Term
Explanation
Travel Management Company (TMC)
A travel agent that fully manages the business travel requirements delegated by enterprises, such as air tickets, hotels, car rentals, visas, etc. The clients served are mostly employees of corporate clients.
Corporate Rate/
Negotiated Rate

The price agreed between the corporate and the hotel supplier, which is exclusive to the corporate and available in a certain period (generally in years), is referred to as the corporate/negotiated rate. The corporate/negotiated rate is usually lower than the retail price or market price, with the forms of fixed corporate rate, dynamic corporate rate, and so on. 

Prices or discounts are usually based on the average annual usage of corporates through the bidding between the two sides to determine. Dynamic corporate rate mostly applies to the chain, which will provide rate plan within certain regions and brands in accordance with the rate plan to corporate. Such rate plan are usually booked via contacting the hotel directly, visiting the hotel offical website, or contacting the TMC, etc.

According to the size of business travelling, corporate/negotiated rates can also be divided into different forms, such as Key Account Negotiated Rate (KNR), Global Account Negotiated Rate (GNR), Local Negotiated Rate (LNR), and short-term Verbal Negotitated Rate, etc.

As long as a company's corporate/negotiated rate is maintained, the hotel will be an agreed hotel for that company.

LRA (Last Room Availability) 

It indicates that the hotel will sell availability to the company at the negotation rate, regardless of how many are left.
NLRA (Non-Last Room Availability)The hotel, according to the sale situation of the room type, can stop selling by the rate plan or charge a higher rate regardless of the corporate/negotiated rate.
GOV/MIL (Government/Military)The rate for government and military customers.
Rate Plan Code
The rate plan code, which is usually rate access code (RAC) or a string containing rate access codes, is used to identify the price plan type or product type.
Central Reservation System (CRS)

A reservation system is used to maintain hotel information, rates, inventory status, process and manage reservations for one or multiple hotels.

Room Nights

The number of rooms booked or occupied is multiplied by the corresponding number of days.