Offering multiple rate plans is one of the best ways to attract more guests, maximise your reach and increase profit on Booking.com.
The two most popular rate plans on Booking.com are Fully Flexible and Non-Refundable. These plans allow guests to choose the best booking options and prices according to their needs.
In this post, we’ll explain these rate plans and how you can use them to boost your revenue.
What is a rate plan?
A rate plan modifies your base rate according to various factors, such as:
- Length of stay — how many nights guests book.
- Booking window — how far in advance guests make a booking.
- Terms of cancellation — Whether you allow full or partial refund, and under what conditions.
Booking.com offers various rate plans you can apply to your properties. The most common are Fully Flexible and Non-Refundable.
Here’s what you need to know about these Booking.com rate plans.
Fully Flexible
Fully Flexible means that guests who book your property can cancel, free of charge, at least 7 days before their check-in date.
With this rate plan, you can keep your rates high in exchange for offering free cancellation. In fact, this is the most expensive rate plan and, according to Booking.com, the most frequently booked.
Guests often choose this plan when they book further in advance and want the freedom to cancel.
Non-Refundable Rates
Non-Refundable rates allow guests to book at a discounted price in exchange for losing their right to cancel.
Guests who book on this plan must pay for their stay. By using this rate, you’ll benefit from guaranteed revenue in exchange for offering a reduced rate.
This rate plan is ideal for last-minute booking on booking.com made one week or less before check-in, which allow you to fill gaps in your calendar.
Why do these rate plans work together?
Booking.com says Fully Flexible and Non-Refundable are the two most-booked rats on the platform. You can apply these rate plans simultaneously because they compliment each other perfectly.
When guests view your property, they can choose the plan that suits them best, and decide whether they want the cheaper, non-refundable rate or a higher price with free cancellation.
In some cases, they may only have one option. You can make the Fully Flexible rate unavailable for guests looking to book within 7 days.
Increase your exposure and bookings with rate plans
Guests will choose the rate plan that best suits their needs for each trip, and using rate plans will help you rank better on Booking.com and make your property more attractive to potential guests.
All property managers using Booking.com should consider applying the Fully Flexible and Non-Refundable rate plans to maximise bookings.
You can also experiment with other plans offered by the channel, including:
- Long-staying guests — Use Weekly and Monthly Rate Plans to increase visibility to travellers searching for longer stays of 7 days or more.
- Early birds — The Early Booker rate plan will help attract travellers who book in advance, and can help you secure revenue in advance and reduce cancellations.
- Families with children — Encourage family groups by offering discounted rates for groups with children. This plan can increase family bookings by 15% on average, according to Booking.com.
- Groups and single travellers — Pricing per guest means you offer tailored rates according to the number of guests staying in your property.
Optimise your listings with Rentals United
Want to maximise your bookings across all channels?
With Rentals United, you can improve your listings and increase conversions and revenue across the board.
