As we reach the end of January, many of us will already be looking ahead to a much-needed summer holiday. But with wallets stretched after the festive period, any money-saving method to help hopeful holidaymakers save a few pennies is welcomed.

Travel retail giant On the Beach has introduced a groundbreaking new scheme in which you can claim back a portion of your booking. The ‘Price Drop Protection’ ensures that if the cost of a holiday decreases after booking and up to 60 days before departure, customers can reclaim the difference, regardless of the amount, reports the Manchester Evening News.

This policy guarantees you get the cheapest price for your summer holiday, but you’ll have to be quick as it only applies to bookings made by midnight on February 3. Zoe Harris, chief customer officer at On the Beach, shed light on the rationale behind this initiative, saying: “We know that a whopping 75% of holiday wanting Brits are worried about prices going up if they wait, yet many are willing to take the risk to see if they can secure a better deal.

“We’re now eliminating all risk, anxiety, stress and worry for customers with our industry first Price Drop Protection. Customers are guaranteed the lowest price and if it does drop, fear not, because you can claim the difference back.”

But the perks don’t end there, as On the Beach customers can also bag free airport lounge access this summer – details of which can be found on its website. To gain lounge access, all you need to do is book a five-star holiday and free entry into the airport lounge is guaranteed.

For instance, if you’re eager to end the summer in style, consider booking the five-star Ixian Grand and All Suites hotel in Rhodes, Greece for £1,151 per person. This all-inclusive package includes hotel and flights, and you’ll save £84 on lounge entry with this trip.

Another deal that guarantees free lounge access is the Eden Roc Resort Hotel package in Rhodes. With eight different restaurants to choose from and beachfront views, it’s a luxurious holiday that promises paradise even before you take off.

If Cyprus is more your bag, an all-inclusive five-star holiday at the Leonardo Plaza Cypria Maris Beach Hotel and Spa, with flights from Manchester, for £1,150 will secure you free lounge access before your flight. Located in Paphos, this adults-only hotel boasts stunning sea views.

It’s crucial to remember that not all deals include hold luggage, so if you plan to pack a bit more and require a bag in the hold, ensure you factor that into your holiday search. You can check out On the Beach’s holidays here.

If you’re contemplating whether lounge access and this deal are worth considering, one of our reporters reviewed one last year. Here’s what she had to say: “Passengers typically pay a fixed fee to access a lounge, in exchange for a variety of food and drink options tucked away from the hustle and bustle of the Departures waiting area. Manchester Airport, which serves over 160 destinations, boasts nine lounges across its three terminals.

“The Escape Lounge offers ‘an oasis of calm’ and is the most budget-friendly choice, priced at £28.99 per person (accurate at time of original writing). Having never experienced a lounge before, I decided to test out this claim at Terminal 1 – and I can’t believe I waited so long.

“The stress of navigating through a crowded security checkpoint began to dissipate, replaced by a fluttering sense of anticipation as I followed the signs to the airport lounge. As I strolled down the corridor towards the lounge entrance, it evoked the feeling of checking into a hotel.

“I was welcomed at the door by two staff members and provided my name – I had pre-booked and paid for my slot online, which required selecting an approximate entry time. I was then offered the option to sit at either a dining table or a coffee table.

“The lounge is impressively spacious, boasting an array of seating options with small coffee tables in one area and larger dining tables in another. Adorning one of the walls are clocks displaying various times around the globe, and notably, the space lacks windows.

“Upon my arrival, there were only a few others present – a stark contrast to the bustling crowds I had encountered earlier. I was told I could help myself to the buffet and order drinks at the bar.

“So, naturally, I headed on over. A sign at the bar noted that spirits would only be served in single measures and beer and cider would be offered up in two-third pint glasses.”

“I could’ve easily fallen asleep on the plane after my time in the lounge, so for longer-haul flights I would be rushing to book in again. It’s changed my approach to travel for the better and just goes to show that having some time to de-stress – and a taste of luxury – ahead of a stressful day of travelling really puts your mind at rest.

“In total, Escape Lounge access at Manchester Airport costs £29.99 per person – but was it worth the money? I compared what I consumed to the prices of similar products at the nearby Giraffe restaurant in Terminal 1 to find out.

If you’re not booking through On the Beach and happen to be an Amex Gold credit card holder, you can fully utilise its benefits and access. Alternatively, you could purchase an airport lounge access pass with Priority Pass.

The most affordable and basic package is the ‘Standard for the Occasional Traveller’, priced at £69 per year. This means that the member and any accompanying guests will be charged £24 for lounge access.

While many holiday websites may not provide refunds for holidays found cheaper elsewhere, some do offer price match guarantees, including Love Holidays and Thomas Cook.