The document discusses hotel rate management and pricing strategies. It argues that hotels focus too much on occupancy rates, which drives prices down, rather than profitability. It notes that the hotel industry has conditioned customers to expect late bargains but provides little value. It recommends that hotels adopt an airline-style pricing model of early discounts and late premiums based on availability, like seating buckets that adjust based on bookings. Hotels should offer best prices 6 months out and increase toward the rack rate as dates approach.