Rack rate
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What is a rack rate?
It is the standard rate or published tariff defined by the hotel management for a particular room category/type. This is what generally is shown on the tariff sheet of the hotel, on the website etc. These rates are always without any sorts of discounts, so they are kind of the maximum price is most situations. So they say, you could consider them 'the ideal price' from the management perspective.
The counterpart is the last-minute price, though there is much more price systems then just these two. The relation between cost price, sales price and profit is to be found in RevPAR.
More info online on sites like:
Traveltips or Why are these rates so high?.
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