The new campaign, created by Beattie McGuinness Bungay (BMB), launches on 11 February across TV, print and online channels. Media buying is handled by MediaCom.
The ad introduces two new characters to the brand's advertising, Lucy and Ben, who act out the "romantic" and "light-hearted" story of their relationship and the role that hotels play within it.
The ad shows the couple meeting in a range of hotels through a sequence of events, from a budget hotel for a business trip, to a romantic stay in a luxury boutique hotel.
The ad was produced by Hotspur & Argyle and directed by David Kerr, who worked with creative director Simon Bere, copywriter Lorelei Mathias, art director Nathalie Turton and planner Jamie Inman.
Jessica Reading, director of marketing and user experience, LateRooms.com said: "We understand that our customers have different accommodation needs influenced by the reason they travel and who they travel with.
"The story of Ben and Lucy brings to life the needs, desires and decisions experienced when booking a hotel, and personifies an exciting new direction for our advertising campaign.
"We feel that the content successfully represents our dedication to not only offer great value for money, but to also empower and inspire consumers when they are looking for somewhere to stay."
The last work BMB created for the brand was in March last year, showing a series of thought bubbles containing the different types of accommodation on offer to consumers.
Follow Loulla-Mae Eleftheriou-Smith on Twitter @LoullaMae_ES