Pricing that caters to changing travel needs

 

We’ve always known that travellers want great prices. They’re attracted to rates that are competitive, transparent and compelling. But flexibility has taken on new importance since the beginning of the Coronavirus (COVID-19) pandemic. On our platform, we’re seeing both local and last-minute bookings in countries where recovery is beginning, as well as future travel planning. But travellers want to be confident that their bookings are flexible enough to adapt to changing circumstances.

Our new framework makes it easier for you to understand how our pricing solutions can help you respond to travellers’ requirements and drive the occupancy you need.

A framework for understanding your pricing options

 

Whether you’re new to setting rates or you’re looking to grow your booker base, our pricing solutions can help increase your occupancy in different ways.

  • Foundation: Rate Plans you set initially to appeal to the widest possible range of travellers.
  • Proactive: Solutions to support your long-term revenue strategy, like appealing to specific markets and improving your visibility throughout the year.
  • Reactive: Solutions to help you boost bookings at a specific time, such as to replace multiple last-minute cancellations.

You control which solutions and Rate Plans you use to help fulfil your pricing strategy. Our role is to support your choice, making sure travellers always receive a great price and have a great booking experience.

 

Add Rate Plans

Essential Rate Plans for a strong pricing foundation

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pricing foundations

 

Our data shows that you’ll achieve the best results for occupancy when combining three Rate Plans: Free Cancellation, Non-Refundable and Early Booker.

 

On average, partners who activate all three see a 5% increase in bookings, an 11% increase in visibility and a 9% reduction in cancellations.

 

How you set your rates is always your choice, but we recommend offering at least two of these three Rate Plans.

 

Choose Rate Plans that attract the widest variety of travellers

To maximise occupancy, we recommend using a combination of the three Rate Plans we offer:

 

Free Cancellation

Offers the most flexibility for travellers whose plans may change. This is generally the most expensive Rate Plan on our platform – it’s also the most booked.

Non-Refundable

Popular with price-sensitive travellers, this Rate Plan generally offers lower rates than Free Cancellation ones but can help you secure more guaranteed bookings and revenue.

Early Booker

Appeals to travellers who plan ahead, offering them great value. This Rate Plan helps you secure revenue far in advance.

Add maximum flexibility to your Rate Plans

 

73% of travellers who booked in April 2020 said free cancellation was the main reason they chose the property they did.

 

To help you make the most of the demand for flexibility, we’ve created the Flexible - 1 day policy. It allows you to quickly extend all your Free Cancellation periods so that your guests can cancel up to one day before check-in.

 

Using Flexible - 1 day also helps to make your property more visible on our platform. Our data shows that partners who implemented it increased their visibility by up to 23%.

 

Convert your rates Learn more

 

 

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pricing foundations