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A last room available (LRA) agreement is one in which a hotel guarantees a certain rate as long as a room is available. As hotel revenue management systems have become increasingly sophisticated, the pricing engines have become increasingly complex, complete with multiple room types, similar to how the airlines price seats. LRA agreements generally cover any room type, with reasonable exceptions (no suites, penthouses, etc.), but with the complexity of a dozen room types comes the increased likelihood that an otherwise eligible traveler will be denied his discounted rate because a specific type (e.g., "Standard Room") is sold out.
An LRA audit ensures that the hotel is providing the proper rate under such an agreement.
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