Last Room Availability Definition

Usually used for group business.

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. Meaning is 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. 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.

Nlra is the opposite of this. Lra is short for last room availability at the contracted rate 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. The definition of last room availability.

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. An agent can book the last room a hotel has available by right. What it means to your business. Last room availability is a contracted rate.

Last room availability lra. 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. To find the abbreviation acronym or term you re looking for use the search box below or click on any letter above. A combination of negotiated and group rates that allow agents to book a hotel s last available room at a contracted rate.

What is the meaning definition of last room availability in the hospitality industry. So what is the definition of last room availability. Electronic hotel room reservation system that provides the latest information on accommodation availability. Usually if a company insists on the rate being lra then the rate the hotel gives them will be higher.

Last room availability lra.