The announcement by the Federal Trade Commission is big news for travelers and concert goers. When consumers get angry about surprise charges, that’s bad for business. The key word is transparency. While hotels and resorts can still charge for optional and mandatory amenities such as cleaning, buffet breakfast, WiFi, fitness centers and more, these fees must be disclosed upfront.

The rule requires lodging and ticketing businesses to clearly and conspicuously disclose the true cost – including all mandatory fees – when they display any pricing. Businesses that exclude taxes or shipping fees from advertised prices must also disclose them before customers enter any payment information.

The FTC estimates the rule will save U.S. consumers 53 million hours per year of time spent searching for the true price of lodging or events.

The rule is scheduled to go into effect in 120 days.