In our ongoing effort to enhance the hosting experience on our platform, we are excited to introduce a new, customizable cancellation policy. This change is a direct response to the evolving needs of both our hosts and guests, and it reflects our commitment to creating a fair, flexible, and user-friendly environment.
The Dynamics of Event Planning:
Event planning, by nature, is fluid. Whether it’s a corporate workshop, a yoga class, or a family event, changes in attendance and schedules are common. Recognising this, we’ve developed a cancellation policy that adapts to these realities, reducing stress and administrative burdens.
Setting the timeframes and customizing your refunds
Less than 24 hours: This timeframe is about protecting the host’s immediate investments and efforts and hence we do not allow any refunds from this timing before your booking starts.
7 Days: A week’s notice strikes a balance, giving hosts enough time to make adjustments but makes it hard for hosts to find someone to take on the space, leading to a huge opportunity cost.
30 Days: This period is about respecting the host’s longer-term planning while offering guests reasonable leeway to change their plans.
60 Days: There should be an ample time for hosts to find alternatives for to utilize the space and the only effort is in administrative effort in releasing the bookings and undoing plans.
Your Control and Customization:
As a host, you have complete control over setting the refund percentages at these intervals. This customization allows you to align with your specific business model and the nature of your events.
Tailoring to Different Scenarios:
Example: Art Workshops
Imagine you’re hosting an art workshop. Your preparation involves arranging materials, setting up the space, and possibly hiring assistants to manage the booking. A cancellation within 24 hours could leave you with unused materials and unnecessary costs. Hence, a 0% refund policy for last-minute cancellations protects you. Conversely, if a guest cancels a week in advance, you have more time to adjust. Perhaps you could offer a 50% refund, balancing your preparation efforts with the guest’s need for flexibility.
Example: Yoga Retreats
Consider a weekend yoga retreat. Significant planning and financial commitments are required in advance. A cancellation 30 days prior might be manageable, allowing you to offer a partial or full refund, while a later cancellation might result in a smaller refund due to the preparations and bookings made.
Example: Birthday Parties
Imagine you’re a venue hosting a birthday party, booked 3 weeks in advance. You’ve likely turned down other inquiries to reserve this slot. If the customer cancels, a 50% refund policy is fair. It acknowledges that you’ve lost potential bookings, but also considers that you save on manpower and resources that would have been utilized for the event. This policy strikes a balance, compensating for lost opportunity while not unduly penalizing the customer for unforeseen changes.
Why Refund in Credits?
Issuing refunds in GetSpaces credits is a strategy that benefits both hosts and guests. It encourages guests to rebook, thus ensuring hosts retain business and guests have the opportunity to attend an event at a later date.Implementing this policy might raise questions, and we are here to assist you every step of the way. Our goal is to foster an ecosystem where hosts and guests can plan and participate in events with peace of mind.
Setting Up Your Policy:
Please visit your manage listings page at your host dashboard to customize your cancellation policy. We encourage you to consider both your business needs and your guests’ convenience as you set your policies.
We thank you for your continued partnership and trust in GetSpaces. This new feature is a testament to our dedication to evolving in ways that support your success and enhance the overall experience on our platform.
Keep on Spacing
GetSpaces Team
