Today’s hotel guests are empowered and informed, which in some ways is very positive. However, it has also led to a trend of guests making multiple bookings far in advance, before cancelling ones they decide against just a day or two before their stay dates. High cancellation rates on OTAs or other channels can be a problem for your hotel if you don’t have a strategy ready to deal with them.
These high cancellation rates can lead to distorted demand levels for hotels, meaning non-optimal rates and lost revenue. Why does this happen, and what are a few quick tips for hotels looking to deal with the effects of these cancellation rates?
We’ve put together a quick guide to help you figure out the causes of higher cancellation rates, followed by some quick tips. Our goal is to help you figure out:
- Which channels cancellations are coming from
- What kind of cancellation rates you should expect
- How to plan for them and turn cancellations to your advantage
See full article at http://blog.netaffinity.com/6-tips-high-cancellation-rates-ota-bookings/