Examples of reservation in a SentenceI have a hotel reservation. My only reservation about buying the car was its high price.
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Book and Reserve are synonyms for the action of making a full or partial financial commitment in advance. The prime and only difference between them would be that “Booking something” is widely used in British English whereas “Making a reservation” is predominantly used in the Americas.
Yes, last-minute bookings are (usually) better. A 2022 NerdWallet study analyzed more than 2,500 hotel room rates from 2019 through the first half of 2021 and found an average of 13 percent savings for those who booked 15 days in advance as compared to those who booked four months in advance.