Top Hotel Booking Platform Sees 7x Uptick in Smart Refunds Adoption

Introduction

A top hotel booking platform partnered with Teak to launch Smart Refunds, a flexible protection solution that drives revenue and consumer confidence. Working together, Teak and the platform uncovered rising demand for refund flexibility among travelers facing life’s unexpected disruptions. By embedding Smart Refunds directly into the booking flow, the platform delivered a stronger value proposition and saw massive adoption and revenue growth.

Turning Refund Flexibility Into a Growth Lever

Teak’s Smart Refunds enable travelers to easily add protection at checkout and receive a full refund for a range of covered, real-life disruptions, including sudden illness and canceled flights. There are no loopholes or confusing fine print, just straightforward coverage that gives travelers the confidence to book.

With this embedded solution in place, the platform introduced a new revenue stream while helping guests book with confidence. Travelers welcomed the extra flexibility and willingly opted in, resulting in a boost in both satisfaction and profitability.

Teak’s Collaborative Approach

Teak collaborates closely with booking platforms to design and optimize Smart Refund programs tailored to their audience. This platform initially launched with Teak’s Friendly Insurance, then layered in Smart Refunds to unlock even greater value. The result? An 8X increase in revenue and over $10M in annual program gains.

We focus on joint problem-solving and continuous support to help our partners succeed in a competitive market. The chart below illustrates the potential revenue increases, highlighting the effectiveness of our solutions in driving these results.

Conclusion

By teaming up with Teak, hotel booking platforms can stand out in a competitive space while delivering more flexible, guest-friendly protection. Smart Refunds are fast to launch, easy to integrate, and proven to boost both consumer satisfaction and bottom-line revenue.

If you’re a hotel chain, boutique property, resort, vacation rental, online travel agency (OTA), central reservation system (CRS), or any other hospitality business, now’s the time to see what’s possible with Teak. Don’t miss the chance to increase revenue, and deliver better guest experiences. Get in touch with us today!

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Results (Increase Over Friendly Insurance):

• 7x consumer adoption
• 8x revenue increase

_{Disclaimer: These results are not a guarantee that other companies will receive the same increases but are only a summary of the results experienced by one corporate customer. This is provided for informational purposes only and will not supersede the final agreement between the parties.}

Annual Booking Platform Stats

• $370M in experiences protected
• 5.6M unique consumers reached
• $2.1M refunds paid
• 100% client retention rate