Prepayment Rewards Curb Last-Minute Cancellations

    Many hotel companies, such as Hilton Worldwide and Marriott International, have been testing the waters on stricter cancellation policies to discourage last-minute booking changes. However, hoteliers have found that a more impactful strategy is to offer discounts for purchasing early, nonrefundable bookings. The prepay method is being used by Marriott, Hilton, and InterContinental Hotels Group with seemingly higher levels of success than cancellation fees. But perhaps that makes sense, as guests typically respond more to reward than punishment. To read more on this new method, click here.

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