Agreed (AGR) is a status or rate code used in hotel contracts, reservation systems and the PMS to show that terms have been agreed between the hotel and a client, such as a company, a travel agency, a tour operator or a group organiser. An AGR rate is a negotiated rate that the client has accepted, as opposed to the public rate, and an AGR booking or block is one whose conditions are confirmed in writing.
What does AGR stand for?
AGR stands for "agreed". In hotels it marks a rate, a contract or a booking whose terms both sides have accepted: for example a negotiated corporate rate, a room block for a conference or an allotment contract with an agency.
How are AGR terms determined and agreed upon?
The hotel's sales or revenue team negotiates the terms with the client: the rate per room type, the number of rooms, the period, the cut-off date for releasing unused rooms, cancellation and attrition conditions, and payment terms. Once both sides have signed, the agreed terms are recorded in the contract and loaded into the PMS under their own rate code, so the front office and the reservations team apply the same conditions to every booking that falls under the agreement.
