Through this series, we are highlighting some of the deals and promotions that you can leverage to attract more business to your property through Booking.com.
In the third part of this series, let’s look at Flexi Rate and how and when to activate it.
Be more flexible with your rate policy
Thanks to the uncertain times we are living in, traveler behaviour has gone for a radical shift in the past one year. With flights being rebooked and travel plans being bumped, many guests are now wary of sudden change in plans.
According to a survey done in April 2020 by Booking.com, 73% of customers cited free cancellation as their main reason for booking a property. A fully flexible rate plan allows hotels to offer potential bookers more freedom in case their travel plans or general circumstances change.
However, because of its flexible nature, this rate plan is also the most expensive one making it the most profitable for hotels.
Flexible – 1 day policy
Due to the ongoing pandemic, most hotels across the world have taken a flexible approach to their pricing policy. Booking.com has recently created the Flexible – 1 day policy which allows hotels to quickly extend all your free cancellation periods to one day before check-in. This basically means a guest can cancel for free until 24 hours before the check-in. After that point, they will be charged the cost of the first night if they decide to cancel.
Benefits of the Flexible – 1 day policy
- Drive more bookings by potential guests looking for flexibility.
- Improve visibility in search ranking.
- Decide which rates you want to convert to ‘Flexible – 1 Day’ policy and have full control on all rates.
Adding Flexible Rate Plans
Hotels can create and manage the Flexible Rate Plan either from their RateTiger Channel Manager platform or from the Booking.com extranet. For any queries or to see how to set up this Rate, contact us today –marketing@erevmax.com