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Overbooking Meaning in Urdu
Overbooking
Meanings
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Overbooking Meaning In Urdu with Detail
Overselling or overbooking is sale of a volatile good or service in excess of actual supply. Overselling is a common practice in the travel and hospitality sectors, in which it is expected that some people will cancel. The practice occurs as an intentional business strategy where sellers expect that some buyers will not consume all of the resources they are entitled to, or that some buyers will cancel. The practice of overselling aims to ensure that 100% of available supply will be used resulting in the maximum return on investment. However, if most customers do wish to purchase or use the sold commodity, it may leave some customers lacking a service they expected to receive.