reservation

Reservation is the act of setting aside a resource, space, or time for the use of a particular person or group at a future moment. It can also refer to something that has been set aside as a precaution or safeguard. The term is used in many contexts, with distinct implications.

In everyday life, reservations are common in hospitality and travel. A hotel, restaurant, or airline may require a reservation to guarantee availability. The process usually involves submitting a request, receiving a confirmation number, and, depending on policy, paying a deposit or guaranteeing payment. Cancellations and modifications are typically governed by terms.

Law and land use: In some countries, a reservation denotes land set aside for a specific community, such as an Indigenous or local group. These areas may be subject to a mix of national and customary laws and may contain facilities and governance arrangements distinct from surrounding jurisdictions.

Economics and negotiations: The reservation price, or reservation point, is the price at which a party is indifferent between accepting a deal or walking away. It anchors bargaining behavior and can influence negotiation outcomes, often diverging from market prices.

Other uses and idioms: The verb reserve means to keep something for future use or to withhold judgment. The phrase "to reserve judgment" denotes delaying an opinion until more information is available.