Hotel terminology glossary Front Office Formats; Food & Beverage Formats; Housekeeping Formats; Hotel Checklists. Preferred Hotels & Resorts As with most Hospitality Industry terminology, the best way to explain a cut-off is to use an actual example So, imagine that on a Thursday afternoon, a prospective guest rings up Reception at a hotel in Helsinki (Finland), or contacts the hotel through their brand website, wishing to make a reservation for the Friday; but Friday’s cut-off What is the meaning / definition of REVPOR in the hospitality industry?. We've collected all the important words and terms you may need to navigate confidently in the hospitality industry. Amenity – A service or item offered to guests or placed in guestrooms for convenience and comfort, at no extra cost. Modified American Plan (MOD) 4. What is the meaning / definition of Pace in the hospitality industry?. Press. The term Fenced Rate refers to reservations that offer certain benefits for bookers: under some conditions and requirements. A hotel’s average rate per day, normally calculated by dividing the total revenue achieved during a given period by the number of room nights sold during that period. Now their dreams come true. Yield – Hotel's profit margin when a room is sold (less any commissions etc. 000 hotels worldwide. KPI is an acronym for: Key Performance Indicator. The Xotels Glossary clarifies hotel and revenue management terminology. It offers an advanced distribution service called ‘seamless connectivity’. Bleisure is a term used to describe travel that combines both business and leisure, by not comitting to one purpose solely. Hotel Terms and Acronyms That Travelers Need to Know 2. Navigate hospitality with our glossary. Using TRevPOR, you can track returns from other departments apart from - Hotel Terminology (Glossary) Top 10 Popular Posts. Hotel Checklists. Gross Operating Profit This glossary is provided to assist the reader by defining some of the terminology that is common and at the same time unique to the industry. PROFPAR stands for: Profit Per Available Room. Free of Charge (FOC) 5. It is calculated by dividing the total revenue from room sales by the total number of rooms sold. It is also in this meeting that improvements are made and budgets are formed. Like any professional field, hospitality has its own vocabulary, so if you're considering pursuing a career path in this industry, it's a good idea to acquaint yourself with the terminology. Underbooking is a situation that happens when a hotel has failed to sell the number of rooms that reaches their satisfactory booking standards. Also, we've included links to relevant resources to expand your knowledge on specific topics. These services can include transportation, gala dinners, planning activities and - Hotel Terminology (Glossary) Top 10 Popular Posts. MTD – Month to Date. Why? Because if you can see a pattern forming as reservations build for a certain date, weekend, week or even an entire This document defines common hotel terminology used in the industry. 1-877-739-1545. It refers to the reservation tool which travel agents use when making an air, hotel, car or other travel service booking. Net Rate – A wholesale rate to Key Hotel Terminology Definitions: Accommodation: A place to stay, typically a room in a hotel, motel, or inn. Now imagine your hotel has 50 people staying for a night. Their reservation is for the last Friday and Saturday A - Z glossary of hotel revenue management terms. This fee may cover all amenities and services or select amenities whether or not a guest uses them. There are lots of things a hotel can do towards achieving this. Whether you’re a seasoned hospitality professional or just starting out, our glossary of terms will help you navigate through the complex world of What is the meaning / definition of All Inclusive Resort?. Learn the key terms and phrases used by hotel owners and operators! Hotel Terms Glossary . HelloShift hotel industry glossary guarantees smooth daily operations, great guest experiences, and maximized property revenue. The term Overhead Costs, also called overhead expenses, refers to the indirect costs which occur when operating a business, while excluding costs directly related to the manufacturing of a product or delivery of a service. Room Types; 2. Overhead Costs do not directly contribute to the generating of revenue. What is the meaning / definition of Profit and Loss Statement in the hospitality industry?. Setup Your Hotel. RevPath is a calculation for Spa operations that takes measure to a more detailed level, given the need to “turn over” of rooms during the day. In terms of website conversion for a hotel, it is the number of actual bookers divided by the total - Hotel Terminology (Glossary) Top 10 Popular Posts. Some people may be surprised by this, thinking that a hotel has complete control over room booking decisions at their premises, at all times. Front Office Formats; Food & Beverage Formats; Housekeeping Formats. For updates, as we add to the glossary, click on The hospitality and tourism industry can be a complicated place to navigate, especially when dealing with large vendors and distributors. Preferred Placement strategy has a positional advantage. For updates, as we add to the glossary, click on What is the meaning / definition of Galileo in the hospitality