Originally Posted by WindFlyer
...
What you don't know is the
internal exchange rate used by hotel until you get there
. This rate is typically inflated ~10-15%...
...
It is organized fraud, and it is widespread—virtually all hotels do it; it's less widespread than it used to be at restaurants and stores.
So in theory you do not have a guaranteed rate at all. If they wanted to they could convert 1 currency unit to 1 ruble if they wanted to (as opposed to the interbank rate of approximately 26.7). They can just make it up, although the apparent norm for this scam is about 8%.
It seems misleading to claim that you have a guaranteed rate, if the internal exchange rate can be adjusted by the wind chill factor.
Instead of saying YMMV, it should be YERMV (your exchange rate may vary).
Why can't rates just be guaranteed in local currency with an instant conversion on the Web site using the current interbank exchange rate with a caveat that the actual conversion is subject to foreign currency fluctuations and applicable credit card fees.
Alternatively, they could guarantee the rate in US dollars (or euros, etc.) and charge you in US dollars (in which case you should make sure you do not use a card (such as, I believe Diners, for example) that has a foreign transaction fee for foreign transactions charged in dollars (assuming you have a US dollar Diners account).