Rate Plans

Appeal to more travellers with a variety of Rate Plans

What makes travellers choose to book with you? Convenience and choice are important, but our research shows that flexibility and a great price matter most – now more than ever. And while some travellers plan ahead to save money, some book last-minute and others will pay more for added flexibility in case their plans change.

Setting up your Rate Plans is the first step towards a strong pricing foundation that caters to these different needs. Offering a mix of Rate Plans can help you attract a wide variety of travellers and make the most of demand.

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rate plans

Using Rate Plans to drive growth

 

Our data shows that, on average, partners combining three Rate Plans achieve:

  • A 5% increase in bookings
  • An 11% increase in visibility
  • A 9% reduction in cancellations

What’s a Rate Plan?

 

A Rate Plan is a combination of a number of fundamental elements of a booking. When you set one up, you’ll consider these factors that impact the chance of bookings and cancellations:

  • Price: The rate you’ll charge for each of your rooms or units
  • Rooms: The room or unit types included in a particular rate
  • Validity: How long before the check-in date a particular rate is available
  • Length of stay: How long travellers need to stay for a rate to be valid
  • Cancellation: Whether travellers can cancel for a refund, and until when
  • Meals: Whether a rate includes certain meals
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rate plans

What makes an optimal Rate Plan setup?

We recommend you offer a mix of these Rate Plans so that you can attract a variety of travellers.

Free Cancellation

This is the Rate Plan that travellers on our platform book the most. It’s designed for travellers who are willing to pay more for extra flexibility and peace of mind in case their plans change.

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Non-Refundable

Great for travellers with fixed plans, these cheaper rates can help secure guaranteed revenue. Data shows partners offering this Rate Plan reduce cancellations by an average of at least 9%.

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Offering Free Cancellation?

Use Flexible - 1 day to quickly extend all your Free Cancellation periods to up to one day before check-in. Data shows that partners who implemented Flexible - 1 day increased their visibility by up to 23%.

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Early Booker

Early Booker rates can help you secure bookings from travellers who plan in advance. You can combine the Early Booker Rate Plan with a variety of cancellation terms or a Non-Refundable policy.

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Rate palans klein

How do I set up different Rate Plans?

 

To set up Rate Plans for your property, log in to the extranet, click on ‘Rates & Availability’ and then click on ‘Rate plans’. Here are a few things to keep in mind while you do it:

  • Our research shows any other opportunities you activate are less effective if you don’t already have at least two Rate Plans in place.
  • You can add new Rate Plans or edit your existing ones – or both. Any changes you make will be effective immediately.
  • Do you have multiple room types? Consider offering all your rates on all your room types to offer travellers the most choice.
  • You can convert any existing Rate Plans with a Free Cancellation policy into Flexible - 1 day, so travellers can cancel right up until one day before arrival.

You can learn more about setting up Rate Plans by taking a look at this article.

 

Add Rate Plans Flex your rates

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