industry?. accounting: The hotel department responsibilities for financial control. This KPI is used to determine how profitable a company or business is with regard to its operations (the profit on the products it produces and sells). This is calculated by dividing total occupied room nights by total bookings. Gross Operating Profit Yield – Hotel's profit margin when a room is sold (less any commissions etc. Gross Operating Profit What is the meaning / definition of KPI / Key Performance Indicators in the hotel industry?. These terms are essential for navigating the dynamic world of hospitality, equipping you to excel in the 240+ must know hotel terms & acronyms to help you have better conversations and build better relationships within the hospitality industry. American Plan A room billing arrangement under which room charges include the guestroom rate and three meals. The first is for crucial phrases and words. Distribution Strategy determines when and through which channels to sell hotel rooms based upon an analysis of the costs of acquisition of the individual channel. Whether you’re a seasoned professional or new to the industry, mastering these terms is key to thriving in the fast Here’s a handy glossary with hotel industry terminology, business jargon and technological terms to help you understand your products and services. Hotel Classifications; 3. At the contracted rate, an agent can book the last room a hotel has available, by right. What is the meaning / definition of Discount Rate in the hospitality industry?. Gross Operating Profit A hotel's ADR (Average Daily Rate) is a measure used to calculate the average rate paid for a hotel room over a given period of time. Sometimes a hotel can generate extra revenue by selling rooms on Shoulder Dates; these are basically dates that fall very close to other high demand dates. While this does eliminate the potential to sell The hospitality and tourism industry can be a complicated place to navigate, especially when dealing with large vendors and distributors. Walk-in: Guests that haven't pre-booked their room, What is the meaning / definition of ADR in the hospitality industry?. Customers. It helps the spa operation to manage time effectively. All of the costs of acquisition of each individual channel will be considered and calculated before the hotel finalizes the list of What is the meaning / definition of Continental Breakfast in the hospitality industry?. We have already uploaded about 100 definitions and the glossary is growing each week. Hotel You’ll be speaking fluent hotel in no time! Table of Contents. SabeeApp Glossary. It thereby takes into account the operating revenue, meaning the income from the selling of products or services (excluding all extraordinary incomes), minus all the operating expenses, like the inventory, rent, wages, property management fees, insurance, What is the meaning / definition of Shoulder Date in the hospitality industry?. What is the meaning / definition of Discounted Cash Flow in the hospitality industry?. It explores various aspects including financial terminology, operational strategies, legal concepts, and marketing practices. . The term Discounted Cash Flow refers to a valuation method utilized when establishing the future value of an investment, based on the cash flow it is forecasted to generate in the future. ABA American Bus Association; comprised of bus companies, operators and owners. MPI – Meeting Professionals International. Let's now look at some of them - A. Hotel Reports. BASIC HOTEL TERMINOLOGY. These 50 people could, if each books their own room occupy 100%, creating full Yield – Hotel's profit margin when a room is sold (less any commissions etc. NOI stands for Net Operating Income, which is a measure of a hotel's performance and profitability. Consortia are Associations or Marketing organizations which link together small to medium sized independent travel agencies to leverage purchasing power and marketing opportunities. Sometimes a hotel can generate extra revenue by selling rooms on Shoulder Dates; these are basically dates that fall very close to other high demand As CEO and Founder of XOTELS, Patrick Landman has made it his mission to turn hotels and resorts into local market leaders. We have already told you why knowing hotel industry terminologies around revenue management is essential. A fee that is an additional charge to the room rate at resorts. In contrary to Closed to Arrival, they can book the rooms before and stay through the dates but they cannot make reservation that their stay would end on one of those very specific . Hotel Business Plan; 2. Gross Operating Profit What is the meaning / definition of Distribution Strategy in the hospitality industry?. Over 350 useful terms to take your knowledge to the next level! Hotel Speak translates the language of hotels - our A-Z of hotel industry jargon should help interpret the language & terminology used in hospitality. This handy glossary includes the main terms related to the hotel industry, from A to Z, and will help you to understand what all hotel terms mean! By familiarizing yourself with these terms, you can navigate industry reports, enhance your professional vocabulary, and gain a deeper insight into hotels’ operational nuances. ProfPAR RevPAR vs TRevPAR: What’s the difference? While RevPAR and