Software
Software
Software
Service
Software
Hardware
Resellable rate
Revenue management
A resellable rate, in the hotel context, refers to a flexible rate option that allows a hotel to reuse or resell a reservation that has been canceled by a guest. This option offers the hotel the ability to recover part or all of the value of the canceled reservation by making it available to other interested guests. This can be done by returning the rate to the original guest under certain conditions or by placing it on a specific platform designed for the resale of canceled rates, which optimizes occupancy and maximizes hotel revenue through efficient room availability management.
Advantages
Occupancy Optimization: Allows the hotel to maximize occupancy by reselling rooms that have been canceled by original guests.
Flexibility for guests: Offer flexible options to guests who may need to modify or cancel their reservations without losing the full rate.
Increased revenue: Allows the hotel to generate additional revenue by reselling canceled rooms.
Loss Reduction: Minimize losses associated with cancellations by recovering some or all of the value of the canceled reservation.
Price Competitiveness: Facilitates dynamic price adjustments to stay competitive in the hotel market.
Improves demand management: Helps the hotel adjust room supply to fluctuating market demand.
Increased operational efficiency: Simplify reservation management by automating the process of reselling canceled rooms.
Financial Sustainability: Contributes to more stable financial management by recovering lost revenue due to cancellations.
Guest Experience: Improve the guest experience by offering flexible policies that align with their needs and circumstances.
Regulatory Compliance: Comply with hotel industry regulations and standards by offering clear and transparent options regarding cancellation and refund policies.
Features
Cancellation flexibility: A policy that allows you to cancel your reservation with a certain amount of notice without penalty.
Full or partial refund: Possibility of fully or partially refunding the amount paid by the original guest in case of cancellation.
Integration with management systems: Connection to the hotel management system to automatically update room availability.
Policy transparency: Clear and accessible information about the terms of the resellable rate for guests.
Resale platform: A system or platform that facilitates the resale of a cancelled room, either internally or through third parties.
Process Automation: Automate the cancellation and resale process to minimize manual intervention and avoid errors.
Push Notifications: Automatic notifications sent to both the hotel and the original guest about changes to the reservation.
Security and data protection: Compliance with data protection regulations to ensure the security of guest information.
Audit and Tracking: Capabilities to audit and track resellable rate-related transactions.
Adaptability and scalability: Ability to adapt to different room types and scale according to hotel needs and market demand.
