In August--when it feels like you're walking around town with a hot, wet blanket wrapped around your head--even the prices at the snazziest hotels begin to droop. Book as late as you can.

The grand-mere of posh Crescent City hotels, the Windsor Court (300 Gravier St., 888/596-0955, windsorcourthotel.com/) rents mostly suites. In deep summer, an 800-square-foot unit that normally costs $700 goes for $240. The Soniat House (1133 Chartres St., 800/544-8808, soniathouse.com/), on the quiet, lower end of the French Quarter, has 33 rooms with gleaming antiques and art. The cheapest goes for $250 in season, but come the dog days, just a single Ben Franklin will get you in. A couple of weeks before Mardi Gras, you'll pay $450 for a room at the W Hotel French Quarter (316 Chartres St., 888/625-5144, whotels.com/), but a few weeks before Labor Day, you can set the A/C to 60 and jump into its pillow-top beds for half that. Meanwhile, at the Ritz-Carlton (921 Canal St., 800/241-3333, ritzcarlton.com/), a $415 room can be had for just $129. Take the money you save and spend it at the spa.