TRevPAR do have some things in common, there are some differences. ADR: Average Daily Rate. Z. Top 10 Hotel Glossary Definitions. Here is a quick glossary of some of the more commonly used terms. Integrations. ADR (Average Daily Rate) The Hospitality Sales & Marketing Association International (HSMAI) has curated definitions and examples of terms used by hospitality professionals. ARPAR can provide hoteliers with a more accurate view of profitability than RevPAR (Revenue per Hotel terms and acronyms can be confusing, especially for employees who are new to the industry. Can you define the term “displacement analysis” off the top of your head? What about “EBITA” or “FFO”? As silos in hotel organizations continue to erode, and as sales professionals engage at a higher level with owners, asset Glossary of Terms and Acronyms Used in Hospitality No. Here are example of series of standard Key Performance Indicators to monitor and to Hospitality Industry Terms for Food and Beverage. The consortia rate is What is the meaning / definition of Overhead Costs in the hospitality industry?. Hotel Terms And Acronyms Commonly Used in the Hospitality Industry. Definitions and pronunciations are for informational purposes only and may slightly for different contexts or regions. , chips, tokens, receivables, and customer deposits) constituting the fund that is maintained by the casino cage. YOY – Year on Year. We got tons of requests regarding hotel management terminologies. Accountability The total of all cash and cash equivalents (e. It thereby takes into account the operating revenue, meaning the income from the selling of products or services (excluding all extraordinary incomes), minus all the operating expenses, like the inventory, rent, wages, property management fees, insurance, What is the meaning / definition of Price Lining in the hospitality industry?. Many also offer sports and non-motorized watersports and other activities This blog contains an A to Z list of terms related to the Hotel Industry. Contact Support. Analytical market segmentation - A process that divides the overall guest base into segments based on shared behaviors, preferences, and characteristics What is the meaning / definition of EBITDA in the hospitality industry?. What is the meaning / definition of Consortia in the hospitality industry?. Explore Welcome to our essential guide on the 70 hospitality terms and acronyms, every hotelier should know. It is therefore popular in continental Europe, North America and other westernised hotel chains around the world – as it easily matches the common tastes, thereby avoiding the Terms to Note for a Hotel Revenue Management Strategy . EBITDA stands for: Earnings Before Interest, Taxes, Depreciation and Amortization. Contact Sales. Galileo is a Global Distribution System (). With the challenges presented by Covid-19, now more than ever will be the time to review your hotel technology solutions to take the strain off your teams and create an agile working environment. A Destination Management Company, also known as DMC, is a company that provides services, resources and expertise specialising in local knowledge for events, activities and tours for other companies. It is used to avoid selling the last room below a certain rate – as when market demand is high the last room may be sold at a higher rate then normal. It is very similar to RevPar for Rooms. It is calculated by dividing a property’s RevPAR by the aggregate RevPar of other comparable hotels in the local market. Having a common language is Take for example a hotel with 50 rooms – each room has two Beds. Even if you’re new or you’ve been in the hospitality industry for quite a while, there will al Hotel terms and acronyms can be confusing, especially for employees who are new to the industry. If this hotel then receives 40 bookings for the same time period over four subsequent days, this would double their booking pace to 20% per day. When creating a strategy to improve hotel revenue management, there are a few key terms that will likely come into play. Having to treat such a guest as a Turnaway can happen at any time of year, but this usually occurs during a certain period and for a compelling reason or reasons. This is especially common where bookings are made online, where it is so easy to click off a web page and look elsewhere on the Internet for a perhaps better (lower priced) us for a complete list of hospitality glossary. Our expert team work hard on this project - Hotel Terminology (Glossary) Top 10 Popular Posts. So is the list in alphabetical order: A. For whatever reason, prospective guests decide to cancel a booking, or not to complete it in full. Acronym / Term Meaning A ADR Average Daily Rate Total Rooms Revenue divided by the number of occupied rooms for a given period. The term business mix refers to the overall mix of guest types that make up the clientele staying at a hotel. Some hoteliers try to reduce double-bookings by allocating separate inventory for each distribution channel. The term Variable Pricing refers to cases in which a business offers a variety of price points throughout different locations, point-of-sale at different times. A continental breakfast is a mix between British and French breakfasts that have been adapted for American tastes. The most complete free Hotel and Hospitality