The movie was originally going to be titled "Hot Tub Time Machine 3" as a joke about the time travel, but the studio would not allow that, claiming it would be too confusing.
The film's budget is significantly lower than the first film, due to John Cusack's absence, who had a larger salary than his former co-stars. Despite the smaller fourteen million dollar budget, the movie still lost money, earning only thirteen million dollars worldwide.
When Lou tries to hit Chevy Chase with a golf putter when they first arrive in the future, Chevy says "na nana na nana na", which is a reference to Caddyshack (1980).
The original release date was scheduled for Christmas of 2014, but after The Interview (2014) was moved to that date by Sony, it was moved to February 20, 2015, to avoid competition.
After being shot, Lou is dragged up the steps and Jacob moves a squirrel statue to get into the back room. The squirrel was in the first film and was part of the "butterfly effect".