On "list price"

Why Daily Deals Are Becoming A Raw Deal: "Travel is another category that makes extensive use of fake pricing. My favorite example of this is Starwood’s 50% off certificate. You can redeem 1,000 loyalty points for a certificate that will get you 50% off your hotel stay. But that’s based on the hotel’s full rack rate, which almost no one ever pays. As a test, I called to check on the rate for the Palace Hotel for tomorrow. The SPG50 rate is $299. The best phone rate is $199. My corporate rate is $169. The best online rate is $161. Some deal! (I love Starwood Hotels, but this rate is just an embarrassment to the brand.)"