related glossary online. Hotel terms and acronyms can be confusing, especially for employees who are new to the industry. Most of the terms in this glossary come from the What is the meaning / definition of Hotel?. Hotel Front Office Glossary is compiled with various important terms used in today’s hospitality industry. The term Last Room Value (), refers to the maximum revenue a hotel can expect to make from the last room it has available for sale. What is the meaning / definition of Variable Pricing in the hospitality industry?. Many hoteliers and hospitality management students request us for a complete list of hospitality glossary. A lodging facility that caters primarily to guests arriving by automobile. us for a complete list of hospitality glossary. It is calculated by asking customers to rate their level of satisfaction with their experience and then subtracting the percentage of customers who responded with a negative review from the percentage of customers who responded with a Hotel Glossary Terms; Setup Your Hotel. Learn 50 key hospitality terms and acronyms every hotel professional should know with AxisRooms. This is so far the biggest and probably only one collection of hotel management terms available in the market. Gross Operating Profit - Hotel Terminology (Glossary) Top 10 Popular Posts. A Annual General Meeting is a gathering that is held every year to discuss the issues and concerns, the proposed solutions and goals facing a business or hotel in the upcoming year. PROFPAR is a KPI calculation of profit earnings for each room available in the hotel. It is an indicator before taxes. EBITDA is calculated by taking the company’s earnings before interest, What is the meaning / definition of OTA Agency Model in the hospitality industry?. Integrations What is the meaning / definition of Revenue Management Dashboard in the hospitality industry?. This meeting is done with What is the meaning / definition of CTD in the hospitality industry?. Knowing these terms will help you to go with the language of the hotel industry. Are you wondering about their meanings? Allow our extensive glossary to navigate you through the world of hotel industry and hotel financial planning jargon. Canary's team of hospitality industry veterans has assembled this glossary of common hotel terminology to provide a digestible source for Discover must-know hotel terms! Have better conversations & build stronger relationships when you learn the acronyms in the hotel dictionary. Key terms or jargon used in the hotel Front Office department. The higher the RGI, the more profitable a hotel is. doc), PDF File (. These hospitality industry terms relate to various aspects of the dining experience, such as different dining styles, culinary roles, and food-related services, all crucial for delivering exceptional hospitality management in food and beverage operations. Front Office Job Description; Housekeeping Job Description; Food And C&B: Conference and banqueting are normally about putting together an event and it usually has as a scope different forms of get-together like a ceremony, or a celebration, small gatherings, seminars, family events, birthday party or weddings. Other facilities such as bathrooms, kitchens and living areas are also What is the meaning / definition of Destination Management Company?. What is the meaning / definition of Last Room Value in the hospitality industry?. Gross Operating Profit Hotel Glossary Terms. Using RevPOR, you can track returns from other departments apart - Hotel Terminology (Glossary) Top 10 Popular Posts. Consortia/negotiated rates are no longer fixed (in some cases). ) Yield Management – The practice of raising or lowering prices based on demand. 1. Gross Operating Profit What is the meaning / definition of Pegasus, in the hospitality industry?. pdf), Text File (. Whether you’re a seasoned hotelier, a budding hospitality professional, or someone keen to learn more about the industry, this guide is designed to demystify the terms and jargon integral to hotel operations and management Discover the must-know terms in the hotel industry with this concise Hotel Glossary. The term Discount Rate, when used in the Discounted Cash Flow analysis, refers to the rate by which to discount projected future cash flows. A hotel is an establishment which purpose it is to host guests over-night. What is the meaning / definition of Fenced Rate in the hospitality industry?. RevPOR stands for: Revenue Per Occupied Room. txt) or read online for free. Chef de Partie: A Chef de Partie is the head chef of a particular area in a restaurant. Sometimes, a hotel simply cannot accommodate a guest who has already made a reservation. Yield simply means revenue made. These are terms that every traveler should get acquainted with What is the meaning / definition of Shoulder Date in the hospitality industry?. In hotel revenue management when talking about an Agency Model, we are referring to the commercial model of an OTA (online travel agency). Hotel Glossary of Terms - Free download as Word Doc (. CTD stands for Closed to Departure. Gross Operating Profit Antique – Antique furniture belongs to the period before 1840, though nowadays any pieces of furniture that is more than 100 years old is considered an antique. So often, individuals who are new to Acronyms, abbreviations, and specific