Travelnest news
Everything you need to know about the non-refundable rate on Booking.com
11 Mar 2024
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By Pamela Sousa
Managing vacation rentals as a property owner can be challenging due to unpredictable booking cancellations. Fortunately, Booking.com provides a non-refundable rate option that can help you reduce cancellations from guests. If you list your vacation rental with Travelnest, you'll have access to this option in your account (at present, this option is only available for the Booking.com channel). When you offer a non-refundable rate, guests will need to pay upfront and cannot cancel their reservation without losing their payment. This provides a reliable source of income for hosts and reduces the risk of cancellations. By listing your vacation rental with Travelnest, you can easily offer this option to your Booking.com guests.
Understanding how non-refundable rate work with your Travelnest account
As a customer of Travelnest, you have the option to choose from various cancellation preferences for your listings after you publish them on our platform. However, for properties listed for the first time, we recommend choosing the Non-refundable option to attract more bookings, as guests often filter for properties with this option. If you opt-in for the non-refundable option for your listing, guests can book your property at a 10% discounted rate.
In case you need to change your cancellation preference, you can do so anytime on your Travelnest account.
Your benefits as a Host
Lower cancellation rates
Dealing with cancellations can be an extremely stressful and challenging experience for property owners. When guests cancel, it's not just the loss of income that is concerning, but also the missed opportunity of receiving other potential bookings.
However, by choosing non-refundable rate, you can significantly reduce guest cancellations. Under this policy, guests receive a 10% discount if they opt for the non-refundable option, encouraging them to commit to their stay and reducing the likelihood of cancellations.
Increase in bookings
According to our data, offering a non-refundable rate option could result in a 51% increase in bookings. This means more traffic to your listing and more opportunities for revenue.
Guaranteed income
Opting for non-refundable rate means your earnings are protected, even in the event of a cancellation. This adds a layer of financial security, allowing you to better plan for the future.
Wrapping up
The non-refundable rate option presents an excellent opportunity for Travelnest customers to increase bookings, reduce cancellations, and secure guaranteed income. This option is now available for the Booking.com channel in your Travelnest account. Additionally, the non-refundable rate option will soon be available for other channels, allowing you to start benefiting from it right away.
