How to convert rate plan policies to Flexible – 1 Day
The coronavirus (COVID-19) is changing the way people travel. Travelers want the option to adapt travel plans if a change in circumstances affects them. Increasing the flexibility of your cancellation policies will make your property more attractive to these travelers, and will give your property a better chance of being booked. With this in mind, we built a new tool to help you easily update your rate plan policies and secure more bookings in times of low demand and high uncertainty.
In one step, you can convert multiple free cancellation policies for your existing rate plans to “Flexible – 1 Day”. This will allow guests to cancel for free up to one day before the arrival date. If they cancel within one day before the arrival date, the guest will be charged the cost of the first night.
For example, if you already offer a rate plan with free cancellation seven days in advance, you can use “Flexible – 1 Day” to extend the cancellation period up to the day before check-in. This will attract more travelers since you’ll appear in the search results for people looking for more flexible policies. Your rate plans that don't offer a free cancellation policy (e.g. non-refundable bookings) will remain as they are, which will help you attract a diverse range of travelers in the future.
How to convert existing plans
- Go to the Extranet.
- Click Rates & Availability at the top of the navigation bar.
- Select “Rate Plan Optimization.”
- Select which rates you’d like to convert to “Flexible – 1 Day” and click “Convert.”
- Within 30 minutes, your rates will be updated.
If you use a connectivity provider or channel manager, your updated rate plan will be synchronized there as well.
Which rate plans are eligible for conversion to “Flexible – 1 Day”?
- For all your existing rate plans with a free cancellation policy, you can use the tool to convert this policy to “Flexible – 1 Day.” This will allow guests to cancel for free up to one day before the arrival date. If they cancel within one day before the arrival date, the guest will be charged the cost of the first night.
- For your rate plans that don’t have a free cancellation policy, the policy will remain the same. This will help you meet a wide range of demand in the future.
- You decide which rate plans you want to convert to “Flexible – 1 Day,” and any changes made using this feature can be changed again manually.
We’re also exploring ways to boost the visibility of these “Flexible – 1 Day” rate plans on our website and in our app so more travelers will see your listing.
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