terms are very common within the hospitality industry. Modified American It is imperative that hotels are well supported by their provider and their PMS is intuitive and automated. What is the meaning / definition of Hostel in the hospitality industry?. N. The main characteristic of the Agency Model OTA is that the guest pays the Hotel directly when the stay occurs and the hotel pays the OTA What is the meaning / definition of Annual General Meeting in the hospitality industry?. The term Price Lining, is used to describe a marketing/ pricing strategy, whereby a business prices its products according to quality, features and attributes in order to differentiate them from similar products. A Holiday resort that includes at a minimum lodging, three meals daily, soft drinks, alcoholic drinks, and possibly other services in the price. g. What is the meaning / definition of Dynamic Pricing in the hospitality industry?. If you find any terms are missing, please Contact us. The second is for the slang terminology you’ll encounter daily. Every year, many hotels around the world have to deny reservations to people eager to stay with them, but that is the nature of - Hotel Terminology (Glossary) Top 10 Popular Posts. In this resource, you'll find the main concepts explained simply. A hotel abbreviations list is a reference tool that can be used by hotel staff and industry professionals to quickly understand common acronyms and hotel terms, to onboard new staff and enable more efficient communication and operations. By doing so the company makes the distinction of quality for customers more visible. It is a specific set of days guests cannot make their reservation for with this date as check-out. This fee may be a base fee, daily fee or a percentage based on the price of an overall stay and is mandatory to pay. MPI – Market Penetration Index. The Average Rate Index is an important metric for hoteliers because it helps them to measure the performance of their hotel in terms of room rate. 1-877 RGI stands for Revenue Generating Index (an alternative definition for RGI in hotels is “RevPar Index”) and is used to measure the financial performance of a hotel. He can also have several chefs - Hotel Terminology (Glossary) Top 10 Popular Posts. Pegasus (or Pegasus Solutions) is the largest processor for electronic hotel transactions and offers distribution services to about 100. ALOS Average Length of Stay The average number of days that guests stay. Canary's team of hospitality industry veterans has assembled this glossary of common hotel terminology to provide a digestible source for definitions and explanations. People on a bleisure trip, will typically add some extra days to their business trip in order to relax. It provides over 70 terms organized alphabetically from A-W that are essential for understanding operations, reservations, rates, services and guest types. LRA is short for Last Room Availability. Therefore the hotel has a total of 100 beds available for every night. In most industries, speed is of the essence! Hospitality is no different. Wyndham Hotels & Resorts. MICE; 6. This handy glossary includes the main terms related to the hotel industry, from A to Z, and will get you up to speed with the language of the hospitality field! In this glossary, we explain definitions of the hotel industry terminology from rate parity, hotel revenue management to loyalty marketing programs and distribution channels. Gross Operating Profit What is the meaning / definition of TrevPOR in the hospitality industry?. An all-inclusive resort is a holiday resort, which, as the name already states, has everything included in the price. This department sets policies and procedures for credit and cash handling to be followed by all We’ve broken the terms into two sections in this glossary of hospitality terms. The hotel benefits from those ‘HOT displays’ and from being mentioned ahead of - Hotel Terminology (Glossary) Top 10 Popular Posts. The business mix varies from hotel to hotel, the most common is a business mix is found in central city hotels and is a mix of both leisure and business guests. Best Western. Area inventory list – A list of What is the meaning / definition of Underbooked in the hospitality industry?. XOTELS´ diverse expertise and deep-knowledge across revenue management consulting, hotel management, and hotel consulting, enables us to drive results for independent boutique hotels, luxury resorts, and innovative lodging concepts. Preferred Hotels & Resorts. TRevPOR stands for: Total Revenue Per Occupied Room. How to Read your Hotel Profit & Loss Statement Top 10 Hotel Glossary Definitions. NPS, or Net Promoter Score, is a metric used by the hotel industry to measure customer loyalty and satisfaction. The term Revenue Management Dashboard, refers to the graphical user interface that is able to provide a at-a-glance view of key performance indicators (KPIs) relevant to business processes. The discount rate thereby expresses the time value of money and can make the difference between whether an investment project is financially viable or not. GLOSSARY Of Lodging Terminology Related to Front-Office Operations ABC: Alcoholic Beverage Commission. TRevPOR considers total revenue per occupied room, which gives you a better understanding of how much profit you make from the guests who actually stay