Originally Posted by bgriff

A large portion of rooms here may also be sold through other channels at significantly lower effective prices than we're using as reference points. Flight + hotel packages, which often include hotel rooms (and sometimes flights) at opaque below-retail rates, are a mainstay of the AI industry, and indeed before Hyatt bought Apple Vacations I imagine would have been the vast majority of the business at their hotels. There are also other programs like the "Unlimited Vacation Club" run by Apple Vacations which I don't know the details of, but seems to be a decent-sized business to judge from the branded banners wrapped on the doors of other rooms who had booked through it during my SIM stay.