Pricing Foundations

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: Two base 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. Start with a foundational rate plan and then explore a range of proactive and reactive portfolio solutions.

 

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Base rate plans offer you a strong pricing foundation

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pricing foundations

Offering more than one type of rate allows guests to consider multiple pricing options, making them more likely to book now  –  and giving them less reason to consider other properties.  

 

How you set your rates is always your choice, but we recommend offering at least these two types of foundational base rate plans: Fully Flexible and Non-Refundable. These are the most frequently booked rate plans and partners who offer both of these rate types see, on average, a higher share of bookings.

 

 

Base rate plans help you attract a wide variety of travellers

To maximise occupancy, we recommend using a combination of our two base rate plans:

 

Fully flexible

Offers the most flexibility for travellers whose plans may change, with free cancellation at least 6 days before check-in. This is generally the most expensive rate plan on our platform – it’s also the most booked.

Non-Refundable

This rate plan generally offers lower rates than Fully Flexible ones but can help you secure more guaranteed bookings and revenue. It’s a popular choice for bookings made less than one week in advance.

Add maximum flexibility to your Rate Plans

 

We know from research that the majority of travellers who book with free cancellation say it was the main reason they chose the property they did. To help you make the most of this demand for flexibility, we’ve created the Flexible - 1 day policy, which allows your guests to cancel up to one day before check-in. 

 

In addition to the benefit that guests are often willing to pay extra for the freedom to cancel free of charge, using Flexible - 1 day policies also helps make your property more visible on our platform. Our data shows that partners who implemented it increased their visibility by up to 23%.

 

 

View rate plans 

 

 

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pricing foundations

Explore the full Pricing Toolkit

 

Setting up rate plans is the first step in putting a winning pricing strategy in motion. Once you have your optimal rate plans set up, explore our portfolio of solutions that are designed to help you maximise your occupancy.

 

Pricing Toolkit

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