rack rate

  

Definition

Terms used in the hotel industry to describe the cost to a customers that request accommodations for the same day without prior booking arrangements . The rack rate price tends to be more expensive than the rate that the customer could have received if he/she used a travel agency or third-party service. Rack rates can vary based on the day that the room is requested. For instance, the rack rate may be more expensive on weekends, which are usually high travel days.

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