Final answer:
When a convention group is offered different rates based on criteria such as booking volume or stay length, it is known as a spread or sliding rate. This term describes a flexible pricing strategy that can benefit attendees, unlike flat, rack, or run-of-house rates which are more standardized.
"The correct option is approximately option C"
Step-by-step explanation:
If members of a convention group are offered a range of rates, the rate quote is said to be a spread or sliding rate. This term refers to a pricing structure where different rates are offered based on certain criteria, such as the volume of rooms booked, the length of stay, or other negotiated conditions. It allows convention planners to offer a variety of price points to attendees, often rewarding those who book earlier or who commit to a greater number of rooms or services with lower rates.
A flat rate would be a single price offered to all members of a group, irrespective of how many rooms or services they book.
A rack rate is a hotel's standard room price without any discounts.
The run-of-house rate is a rate type where the hotel chooses the room assignment, not the guest, often leading to a discounted group price because the hotel can efficiently manage its inventory.
When people refer to all of the above options in the context of rates, they mean that the question includes multiple rate types that aren't all necessarily applicable to the situation described.