Pricing Foundations

Pricing that caters to changing travel needs

 

We’ve always known travelers 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 travelers 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 travelers’ 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: Rate Plans you set initially to appeal to the widest possible range of travelers.
  • 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 fulfill your pricing strategy. Our role is to support your choice, making sure travelers always get a great price and a great booking experience. Start with a foundational rate plan and then explore a range of proactive and reactive portfolio solutions.

 

Add Rate Plans Explore Portfolio Solutions

Essential Rate Plans for a strong pricing foundation

Image
pricing foundations

 

Our data shows that you’ll achieve the best results for occupancy when combining threeRate Plans: Fully flexible, non-refundable, and early booker.

 

On average, partners who activate all three see a 5% increase in bookings, an 11% increase in visibility, and a 9% reduction in cancellations.

 

How you set your rates is always your choice, but we recommend offering at least two of these three Rate Plans.

 

Choose Rate Plans that attract the widest variety of travelers

To maximize occupancy, we recommend using a combination of the three Rate Plans we offer:

 

Fully flexible

Offers the most flexibility for travelers whose plans may change. This is generally the most expensive Rate Plan on our platform – it’s also the most booked.

Non-refundable

Popular with price-sensitive travelers, this Rate Plan generally offers lower rates than fully flexible ones but can help you secure more guaranteed bookings and revenue.

Early booker

Appeals to travelers who plan ahead, offering them great value. This Rate Plan helps you secure revenue far in advance.

Add maximum flexibility to your Rate Plans

 

73% of travelers who booked in April 2020 said free cancellation was the main reason they chose the property they did.

 

To help you make the most of the demand for flexibility, we’ve created the Flexible – 1 day policy. It allows you to quickly extend all your free cancellation periods so your guests can cancel up to one day before check-in.

 

Using Flexible – 1 day 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%.

 

Convert your rates Learn more

 

 

Image
pricing foundations

Explore the full Pricing Toolkit

 

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

 

Pricing Toolkit

What do you think of this page?