I am starting to book hotels for a planned trip next March (2022), and of course I am only booking refundable rates.
While some travel costs have risen (especially for trip insurance and tours), I have found that some London hotels are pretty moderate, plus they are offering discounts (around 10-15%) for full payment in advance, still with full refund if canceled at least a week ahead. I can see the motive on their part—-they can use the money now—-and it also works for me as we have travel-budget $$$ sitting around from last year’s canceled trips. I am happy to have the hotels use the money now, as I am trying to reach a minimum spend requirement on my credit card for a 2-4-1 flight voucher. 😏