Last Room Availability Definition

Last room availability lra.

Last room availability definition.

What is the meaning definition of last room availability in the hospitality industry. 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. What it means to your business. Some people may be surprised by this thinking that a hotel has complete control over room booking decisions at their premises at all times.

Usually if a company insists on the rate being lra then the rate the hotel gives them will be higher. Usually used for group business. 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. Electronic hotel room reservation system that provides the latest information on accommodation availability.

The definition of last room availability. To find the abbreviation acronym or term you re looking for use the search box below or click on any letter above. Term for a potential booking that has shown interest but has not yet booked. A feature of a gds allowing up to the minute information on the number of rooms available at a hotel.

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. Last room availability lra. An agent can book the last room a hotel has available by right.

A combination of negotiated and group rates that allow agents to book a hotel s last available room at a contracted rate. 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 is a contracted rate. So what is the definition of last room availability.

Lra is short for last room availability at the contracted rate an agent can book the last room a hotel has available by right.