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In this video tutorial, you will learn how to create a block and allocate rooms on the room and rate grid in Opera Cloud. To start, you need to create a new block by going to the bookings section, selecting blocks, and then managing the block. Next, you link a company by searching for their name and selecting from the list of Company accounts. You can also create a new company profile if needed. Update the default block name, complete required fields, select the market, source, and reservation type from the provided lists. Follow these steps to effectively manage blocks and allocate rooms.