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Does booking.com offer any financial assistance to owners who may require some short term financing who are at risk at losing there home and the $30 000 worth of advance reservations sitting in booking.com's bank account.

I have fallen behind on my payments for my home that is the main source of income via our vacation home rentals.  For 2 months now, I have fought tooth and nail to take over our credit card transactions in order to influx some cash flow to assist me in getting our financial payments in order to keep our property.  I was told on 3 occasions this was going ahead and then subsequently the request would stop until last week I was told my property wasn't eligible.  This, as it may be, has not helped my situation and as of today doesn't look good.  Our property has approx $4000 of other reservations and  $26 000 of booking.com reservations sitting on their system, with at least half of those funds processed in prepayments in their bank account.  I need some short term financing which our local banks are not willing to look at, I can't find anything else to help me with this issue-  so I am asking if booking.com does any partner financial assistance programs or interim financing or perhaps they may extend part of my money they already have to help me out, cause after tomorrow all of those reservations will have to be notified  that thee reservations will have to be cancelled.

6 Replies

7
Thuild - Your …

Hello there,

What do you mean that you have fought to take over the credit card transactions? From whom?

How are you working with BDC (booking.com)? Do you get paid via Virtual Cards or bank transfer?

Your main issue is that you cannot get payment for reservations that have already stayed or you want to take payment for reservations that are in the future?

What reservation policy do you use?

Hopefully if you can clarify those questions, we could find a solution.

Best regards,

Zsolt - www.thuild.com

6 months ago
1
Dwayne Snisarenko

Currently I am being paid via bank transfer with Payments by booking.com - when opening my second location i requested to Opt out of payments by booking.com so that i could process my own credit cards for the prepayments of advance reservations which booking,com currently accepts and has the money in there account I was wanting the benefit of the advance payments in order to secure extra funding to help with my financial crisis.

6 months ago
7
Thuild - Your …

Dwayne,

If you have guest's credit card information, you can only charge them according to the cancellation policy that you have set up for your property. You won't be able to charge them in advance, as that will land you with some nasty charge-back requests that can get your bank to shut down your activity.

On the other hand, if you're getting Virtual Cards from BDC, then you can only charge them after the check-out date. Therefore you still need to wait for the guest to arrive and stay at your place.

Those future bookings can come and go. Therefore you cannot charge those cards beforehand, some might cancel within the window and will receive an automatic refund from BDC. That's the idea behind this.

Best regards,

Zsolt - www.thuild.com

6 months ago
1
Brixtony1

Hi

This is not quite correct

"On the other hand, if you're getting Virtual Cards from BDC, then you can only charge them after the check-out date. Therefore you still need to wait for the guest to arrive and stay at your place."

If you have prepayment set up of 30 or 60 days, Booking.com allows you to collect virtual credit card payment 30 or 60 day before arrival.

I only noticed this by chance.

5 months ago
7
Thuild - Your …

Hey Tony,

Sure you can set that up and see a decrease of at least 50% of the bookings.

Also depends where your property is located, what's the market, etc.

Same goes for non-refundable rates, you can charge them, but not everyone is using such setups and it may not work for them at all.

A city based property will never get their gross bookings 60 or 30 days before, more like 5-3 days before arrival, therefore the conditions must be different.

If you want to experiment, you can try it, but from experience, prepayment never works if it's the ONLY method you're offering guests.

Cheers,

Zsolt - www.thuild.com

5 months ago
1
Brixtony1

It seems that many of Dwayne's guests are happy to pay in advance but he can't get hold of the money.

It is possible to have two tariff rates? One no advance payments and one 60 days in advance. At least he could access the cash already paid to Booking.com 60 days in advance without losing guests that prefer not be pay in advance.

Not sure if this is a possible set up.

5 months ago