Cancellation risk is a tool that gives each property a per-booking cancellation risk score. Rather than looking at one dimension of data for example segmentation, this fine-tuned approach leverages Artificial Intelligence to take a multidimensional view, incorporating data based on the individual guest journey, market conditions at time of booking, what has changed since the booking, and more.
In order to view cancellation risk, please log onto avvio.com. Select insights on the top navigation menu.
Scrolling down the sub navigation menu on the left hand side, you will see the header cancellations and under this dashboard.
Selecting dashboard will open up this view.
You will see there are a number of widgets in the dashboard. For the purpose of this article navigate to cancellation risk.
Within this widget you will see this icon
Select this icon and you will be directed to a new screen, called cancellation watch list.
Here you will be able to view upcoming reservations. These bookings have been identified as ‘at risk bookings’ by the Avvio AI technology.
The bookings are divided by high and medium risk. The grey colour identifying medium risk and purple identifying high risk. Within the cancellation watch list you can see other headers such as created (date of booking), reference (the unique code to identify the booking), the rate and room, check in/checkout date, bookers name, email and total (the total value of the booking).
By identifying the medium and high risk bookings a property can build a booking retention strategy to retain these bookings.
To identify the number of at risk bookings on a particular date scroll to the right to view the calendar.
To export this data click this icon