Today's travelers prioritize flexibility above everything else. According to a survey by Expedia Group, over 33% of respondents look for refundable cancellation policies while booking accommodations on travel websites. If you offer a refundable rate, you can avoid being excluded from many hotel searches by potential customers.
Hoteliers can expand their reach to millions of unique visitors monthly by utilizing booking platforms as part of their channel mix.
If your property provides a flexible booking policy, your property will be displayed as "Free Cancellation" in travelers' search results. This will make your facility more noticeable and distinguish you from other competitors.
Offering a refund policy can boost travelers' confidence in booking with you and give them peace of mind if their plans change. According to recent survey data, the top priority for travelers when booking is the ability to cancel and get a full refund in such scenarios. Such terms help build trust in your brand and enhance customer loyalty. Experts suggest providing a 100% refund for cancellations two days or less before the stay date to allow travelers maximum flexibility.