Definitions for "Overbooking"
The practice of confirming more seats or rooms than are actually available. Suppliers state they must overbook to compensate for the high rate of no-show passengers.
Overbooking occurs whenever the number of seats on an airline or rooms in a hotel that are sold for a given flight or night, respectively, exceeds the number of seats or rooms available. Overbooking occurs because revenue yield managers face stochastic demand patterns, and in order to fill their seats or rooms at some point in the future, they must take a risk that some customers who have reserved space will represent demand today that will not materialize as a actual demand on the date of delivery.
The name given to a situation in which more room reservations have been taken by a hotel than what the hotel can accommodate. Hotels which use overbooking as a policy are increasingly being targeted by tour wholesalers and operators in an attempt to better control and minimize the serious adverse marketing effects which overbooking has for all stakeholders.
a cardinal sin
A VBR process used to increases total link capacity by a factor.
Overbooking is a term used to describe the sale of access to a service which exceeds the capacity of the service.