Rate plans

Appeal to more guests with a variety of rate plans

When guests are looking to book a stay, price plays a big part in their decision making. The challenge is knowing how much. After all, some guests prefer to book early and get the lowest price, others will pay a bit more to keep their plans flexible.

So how can you cater to guests’ different motivations and behaviors, and still get the results you want? Offer a mix of rate plans. That way, you can attract a wider variety of guests, reduce cancellations, and increase revenue – securing more in advance, too.

Note: Depending on your property type, you may not be able to offer multiple rate plans. If you aren’t eligible, you’ll either get an error message or you won’t be able to add or edit new rate plans.

What is a rate plan?

A "rate plan" is an industry term for the combination of factors that make up each booking. These include:

a

Cancellation policy

State whether you’ll refund canceling guests – if so, at which point that refund becomes unavailable.

d

Price

Import your prices from an existing rate plan or configure new ones.

Group of people

Days before check-in

Show specific rates to guests who book a certain number of days before check-in.

Messaging tools

Length of stay

Offer special rates to guests who stay longer than a certain number of nights.

meal

Meals

Create rate plans that include certain meals.

rooms

Rooms

Make rate plans for certain room types or all your rooms.

How does your business benefit from offering a mix of rate plans?

Free cancellation rate plan

Guests love these rates for the flexibility they offer. Free cancellation rates are generally the most expensive – and the most booked – rates on our site. Because of their flexible conditions, they naturally have higher cancellations.

 

To get the most out of your free-cancellation rate plan, it’s good to offer it year round without any restrictions on the length of stay or booking period.

Non-refundable rate plan

Non-refundable rates are generally cheaper than free-cancellation rates. However, you can get back the price difference by securing more guaranteed bookings and higher overall revenue.

 

Our data shows that adding a non-refundable rate plan to your property can help reduce cancellations by at least 9% – and increase overall bookings by 5%.

Early-booker rate plan

Usually the cheapest rate plan, early-booker rates make your property more attractive to guests who book far ahead of their check-in date.

 

 

Early-booker rates help you stand out from your competitive set, secure more revenue in advance, and reduce your cancellations.

How do I set up different rate plans?

You can set up rate plans on the Extranet. Go to the "Rates & Availability" tab and click "Rate plans."​​​​​

Review your existing rate plans. Are you offering free-cancellation, non-refundable, and early booker rate plans
Choose between adding new rate plans or editing your existing rate plans.
If you have multiple room types, you’ll give potential guests more choices by offering all of your rates on all of your room types.
Rate plans are usually created on a long-term basis, and they can be seen by all potential bookers. 
Depending on your property type, you may not be able to offer multiple rate plans. If you aren’t eligible, you’ll either get an error message or you won’t be able to add or edit new rate plans.