What does UNRESTRICTED stand for?

What does UNRESTRICTED mean? We have 2 definitions. Read most used UNRESTRICTED meanings below.

UNRESTRICTED RATE. — In the hospitality industry, a room price that does not reflect any special discounts or circumstances. Similar to the unrestricted fares in the airline industry. See also rack rate.
UNRESTRICTED FARE. — A higher fare for a ticket offering maximum flexibility. Typically, unrestricted fares require no advance purchase, no Saturday night stay, no roundtrip purchase, and are fully refundable without pena

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