What effect do cancellation policies have on customer bookings?
An example of an AI chatbot conversation about the impact of cancellation policies on bookings.
What effect do cancellation policies have on customer bookings?
Cancellation policies can significantly influence customer behavior. Strict policies may deter bookings, while flexible ones can encourage them.
Can you give me examples of strict vs. flexible cancellation policies?
Sure! A strict policy might require a non-refundable deposit, while a flexible policy could allow free cancellations up to 24 hours before check-in.
How do these policies affect customer satisfaction?
Flexible cancellation policies generally lead to higher customer satisfaction, as they provide peace of mind and reduce the risk of losing money.
Are there any statistics on this?
Yes, studies show that properties with flexible cancellation policies see up to 30% more bookings compared to those with strict policies.
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