The type of reservation are as follows:
A) Guaranteed Reservation:
In the guaranteed reservation, the hotel assumes that guest that the required rooms shall be blocked after confirmation. Under this the hotel agrees a hotel a room until a specific time of reservation following variation in the advance payment for guaranteed reservation are:
i) Advance deposit: An advance deposit guaranteed reservation requires that the guest pay the hotel the anticipated amount of money before arrival.
ii) Pre-payment: This requires full payment prior to the guest arrival. This is normally the most desirable form of a guaranteed reservation.
iii) Credit card: Guaranteeing reservations through credit card are most popular method of payment in the business hotel. Depending upon the financial status and money in bank, the credit card is issued to the buyers/clients.
iv) Travel agents: Guest pays the travel agent in advance for their tour packages and the travel agent guarantees the clients reservation. In case of no show the hotel generally bills the travel agency for payment and according to agreement.
v) Corporate guarantee: This is a contractual agreement between Corporation Company and hotel which state that the corporation will accept financial responsibility for any no-show guest.
B) Non-Guaranteed Reservation:
It is a provisional reservation. In this reservation, neither there is any legal process of confirming the room nor is any payment for the advanced deposit made. Non-guaranteed is a provisional reservation in which room revenue is not secured.
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