Glossary of Terms
A
Affiliation
An affiliation is a partnership or membership relationship between a hotel property and a larger hotel brand, consortium, or organization. These alliances can take many forms and provide numerous advantages to both the hotel and the linked company.
Auto Stop Sell by Time
Auto stop sell by time is a feature in hotel revenue management systems that automatically stops the sale of rooms on a specified day and time when certain conditions are fulfilled. This function is designed to ensure that the hotel does not oversell its inventory and to maximize income by managing room availability based on demand and capacity restrictions.
B
Base Rates
The base rate is the standard price for a specific type of room or accommodation provided by the hotel without any discounts. This serves as the initial reference for determining or modifying other rates, considering factors like demand, seasonality, occupancy levels, and guest preferences.
Booking Engine
A booking engine is a software application used by hotels, resorts, and other lodging establishments to enable guests to book accommodations directly through the property's website or other online channels.
C
CC CVC
CC CVC stands for Credit Card Card Verification Code. It is also known as the Card Verification Value (CVV) or the Card Security Code (CSC). This is a security feature found on credit and debit cards, usually a three or four digit number on the back or front of the card.
CC Token
CC token refers to a tokenized credit card number. Tokenization is a security tool that protects critical financial information during transactions, particularly in online and mobile commerce.
CC Tracking ID
CC Tracking ID refers to a unique identifier associated with a credit card transaction for tracking and reference purposes. This ID helps merchants and payment processors track individual transactions and resolve any issues or inquiries related to those transactions.
CC Unique Code
CC Unique Code refers to the unique identification number associated with a credit card, which could include various elements such as the card number, expiration date, and CVV/CVC code.
CC Vault Token
CC Vault Token refers to a tokenized version of credit card information stored in a secure vault or database.
Channel Insights
Channel insights give hoteliers important data and information about how their rooms are marketed through various channels. This information allows hotels to make informed decisions regarding their distribution strategy, pricing, marketing efforts, and overall revenue management.
Channel Specific Pricing
Channel-specific pricing is the practice of charging various rates for the same product or service based on the sales channel through which it is sold. Channel-specific pricing is a prevalent strategy in the hotel industry for increasing revenue and occupancy by adjusting prices to different distribution channels.
Closed on Arrival
Closed on Arrival (COA) is a restriction used in hotel booking systems to prevent guests from checking in on a specific date, even if they stay afterward.
Closed on Departure
Closed on Departure (COD) is a restriction that prevents a guest from checking out on a specific date. This is often used to manage occupancy around busy dates.
Commission Amount
Commission Amount typically refers to the percentage of the booking revenue that hotels pay to third-party booking channels, such as online travel agencies (OTAs), global distribution systems (GDS), and travel agents, in exchange for facilitating reservations.
Conversion Drivers
Conversion drivers are unique features or elements inside a website, marketing campaign, or user experience that persuade users to perform a desired action, such as purchasing a product, signing up for a service, or completing a form. These drivers are intended to motivate and encourage users to progress through the conversion funnel, eventually converting into customers or leads.
Credit card retrieval
Credit card retrieval involves obtaining information about a credit card transaction from the credit card issuer or payment processor. This process is usually started by a merchant or business in response to a customer dispute, fraud investigation, or request for transaction details.
Customer Support
Customer support is a range of services provided by a business to assist its customers. The primary goal of customer support is to ensure customer satisfaction and address any questions, concerns, or issues that customers may have in a timely and effective manner.
D
Drip Feed
Drip feed refers to the practice of progressively releasing available hotel inventory for sale over time, rather than making all rooms available for booking at once.
Dynamic Pricing
Dynamic pricing is a pricing strategy in which prices for rooms or services are updated in real time based on a variety of factors including demand, supply, competition, and market conditions. This method helps hotel/organization to improve revenue by dynamically changing prices to match variations in demand and maximize profitability.
E
ETA
ETA stands for "Estimated Time of Arrival." It refers to the anticipated time at which a guest is expected to arrive at the hotel for check-in. Knowing the ETA of guests allows hotels to better manage their operations, including staffing, room preparation, and guest services.
Extra Adult Rate
Extra Adult Rate refers to the additional charge applied when an additional adult stays in a hotel room beyond the standard occupancy limit.
Extra Child Rate
Extra Child Rate refers to the additional charge applied when an additional child stays in a hotel room beyond the standard occupancy limit.
