A simple bidding strategy in which the amount you pay depends on whether an end-user clicks on an ad. The amount can be a fixed amount (such as $1.00) or a percentage based on the room rate. The amount is multiplied by the number of nights in the booking.
This bidding stragey is called "Max" CPC because you define the maximum that you are willing to pay in the auction. If other partners' bids are low, then you might not pay this amount; you will instead pay the least amount possible that is more than another partner's bid.
For more information, see Setting Max CPC Bids.