To get started, compare your performance with that of your competitive set and overall market. If your cancellation rate is higher than youʼd like it to be, there are two key steps you can take to understand whatʼs causing your cancellations:
Step 1: See which book window has more cancellations or no-shows
The first graph, "Reservation Status per Book Window," shows you when most of your cancellations happen in relation to the check-in date.
Try to identify a particular book window where your cancellations are high compared to your stayed reservations. Then, check how that differs from that of your market, competitive set, or peer group.
Typically, itʼs reservations made in longer book windows on a flexible policy that are more likely to result in cancellations.
Step 2: Check when most cancellations are happening
Using the third graph, "Cancellations Prior to Check-in," try to identify a particular time period before check-in when most cancellations occur.
This data can help inform your decisions around cancellation policies.
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