Extra Fees
Extra fees refer to additional charges that guests may incur during their stay beyond the base room rate. These fees can vary depending on the hotel and the services offered, and they are often disclosed to guests either at the time of booking or upon arrival. Some examples of Extra fees are: Parking fees, Wi-Fi fees, Early Check-in or Late Check-out, and Mini bar charges.
F
G
GDS
GDS (Global Distribution System) refers to a network of interconnected computer systems that travel agents and other professionals use to get real-time information about travel products and services such as flights, hotel rooms, rental vehicles, and so on.
Group Hotels
Group hotels, often known as hotel chains or hotel groups, are a collection of many hotels that share a common brand or management structure. These hotels are often owned by the same parent business or franchisor and have similar branding, standards, and operational procedures.
H
I
iFrame
An iFrame, short for inline frame, is an HTML element used to embed another HTML document within the current HTML document. It allows content from one website or web page to be displayed within another website or web page seamlessly.
Invalid CC
In the hotel industry, Invalid CC occurs when a guest's credit card is declined or considered invalid at the time of payment. This usually happens when the guest's credit card cannot be processed for reasons such as insufficient funds, an expired card, incorrect information, or suspected fraud.
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Listing Base Price
Listing base price refers to the initial or starting price set by a host when listing a property on a platform like Airbnb, Booking.com, or a similar vacation rental or accommodation website. This price is the rate that the host sets for renting out their property for a specific period, usually per night or per stay.
M
Max Occupancy
Max Occupancy refers to the maximum number of individuals allowed to occupy a specific space or accommodation unit, such as a hotel room, vacation rental, apartment, or event venue.
Maximum Stay
Maximum stay refers to the maximum duration of time that an individual or group is allowed to stay in a particular accommodation, such as a hotel, vacation rental, or campground.
Meta Channels
In the hotel industry, meta channels are internet platforms or channels that aggregate and distribute hotel inventory from numerous sources, allowing users to search, compare, and book hotels in one place. Popular travel metasearch engines are Google, Trivago and TripAdvisor, that can drive potential guests directly to your property’s website for direct bookings.
Metasearch Engines
A metasearch engine is a specialized search tool used in the hotel business to gather and compare hotel prices and availability from multiple online travel agencies (OTAs), hotel booking websites, and direct hotel booking channels.
Minimum Stay
The Minimum Stay refers to the minimum number of nights a guest is required to stay when booking a room.
Mobile Booking Management
Mobile booking management is the use of mobile devices (such as smartphones and tablets) to handle the process of reserving, maintaining, and amending bookings or reservations, primarily in the hospitality business.
N
No Show
In the hotel industry, a "No Show" occurs when a guest does not arrive for their reservation and fails to cancel it beforehand.
O
Occupancy
Occupancy refers to the number of individuals — typically broken down by adults and children — staying in a hotel room. It helps determine the room setup, pricing, and compliance with occupancy limits.
OTA Integration
OTA integration is the process of connecting a hotel's property management system (PMS) to online travel agencies (OTAs) through APIs.
OTA Promotions
OTA promotions are special deals, discounts, or promotional campaigns launched by online travel agencies (OTAs) to attract users and increase bookings on their platforms.
OTAs
Online Travel Agencies (OTAs) are internet platforms that allow travelers to explore, compare, and book a variety of travel-related services, including flights, lodging, vehicle rentals, excursions, and packages. OTAs collect inventory from a variety of suppliers, including airlines, hotels, car rental businesses, and tour operators, allowing customers to access a diverse selection of options in one location.
Overbooking
Overbooking is the practice of accepting more reservations or bookings than the number of available rooms.
P
Payment Due
Payment Due refers to the amount of money that a guest owes to the hotel for their stay, services, or any other charges incurred during their visit. It represents the outstanding balance that needs to be settled by the guest before they check out or depart from the hotel.
Payment Gateways
A payment gateway is a technology solution that allows hotels and lodging facilities to securely accept online payments from customers for room reservations, bookings, and other services.
PCI DSS complaint
PCI DSS stands for Payment Card Industry Data Security Standard. It is a collection of security guidelines intended to ensure that all businesses that take, handle, store, or send credit card information operate in a secure environment. Being PCI DSS compliant indicates that a company follows these requirements to protect cardholder data from theft and fraud.
Penalty
Penalty in the hotel industry involves a monetary consequences enforced on guests who breach hotel rules, terms, or conditions. Penalties are usually enforced to ensure adherence to regulations, follow order, and reimburse the hotel for any incurred losses or damages.
