How do cancellation policies affect booking rates?
An example of an AI chatbot conversation about cancellation policies and their effect on bookings.
How do cancellation policies affect booking rates?
Cancellation policies can significantly influence booking rates. Stricter policies may deter potential guests, while flexible ones can encourage more bookings.
Can you give me examples of flexible vs. strict cancellation policies?
Sure! A flexible policy might allow free cancellations up to 24 hours before check-in, while a strict policy may require a non-refundable deposit.
What impact do these policies have on customer satisfaction?
Flexible policies generally lead to higher customer satisfaction, as guests feel more secure in their plans. Strict policies can lead to frustration if plans change.
Are there any statistics on booking rates with different policies?
Yes, studies show that properties with flexible cancellation policies can see up to a 30% increase in bookings compared to those with strict policies.
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