Traveling at the last minute can be inconvenient: you need to pack up a lot of clothes in order to get to where you want to go, but you need only a little time to make sure that you pack your clothes well and that you don't miss anything or forget any of your necessities and toiletries.
You need to get your tickets, have a ready schedule of all the things that you are supposed to do – and book a hotel without having to spend a lot of money on having a last minute trip. A lot of travel agencies and hotels know this tendency of people to do things at the last minute, and they promptly up their rates so that they can get more money out of last minute travelers.
There are ways that you can avoid this, however, whether you are anticipating a lot of last minute travel, or you're already in the fray and looking for a place to stay in. there will be no dearth of discounts especially if you are in a tourist friendly city, where a lot of hotels just can't wait to get clients or customers no matter what time of the year, no matter how long it took for you to make the booking.
One way to avoid ever getting bad rates is to actually talk to your travel agent beforehand and ask for discount rates for hotels just in case the day comes when you actually need those discount rates for some last minute travel. Your agent may have contacts at some hotels, and at some hotel chains that will extend their services abroad, so you can talk to your travel agent about what rates are good even before you need them.