you can book with points

Bottom line

One of the easiest ways to reclaim points and save money is by monitoring upcoming hotel bookings. You don’t need to obsess or check daily. After all, even one quick check can pay off.

But as you book further out and check each stay periodically, you can save significant points and cash. Worst case: there’s never a drop, and you’re glad you booked when you did. And best case, you reclaim lots of points and cash with relatively little effort.

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