Today's Revenue Management thought:-

Playing the winning hand….. The house always wins !

Hotel cancellation policies not only contribute in generating revenues but also affect consumers’ reservation behaviours.

The increased popularity of last minute deals, and more so mobile applications that target customers seeking the last minute deal, entails the need for policies that reflect these booking patterns and won’t leave you hanging dry in the event of cancellation.

Optimal cancellation policies are a major tool to ensure proper market differentiation and effective price discrimination. 

Explore your options, 30 days, 1 week, 72 hours, 24 hours, same day 2 PM, non refundable, etc etc…. Tailor your policies to reflect your perception of consumer behaviour, whilst at the same time reducing potential losses.

Have a profitable week !

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