Merchant Refund Policies: Keeping Travel And Entertainment On Track
Report: Hassle-Free Cancellation, Refund Options Put Pandemic-Weary Travelers At Ease
57% of U.S. consumers are highly likely to book hotel rooms within the next year, but pandemic-related travel uncertainty is still weighing heavily on their minds. PYMNTS’ Merchant Refund Policies report, a Fortis collaboration, surveyed more than 2,100 consumers and discovered why value features such as hassle-free cancellations and clear refund policies went a long way toward building travelers’ confidence to book trips.
Inside the December Report
- 76%: Portion of consumers who “agree” or “strongly agree” they are unlikely to return to a hotel, attraction or venue that denied their request for a refund
- 55%: Share of consumers who sought refunds for canceled hotel bookings and were paid in a week or less
- 35%: Share of consumers who increased their usage of hotels from 2019 levels