Room rates are the various rates used by Lodging properties to price rooms. These include: Day Rate (usually one half the regular rate for a Room used by a guest during the day up
to 17:00 (5 p.m.) sometimes called a use rate), flat rate (a specific room rate for a group agreed upon by the hotel and group in advance), group rate (same as flat rate), net group rate ( a wholesale rate for group business to which an operator may add a markup if desired), net wholesale rate ( a rate usually lower than the group rate and applicable to groups or individuals when a hotel is specifically mentioned in a tour folder), and published rate ( a full rate available to or advertised to the public-also called the rack rate.)