Flexible seasonal cancellation policies?


  • Advisor

    Hello all,

    I hope everyone is staying healthy and hanging in there.

    We are trying our best, alas with half our places in a country Americans cannot travel to, it is a challenge. That said, we still have Chicago 🙂 A few months ago I tried to recover the lost year by going from our no refunds on any bookings policy (which worked for us for a very, very long time) to a moderate policy which offers 100% refunds up to 30 days and 50% up to 14 days. I have gotten a few bookings this way, most all were within or close to the 14 days prior to arrival.

    I figured that would be how most bookings come in during the next few months - but now I have some New Years inquiries and I just got a booking for Memorial Day weekend. I am concerned about the Memorial Day weekend booking cancelling 30 days prior because in normal times I would not have been able to rebook. This got me thinking about the option to have seasonal cancellation terms and I asked my VRBO support person and she said they are working on this feature and this:

    1 – whichever future holiday you are most concerned about right now, make a note to yourself to change the policy about 2 months before that date occurs. So, as an example, if July 4 2020 is the holiday you are concerned with, then in mid April I would change the policy.

    2 - contact your software and ask your contact if they have a project in queue to build out the flexible cancellation policy option. VRBO is working on this as a new rollout but it will be useless to partners if their software company doesn’t offer the variable model.

    Has anyone gone back and forth with changing cancellation policies? Is it a hassle to manage?

    And for the MyVR folks, re: #2 - do you have this in your queue?

    Thanks

    Carole


  • Advisor

    @Tristan-Brotherton @Kevin-Poglitsch or anyone else on the MyVR team - I’m circling back to see if you have anything in the queue related to flexibility with seasonal cancellation policies.


  • MyVR Employee

    Hi Carole,

    Thank you for sharing these ideas and suggestions! When HomeAway releases their new flexible cancellation policies, MyVR can work on a feature to integrate with these settings.


  • Explorer

    When we spoke with our AirBnb Account Manager last month, she told us they are seeing 80% of bookings occur 8 to 30 days in advance.

    We had noticed this as well in June.

    So, when someone who booked months ago cancels, we raise the rates before we process the cancellation. $770,000 in Cancellations this year, but we’re still likely to hit our revenue goal.


Log in to reply
 

About the MyVR Community

Looks like your connection to MyVR Community was lost, please wait while we try to reconnect.