If you make a reservation for a vacation condo online and you have the confirmation number, is that a binding contract ahthough no money has changed hands?

Question Details:

We rented a vacation condo online and received the confirmation that everything was fine. A few days later the condo management company contacted us and said they cannot honor the rate because the website information was incorrect. Now we don't have a place to stay with out paying the highly increased nightly rate.

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