What type of reservation is guaranteed by a customer with payment made in advance?

A guaranteed reservation refers to a booking that is specifically confirmed by the customer through an upfront payment or other assurances, such as a credit card guarantee. This type of reservation ensures that the guest will have a room available upon arrival, regardless of the time of check-in. The establishment commits to holding that specific room for the customer, thus minimizing the risk of overbooking.

In the context of the hotel and lodging industry, this is significant as it provides the property with a certain level of revenue assurance. By requiring an advance payment or credit card guarantee, hotels can better manage their inventory and service commitments, helping to avoid situations where guests arrive only to find their room has been given away due to late arrival.

Other options like advance reservation, credit reservation, and prepaid reservation might imply certain aspects of booking practice, but they do not encapsulate the specific guarantee aspect that comes with confirmed payment leading to prioritized service fulfillment. For instance, an advance reservation could mean a booking made ahead of time without guaranteed payment, while a prepaid reservation might suggest payment was made without necessarily tying it to a guarantee for a room held specifically for the guest's arrival.