Last Room Availability Definition

Last room availability lra.

Last room availability definition.

Last room availability means that the hotel will not close out the availability of that particular room rate deal until all the rooms in the hotel have been sold. Last room availability lra. Last room availability is a contracted rate. Usually if a company insists on the rate being lra then the rate the hotel gives them will be higher.

Within a corporate travel programme last room availability or lra means that as long as a hotel has a room for sale even one room then parties with an lra contract have a right to buy it at their contracted terms and prices. What is the meaning definition of last room availability in the hospitality industry. Back in the old days the last room availability lra was mainly associated with hotel revenue management however it is becoming an important factor in the negotiations between online travel agents ota and the hotel establishments. Nlra is the opposite of this.

To find the abbreviation acronym or term you re looking for use the search box below or click on any letter above. Lra is short for last room availability at the contracted rate an agent can book the last room a hotel has available by right. Electronic hotel room reservation system that provides the latest information on accommodation availability. A combination of negotiated and group rates that allow agents to book a hotel s last available room at a contracted rate.

First of all the lra meaning is a short term for last room availability. Some people may be surprised by this thinking that a hotel has complete control over room booking decisions at their premises at all times. Last room availability rates the difierence between perceived and actual value last room availability rates when companies have negotiated last room availability lra rates which are often higher than non last room availability nlra rates they have the right to buy a room at their contracted terms and prices even if the hotel only has one room. Usually used for group business.

An agent can book the last room a hotel has available by right. A feature of a gds allowing up to the minute information on the number of rooms available at a hotel. Term for a potential booking that has shown interest but has not yet booked. So what is the definition of last room availability.

What it means to your business.