What term describes a negotiated hotel rate for groups such as conventions and meetings?

The term that describes a negotiated hotel rate for groups, such as conventions and meetings, is known as a group rate. This type of rate is typically offered to organizations booking a certain number of rooms for a specific event, which allows them to benefit from lower prices compared to standard rates. Group rates incentivize businesses and organizations to choose specific hotels for larger gatherings and events by offering financial advantages that can make planning and budgeting for accommodations more manageable.

In the context of hotel management, securing a group rate is essential for maximizing occupancy during peak times and ensuring that events run smoothly by accommodating all attendees under one reservation framework. This approach not only helps the hotel in managing its inventory more effectively but also enhances the overall experience for guests who may be attending the same event.