Martin Lewis urges people to do little known hotel hack this summer to save money on holidays

Martin Lewis has shared a little known travel hack which could save holidaymakers money this summer.

Lewis - who founded Money Saving Expert (MSE) back in 2003 - has found himself being a British hero of sorts in the past couple of years, thanks to his expert tips on how make the most of your money.

With many if us set to escape the miserable British summer for some well-deserved warmer weather, the money saving guru is back with another tip which could see you save some cash on your trip.

Appearing on his ITV show The Martin Lewis Money Show, the financial journalist revealed that travellers could potentially save money by rebooking and then cancelling their original reservations.

"Is your hotel or car hire cheaper now than when you booked? If so, and you've got free cancellation, well, keep checking the prices. And if you suddenly find it cheaper, well rebook, and then cancel," he said.

Co-host Jeanette Kwakye then shared a previous success story from one of Lewis' followers, with the individual able to save on a car hire in the US.

"In January 2024, I booked a two week car rental in the US for $1,024. After checking comparison sites in May, I checked back, and the same car was available. I cancelled the first booking, had my deposit refunded, and rebooked at a lower price," she read.

"The lesson here is that booking early does not always guarantee the best price."

Martin Lewis has been dishing out advice again. (Getty Stock Images)

Lewis went on to urge listeners to make sure they 'get free cancellation' on trips as rebooking could potentially save you money.

Just make sure to check prices and availability on the site and rebook before cancelling your initial reservation to avoid losing your reservation altogether.

Lewis' followers were quick to share their success stories in the replies, with one person commenting: "Have done this three times on car hire, and normally save around £150. Sometimes, it’s even possible to upgrade the car for the new lower price. Always do it around 2-weeks before departure."

"I found this book at a hotel in London for July at nearly £600 for 2 days back in January, on the off chance I checked earlier this month and it had dropped to £250ish so cancelled and rebooked," a second person wrote, while a third added: "Thanks. Rebooked a hotel, and saved £180."

Martin Lewis shared the tip on his show. (ITV)

This isn't the only advice Lewis has shared with anyone travelling abroad this summer, with the financial whizz urging people to be wary of hidden charges when using your card overseas.

"Spend in a foreign currency on plastic and most banks add a 3%-ish fee - technically the 'non-sterling exchange fee' - to the near-perfect exchange rates they get," a recent MSE email read.

"So £100 worth of euros/dollars etc costs £103."