glossary: L

Low season is the time of year when a place receives the fewest visitors, and fares and holiday accommodation are often cheaper.” Low season is characterized by the consecutive months during which lowest room/suite occupancy, revenues and average room rates are generated due to low occupancy rates and lower prices for hotel rooms. Revenue management … Continued

Lose-it-Rate is the minimum price below which a group booking should no longer be accepted for certain rooms and dates, where sometimes it is an unprofitable rate at which the hotel would be better off leaving a room unsold than selling at this rate.