How do I set cancellation policies for my business?

How do I set cancellation policies for my business?

Setting cancellation policies involves defining the terms under which customers can cancel their bookings. What type of business do you have?

I run a small bed and breakfast.

For a bed and breakfast, consider factors like the season, booking lead time, and your occupancy rates. Do you want a flexible or strict policy?

I think a flexible policy would be better.

A flexible policy might allow cancellations up to 24 hours before check-in. Would you like to include any fees for last-minute cancellations?

Yes, maybe a small fee for cancellations within 24 hours.

That sounds reasonable! You could specify a fee of 50% of the first night's stay for cancellations made within that timeframe.