Best available rate
From Wikipedia, the free encyclopedia
Best Available Rate (BAR), or otherwise known as Best Rate Guarantee, is one of the latest pricing mechanism, increasing used by hotels and hotel chains around the world. It was introduced as a result of the hotel industry mimicking the airline industry, which sets price by forecasting demand. There are several interpretations and executions of BAR throughout the hotel industry. Galileo, a Global Distribution System provider defines BAR as "a rate available to the general public that does not require pre-payment and does not impose cancellation or change penalties and/or fees, other than those imposed as a result of a hotel property's normal cancellation policy." However, some hotels include "fenced" rates as part of their BAR strategies.
