What is the meaning / definition of Private Rate in the hospitality industry?

A type of discount rate that is negotiated with a travel agency and vendors and then sold to the public. The rate is discounted to allow the vendors and to generate a profit from the selling of a room.

These discount rates allow to fill rooms which they cannot sell. This allows them to recuperate some cost that they would have lost if they had not sold the room. travel agencies in the past have been known to offer less than the ’s selling price due to this tactic. An example of such platforms is Kayak.

See also:

  • Promo Codes

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