Pricing Foundations
Cater to changing travel needs
We’ve always known that travellers want rates that are competitive, transparent, and compelling. Making sure each potential guest is shown the right price at the right time is key to securing more bookings. It can also help reduce cancellations, minimise unsold rooms, and prevent the need for last-minute discounts.
A strong foundation is the key to any successful pricing strategy. Our base rate plans and customisations help you build a setup that’s right for your business. Once you set up your Rate Plans, it’s a good idea to regularly review and optimise them, maximising your reach with travellers, increasing your bookings, and driving higher occupancy over time.
Rate Plan fundamentals
A Rate Plan is the first thing you set up on our platform. It’s a combination of the fundamental elements of each booking:
- Price – what you charge for each room or unit
- Rooms – the room or unit types included in a particular rate
- Validity – how long before the check-in date a rate is available
- Length of stay – how long guests need to stay for a rate to be valid
- Cancellation – the date when a full or partial refund is allowed until and under what circumstances
- Meals – whether a rate includes certain meals, such as breakfast
Build a strong foundation with two base rate plans
We recommend beginning by offering a combination of both base rate plans:
Fully Flexible
Non-Refundable
Offers the most freedom for travellers, with free cancellation at least seven days before check-in.
This is generally the most expensive Rate Plan on our platform – it’s also the most booked.
Can help you secure more guaranteed bookings and revenue, but at a lower price.
This is a popular choice for bookings made less than one week in advance.
Fully Flexible
Non-Refundable
Offers the most freedom for travellers, with free cancellation at least seven days before check-in.
This is generally the most expensive Rate Plan on our platform – it’s also the most booked.
Can help you secure more guaranteed bookings and revenue, but at a lower price.
This is a popular choice for bookings made less than one week in advance.
Fully Flexible
Offers the most freedom for travellers, with free cancellation at least seven days before check-in.
This is generally the most expensive Rate Plan on our platform – it’s also the most booked.
Non-Refundable
Can help you secure more guaranteed bookings and revenue, but at a lower price.
This is a popular choice for bookings made less than one week in advance.
Why offer a combination of Rate Plans?
Booked most frequently
Travellers book Non-Refundable and Fully Flexible Rate Plans more than any other on our platform. These two Rate Plans offer more clarity, as it’s easy to compare prices and choose the best option.
Different preferences for different trips
Our data shows that travellers book both Flexible and Non-Refundable Rate Plans, depending on their needs per trip and how far in advance they book. It’s beneficial to offer both to keep your rates compelling to a wide range of customers at all times.
More guests in your property
Partners with both Rate Plans see, on average, a higher share of bookings. You could be missing out if you don’t offer both Non-Refundable and Fully Flexible Rate Plans.
Customise your rates and attract more travellers
In addition to the two base rate plans, it can be useful to explore customisations. These can help bring valuable traveller groups to your property.
Long-staying guests
Early bookers
Families with children
Groups and single travellers
Weekly and Monthly Rate Plans increase visibility to the growing number of travellers searching for stays of seven days or more.
The Early Booker Rate Plan attracts travellers who like to plan ahead. It helps you secure more revenue in advance – and reduce cancellations.
Setting competitive child rates can lead to an increase in family bookings by up to 15% on average.
Tailor your prices to the number of guests and increase bookings by up to 4% with pricing per guest.
Long-staying guests
Early bookers
Weekly and Monthly Rate Plans increase visibility to the growing number of travellers searching for stays of seven days or more.
The Early Booker Rate Plan attracts travellers who like to plan ahead. It helps you secure more revenue in advance – and reduce cancellations.
Families with children
Groups and single travellers
Setting competitive child rates can lead to an increase in family bookings by up to 15% on average.
Tailor your prices to the number of guests and increase bookings by up to 4% with pricing per guest.
Long-staying guests
Weekly and Monthly Rate Plans increase visibility to the growing number of travellers searching for stays of seven days or more.
Early bookers
The Early Booker Rate Plan attracts travellers who like to plan ahead. It helps you secure more revenue in advance – and reduce cancellations.
Families with children
Setting competitive child rates can lead to an increase in family bookings by up to 15% on average.
Groups and single travellers
Tailor your prices to the number of guests and increase bookings by up to 4% with pricing per guest.
Benefits of a strong foundation
Our data shows that properties with two base rate plans and at least one customisation see the most success. For example, partners with both base rate plans and the Early Booker Deal experience on average a 5% increase in bookings, an 11% increase in visibility and a 9% reduction in cancellations.
Explore the full Pricing Toolkit
Setting up your Rate Plans is the first step to putting a winning pricing strategy in motion. Once you have your Rate Plans set up, discover our pricing toolkit, designed to help you maximise your occupancy.