- May 22, 2010
- Reaction score
Good article HERE by Vikram Singh, a hospitality industry advisor I heard speak at the PAII (Professional Association of Innkeepers International) conference in Nashville several years ago. He knows the industry very well. Here's a section of the article...
Goodbye, Non-Refundable Rates
You read that right. I think it is time to say goodbye to this incredibly tempting rate type, which the industry embraced during the good times. As a guest, nothing is more annoying than realizing after a change of plans (for a variety of valid reasons) that you booked a great deal at a hotel you are not going to visit anymore. Airlines are the kings of non-refundable fares; like everything else in revenue management that trickles down from airlines to hotels, we embraced it and made it a part of our industry. (Check out the horrible press that Airbnb received for their complicated and confusing refund policies.)
It is time for both independent and brand hotels to step away from this rate type and let people book with confidence. Taking people hostage with terms and conditions seems out of place in the world we are about to inherit.