Flexible Terms & Conditions Program
for Property Managers
WHAT IS MASTER CANCEL | ADVANTAGES TO PROPERTY MANAGERS
What is Master Cancel
- Program that enables property managers to offer flexible terms & conditions to their guests.
- Program reimburses the property manager for cancellations that occur two (2) days or more prior to check-in, but no greater than sixty (60) days prior to check-in.
- Example: For a Saturday check in date, Friday and Saturday would not be covered.
- However, Thursday cancellations back to the 60th day before check in date would be covered.
- Property Managers enhance guest satisfaction through flexible cancellation terms & conditions.
- Flexible terms & conditions result in more bookings, additional OTA discounts, and favorable OTA Placement in their online listing portals.
- Property Managers are reimbursed for lost booking revenue resulting from the guest-friendly cancellation terms & conditions.
- Property Managers protect the revenue earned from bookings for both their company and the owners they represent, not just the initial deposits.
How does Master Cancel benefit Property Managers?
By providing Master Cancel and its flexible cancellation terms & conditions to every guest, Property Managers:
- Enable guests to cancel for any reason from 60 days up to and including 2 days before check in date.
- Property Manager will then refund guest deposit or full payment, then claim 100% of the booking value (less a 10% deductible) if the dates don’t get re-booked.
- If the property re-books, the 10% deductible is waived.
- Motivates potential guests to book with You because of Your flexible cancellation terms & conditions.
- Program covers all booking sources, including OTA bookings that are confirmed.
- By participating in Master Cancel and adopting flexible cancellation terms & conditions, you qualify for commission discounts and favorable listing placement with OTAs.
How does Master Cancel Work?
- Property Managers enroll in Master Cancel and update their booking cancellation terms & conditions to provide flexible cancellation options to every guest.
- Guests may cancel for any reason from 60 days up to and including 2 days before check in date.
- The flexible cancellation terms & conditions must be included with every paid booking in your portfolio.
- Property Managers receive lost revenue from cancelled bookings in certain date ranges:
- Protects cancellations within date range from 60 days up to and including 2 days prior to check-in date.
- Does not protect 1 day before check in date or day of check in date cancellations.
- Example: For a check in on Saturday, Guests could cancel up to Thursday, but not Friday (1 day prior) or Saturday (day of check in).
How much does the program cost and who pays for it?
- The cost of the program is a fixed percentage (%) applied to all paid bookings.
- Cost is based on underwriter analysis of your specific historical cancellation data.
- Property Managers simply choose the fees they want to protect (lodging, admin/resort fee, taxes, etc.). Some Property Managers just protect the lodging, while others include much more.
- Flexibility on what can and cannot be included also depends on the software provider you use. Master Cancel % charge is calculated by multiplying the fee x the items you want to protect.
- Once the program is activated and a booking is made, the Master Cancel premium is paid and treated as an operating expense. If a guest has to cancel from 60 days up to and including 2 days prior to check in date, the property manager simply issues a refund to the guest and then files a claim to recover their protected amount.
- By implementing the Master Cancel program, Property Managers are protecting the revenue earned from unexpected events while delivering peace of mind so their guests can book with confidence.
Additional information or to get access to the Master Cancel Knowledge Base.
Master Cancel Knowledge Base
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