Under System Configuration => Policy => Policy Text can be added using HTML codes.  In the example below, it the property has a lengthy Privacy Policy to insert, offering up a link to a Privacy Policy page may be a better practice:

Without using a link:

Using an embedded HTML link, as an example:  I have read and agree with Hotel's  <a href="https://roomkeypms.com/privacy-policy/"target="_blank">Privacy Policy</a>