PMS
PMS stands for Property Management System, which is a software application used by hotels, resorts, vacation rentals, and other lodging establishments to streamline and automate various operational tasks related to managing their properties.
PMS Partner
A PMS partner is a company or provider that offers a Property Management System (PMS) for hotels.
Pool inventory
Pool inventory is a management approach that allocates rooms or accommodation across multiple distribution channels to maximize occupancy and income.
POS
POS stands for Point of Sale. In the hotel industry, POS systems are used in various areas of hotel operations to facilitate transactions and enhance guest services.
Price After Tax
Price After Tax refers to the total cost of a guest's stay at the hotel, including all applicable taxes and fees. It represents the final amount that guests are required to pay at the time of checkout or payment.
Price Before Tax
Price Before Tax refers to the total cost of a guest's stay at the hotel, excluding any applicable taxes. This includes the base rate for the room or accommodation, as well as any additional fees or charges incurred during the stay, such as resort fees, parking fees, room service charges, etc.
Price Mode
Price mode refers to the pricing strategy or approach adopted by a hotel to determine the rates charged for its rooms and services.
Q
R
Realtime updates
Real-time updates refer to the immediate transmission and dissemination of information, data, or changes in operations, services, or bookings within the hotel's systems or to third parties.
Revenue Control
Revenue Control refers to the strategic management of revenue streams to maximize profitability and optimize financial performance. It involves implementing policies, processes, and systems to monitor, analyze, and manage hotel revenues effectively, with the aim of increasing revenue, reducing costs, and improving overall profitability.
S
Secure payment processing
Secure payment processing involves the use of various measures and technologies to safeguard the privacy, accuracy, and legitimacy of financial transactions carried out through electronic payment systems. Ensuring the security of sensitive payment information, like credit card numbers, is crucial to prevent unauthorized access, fraud, or misuse during the payment process.
Self OTA Mapping
Self OTA Mapping refers to the process by which hotels and other accommodation providers map their properties' room inventory, pricing, and availability to multiple online travel agencies (OTAs) and booking platforms.
Sellable Product
In the hotel industry, a sellable product refers to any item, service, or experience that hotels can offer to guests for a fee. These products contribute to the hotel's revenue stream and enhance the overall guest experience.
Special Request
Special request refers to any specific or personalized request made by a guest to customize their stay or accommodate their preferences. Special requests are intended to enhance the guest experience and cater to individual needs or preferences.
Stay View
Stay view is a hotel management system feature that allows hoteliers to view detailed information about a guest's stay — including check-in/check-out dates, room type, number of nights, reservation status, and any special requests or notes associated with the booking.
Stop Sell limits
Stop Sell limits refers to a revenue management strategy used by hotels to control the number of rooms available for sale on a particular date or for a specific room type.
T
Thread ID
Thread ID refers to a unique identifier for a thread in computing — this is typically relevant in software development or IT systems, not standard hotel terminology.
Tokenization
Tokenization in APIs is the practice of using tokens to authenticate and authorize access to specific resources or actions within an application programming interface (API). Tokens are unique identifiers generated by the API provider and issued to clients after successful authentication.
Total Before Tax
Total Before Tax refers to the total amount charged to a guest for their stay at the hotel before any applicable taxes are added. This total encompasses the cost of the room or accommodation, as well as any additional fees or charges incurred during the stay, such as resort fees, parking fees, room service charges, etc.
U
Upselling
In the hotel industry, upselling is the process of encouraging guests to purchase additional products, services, or upgrades beyond their original booking in order to improve their stay and boost the hotel's revenue. Upselling is a common approach employed by hotels to increase the value of each guest's vacation and overall profitability.
V
Vacation Rentals
Vacation rentals are properties, such as houses, flats, or villas, that are rented out to tourists for short periods of time, usually lasting from a few days to several weeks. These rentals provide an alternative to typical accommodation such as hotels, giving guests a home-like environment and the ability to experience a location in a more intimate and authentic manner.
Vendor Booking
Vendor booking typically refers to the process of booking services or products from external vendors or suppliers for events, trips, or other activities.
W
Wholesalers
In the hotel industry, wholesalers are intermediaries or third-party entities that purchase rooms in bulk from hotels or hotel chains at discounted rates and then resell them to travel agents, tour operators, online travel agencies (OTAs), and other travel sellers at a markup. These wholesalers act as distributors, helping hotels fill their rooms and reach a wider audience of potential guests, while also providing travel sellers with access to a variety of hotel inventory.
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