Booking.com promote strong pricing foundations as a way to boost your property’s performance and guest experience levels.
For this reason, you may wish to consider implementing multiple rate plans with Booking.com and other agencies – specifically non-refundable and flexible rates. By doing so, you offer potential guests the most clarity and flexibility when they make those all-important booking decisions.
Of course, as a property owner and/or manager, you want the rates and policies you apply to always be within your control. However, it’s worth considering the impact of using the following rate plans that allow guests to easily choose between their available options:
- Flexible Rate or Free Cancellation – The most popular rate types among our guests. This rate plan offers guests the option to cancel their booking for free up to a certain number of days before their check-in date. (5-7 days is optimal.) This makes it an attractive choice for those seeking flexibility.
- Non-Refundable Rate – Designed to secure more bookings and guarantee revenue. Guests who choose this rate plan are not entitled to free cancellations, which encourages them to commit to their bookings. This rate plan is often preferred by price-sensitive travelers.
Providing this choice gives you more flexibility to meet the travel needs of individual guests – incorporating things like whether they are traveling for leisure or business, or how far in advance they are booking.
It’s also beneficial to offer a combination of these rate plans, as properties with both offerings generally get a higher share of bookings. Booking.com’s own data suggests that this leads to an increase in visibility and a reduction in cancellations overall.
In short: guests love choice, so providing multiple options widens your appeal.
And to complement your connection to one of the world’s biggest travel marketplaces: eviivo’s Channel Manager, and our position as a Booking.com Premier Connectivity Partner, provides an instant 2-way connection to Booking.com that puts you in control. Save hours of manual work with automatic updates and enjoy the ease of managing everything in one place.
Act now to set up these rate plans and watch your bookings rise!