You Can Now Save on a Luxury Hotel With Your Costco Membership

You rely on Costco for toilet paper, bulk candy, and giant tubs of guacamole. And now you can use the wholesale retailer to book a luxury vacation.

Costco announced last month that it would begin offering its members discounts of up to 30 percent at luxury hotels around the world. The deals are available at Fairmount, Hilton, Hyatt, Raffles, and Swissotel luxury properties.

A basic Costco membership will set you back $60 per year — but it could pay for itself with one vacation. The Wall Street Journal found that booking a one-week stay at the Park Hyatt New York through Costco (at a little more than $5,000) cost 10 percent less than booking directly through the hotel. The price was also 7 percent cheaper than booking through an online travel agency. Another deal at the Chicago Conrad cost 22 percent less than what was advertised on the hotel's website.

Destination options extend to London, Paris, Singapore, Tokyo, Cape Town, Buenos Aires — every continent besides Antarctica. Members can browse the deals on CostcoTravel.com. Discounts on bundle holiday packages (like theme parks and cruises) are also offered.

However, travelers should be aware that a Costco deal isn't always the best option. Business Insider found that while some of the Costco deals offered significant savings, some other hotels were best booked through a search engine like Priceline. Be sure to do your research and compare prices before making a final booking.