Staylists is pioneering a UK first, no-restrictions room cancellation policy with Lloyd’s of London, designed to instil confidence in the hotel booking process and reduce high cart abandonment rates.
When booking a room, guests will purchase a policy that allows cancellation for any reason up to 24 hours before their stay – with the promise of 75% of their booking cost refunded.
As a result, hoteliers will see increased conversion with no financial loss, and in turn offer consumers an average saving of 30%.
David Graham, Head of Commercials at Staylists, said: ‘We’re delighted to pave the way with the first no-restrictions room cancellation policy of its kind. It’s great to be working with Lloyd’s of London, and we look forward to rolling out the new initiative.’