I think a better question would be to understand why people are cancelling after making a booking?

Are you catering to business travelers whose schedules may change? (no amount of cuddling will save all sales)

Are you catering to vacationers who might find better deals elsewhere? (appeal to their frugality with special non-flexible offers)

Take a page from the airline industry, perhaps simply offer different rates with different options. Cheaper rate is pre-paid and non-cancellable, higher rate has full flexibility.

Then you can more narrowly focus your efforts on cementing the 'flexible bookers' while you've already collected on the more frugal folks.

Cheers

Feel free to book a call if you'd like to chat.

David Barnett