If you're looking to reduce cancellations and secure guaranteed income, adding a basic non-refundable rate is an easy way to do it.
A basic non-refundable rate is the lowest price you can offer on a double-occupancy room – just the room without extras. You can charge the guest at the time of booking, taking full payment.
It’s a straightforward way to attract more potential guests looking for an affordable deal. Guests looking for extras will still be able to see your higher rates. We know that properties offering basic non-refundable rates tend to attract 14% more bookings, and the sales of more expensive rooms still make up 69% of their bookings.
If your property’s settings let you add multiple rates, follow the instructions below to create a basic non-refundable rate:
- Log on to your Extranet and go to the Rates & Availability tab.
- Click on Basic Non-refundable Rates.
- Your cheapest or most popular double-occupancy room will be preselected.
- Set the basic non-refundable rate by offering at least 10% off the standard rate.
- Click Set rate to activate the new rate on your page.