The terms and conditions that dictate the refund amount a guest is entitled to if they cancel their booking. Policies range from flexible to strict and can impact booking rates.
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Glossary Term: Guest Flexibility
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Offering a balanced cancellation policy that provides flexibility for guests while protecting the host from last-minute cancellations and potential loss of income.
The terms and conditions that outline the rules and penalties for guests canceling their bookings, protecting both hosts and guests.
A booking policy that allows guests to cancel their reservation and receive a full or partial refund within a specified timeframe, providing greater flexibility and peace of mind for travelers.
The period before a guest’s scheduled arrival date during which they can cancel their reservation without incurring any financial penalties.
The specific conditions and policies outlined by hosts regarding cancellations, refunds, and penalties for guests who need to change or cancel their reservations.
Adjusting the terms and conditions under which guests can cancel their reservation, ranging from flexible to strict, impacting both guest booking behavior and host income stability.