Which of the following levels of Redemption Bands do all hotels have?

The correct answer identifies the various levels of Redemption Bands as Peak, Standard, and Off-peak. This classification is widely used in the hospitality industry to categorize room availability and pricing based on demand and timing.

Peak periods typically correspond to high-demand times, such as holidays or special events, when hotels may charge higher rates or have limited availability. Standard periods refer to regular times when demand is moderated, allowing hotels to offer competitive pricing. Off-peak periods are characterized by low demand, often resulting in the most attractive rates or special promotions to encourage bookings.

These defined bands assist hotels in managing their revenue and occupancy effectively according to fluctuating demand throughout different times of the year or week, making this structure essential for all hotels to implement in their pricing strategies.