Last-minute price
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What is a rack rate?
It is the standard rate or published tariff defined by the hotel management for a particular room category/type. This is what generally is shown on the tariff sheet of the hotel, on the website etc. These rates are always without any sorts of discounts, so they are kind of the maximum price is most situations. So they say, you could consider them 'the ideal rice' from the management perspective.
Of course the counterpart is the last-minute price. More on the pages prices and decisions.
More info online on sites like:
Traveltips or Why are these rates so high?.
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