What is the definition of Last Room Availability (LRA) in the hotel industry?
LRA is short for Last Room Availability. At the constricted rate, an agent can reserve the last room a hotel has on hand, by right. Some citizens may be astonished by this, thinking that a hotel has complete control over room booking decisions at their premises, at all times. But, because of LRA, this is not necessarily always the case!
Even if a hotel only has one single room accessible, a room-seeking party with a agreement has a right to buy it; it can’t just be left empty.
The room must be sold in accord with the interested party’s agreement terms and prices.
LRA is in fact something that travel organization consortia and corporations often demand, and so it is significant for all hotels to think creating LRA part of their offerings.