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.