Looking at reservation page for hotels stateside and have the option of prepaying in dollars or Euros - any suggestions?
rolabeanhair, rule of thumb is always use the currency of the country you will be in. That way, your credit card company will be doing the conversion at the more favorable interbank rate, as opposed to the hotel choosing whatever rate they want. If you want to check, compare what the hotel rate is in dollars versus in euro, then look at the current interbank rate, and see for yourself.
Just did a test for booking an Ibis Budget Luzern City hotel, one room for two adults 11 July to 12 July (1 night):
Current CHF to USD = 0.999635 (Virtually parity) https://www.xe.com/currencyconverter/convert/?Amount=1&From=CHF&To=USD
Expeida (double room double bed free cancellation): 124.00usd + 7.10 usd resort fee
Ibis website (double room double bed flex rate):
128.36usd + 7.96usd
129 chf + 8.00 chf
Expedia seems to be booking at a small discount to the hotel website. Expeida only books at USD.
The hotel web site seems to be booking at esentially interbank rate. With the switching between currencies a calculation convenience.
Note that using the reference links will give you dynamic results, not locked in to what I just looked up.
I should add that hotel sites that offer to display rates in foreign currency are likely booking in local currency (e.g. Euros) and are offering the converted amount only as a reference. In that case, you would be chared in local (e.g. Euro) currency on arrival.
In the case of Expedia, they may be charging you in advance in USD with the ability to cancel (i.e. get a refund) if you meet cancelation terms and conditions.
In some cases, booking websites and/or hotel websites offer reduced rates for prepaid accomodations. In that case, the charge will go through when you book or shortly after.
I use Expedia, Booking, and also reserve directly through the hotel or B&B sites. For those that I’m paying immediately while reserving from home, I pay in dollars. For those that I pay at the hotel ( even if booked through E or B), I pay in Euros. The Expedia reservations paid up front, for instance, don’t have an international charge coming through my charge card.
Thanks to all for the feedback - I'm currently looking at hotel deals online where I might cancel the booking ( I'm flying standby). As the last comment would suggest, It would make sense that I'd ultimately be paying in the currency where checking-in, regardless of whether I elect $ or Euros. Upon learning the outcome to my query, I'll update this posting.
I also use Hotels.com for booking hotels/checking prices. And like those above, when paying from home (in the US), I pay in US dollars. If I'm there, I pay in the currency of the country in which I am visiting.
I think the credit card you use may be a factor whether you choose € or $. If your credit card doesn't charge int'l transaction fees, I would consider paying in €.
Also, look at the final cost of the hotel stay and go to XE.com to find out if the exchange rate the hotel uses for the $ is accurate, favors you, or favors them. If they do DCC, I would opt for paying in €.
Last, if you do pay in €, if you do cancel, if the $ weakens at the time of your trip, you'll lose money. Likewise, if the $ strengthens, you might come out ahead. There is no way to know in advance without your crystal ball. If you paid in $ and cancel, you will be refunded exactly what you paid.