guest booked my room and admitted she might cancel if she could find something more suitable.

[Sandra126]

Depending on your cancellation policy that is how you would be paid out, should she cancel. This is a risk you will always run, but not every guest will be upfront about it.

[Tim-and-Holly0]

Sandra is right. Part of any reservation is risk that a guest will cancel. Check your cancellation policy. I started out with a flexible policy while I was new, but have since changed to moderate. Maybe one day I will even move to strict, but I would recommend anyone at least use the moderate policy that way guests that change simply because they want to will take a little bite, especially if they wait too late for me to get another reservation. A good cancellation policy will keep some people from moving to someone else.