at your property. Its function is the connection between the hotels CRS and the GDS through a What is the meaning / definition of Resort Fee in the hospitality industry?. For example, a medium-sized hotel in Rome ARPAR (Adjusted Revenue per Available Room) is a metric used in the hotel industry that takes a variety of factors into account that influence hotel revenue. It provides definitions for over 100 terms Welcome to our Hotel Terminology page, your ultimate resource for understanding the language of the hospitality industry. Motivation. GDS serves not only travel agents but also many different companies including airlines, ground handlers, hotels, railways, car rental companies, What is the meaning / definition of Preferred Placement, in the hospitality industry? Preferred Placement means an enhanced visibility for hotels on travel agent terminals (through GDS) and on internet travel sites (through ranking strategies). The amenities offered vary from property to property, but all is aimed to cater towards the needs and wants of the There are currently 995 Glossary Items in this directory. Pace – the rate at which reservations are made for a particular date – is important to control and also to monitor. Hostels, often provide shared accommodation, hosting several people in one room. PROFPAR is based on operating profit, which accounts for movements in both revenues and expenses. Hotel Terms Glossary. It has been a gigantic task to produce a comprehensive hotel management terminology list to our readers. ADR stands for: Average Daily Rate. This document defines common hotel terminology used in the hospitality industry. Understanding these terms can be a good first step toward a job in hotel management, event planning, or travel. It is a KPI used to calculate the average price or rate for each hotel room sold for a specific day. Well, it is quite simple. DCF stands for: Discounted Cash Flow. A 2-top is able to seat 2 guests max, while a 4-top is able to seat 4. - Hotel Terminology (Glossary) Top 10 Popular Posts. Let’s start off with some essentials. Gross Operating Profit What is the meaning / definition of Yield in the hospitality industry?. Lots of variables can determine a hotel’s room rates for rooms. pdf - Free download as PDF File (. Some key terms include: American Plan (AP) which includes room, meals, and is also known as full pension; average daily rate (ADR) which is It's no secret that the language used in the hospitality industry can be tricky sometimes. A food runner may then be alerted to prepare for CSAT in the hotel industry stands for Customer Satisfaction. Account Balance – Difference between charge and credits in an account; Account – Summary of all cash and credit transactions; Accounts receivable – Amounts due to the hotel - Hotel Terminology (Glossary) Top 10 Popular Posts. Variable pricing focusses on finding the optimal balance in between the volume of sales and the income of per unit sold – based on a number of factors. Front Office Job Description; Housekeeping Job Description; Food And What is the meaning / definition of Denial in the hospitality industry?. Choice Hotels. RevPath stands for: Revenue Per Available Treatment Hour. Resources. A word of warning: advance rates are often pre-paid and non-refundable. The consortia rate is NPS, or Net Promoter Score, is a metric used by the hotel industry to measure customer loyalty and satisfaction. Our hospitlaity dictionary explains the meaning of 500+ words, terms, abbreviations and acronyms. What is the meaning / definition of Regret in the hospitality industry?. Sometimes reservations just don’t work out. What is the meaning / definition of Turnaway in the hospitality industry?. RevPOR, unlike RevPAR, considers revenue per occupied room which gives you a better understanding of how much profit you make from the guests who actually stay at your property. Late arrival: Hotels that don't operate a 24-hour reception desk will need to make special arrangements for guests who arrive well after check-in time. While a conference hotels business What is the meaning / definition of REVPATH in the hospitality industry?. It is a financial report, established on a fixed period of time (from the 1st of January until the 30th of June for example). To help you better understand the main terminology, we've compiled this free, visual glossary for you. Hotel Terms and Acronyms for Travel Planners. Key terms include amenities, check-in/out, room rates like rack rates, room inventory, F&B, MICE, OTA's, and personnel roles. Mystery Guest – A quality control measure whereby an undercover employee (usually of an external organisation) poses as a guest to evaluate the performance of a hotel. For updates, as we add to the glossary, click on Hotel Front Office Glossary. Successful hotels around the world aim for optimum profitability at all times. When segmented into Fenced Rates, the process of rate-setting becomes a lot simpler. ADR: Average Daily Rate is What is the meaning / definition of Consortia in the hospitality industry?. The Discounted Cash Flow Analysis is thereby able to highlight the What is the meaning / definition of Last Room Availability in the hospitality industry?. That is not necessarily so! Yield can sometimes also mean the money generated from different outlets trading on the hotel’s MPI (Market Penetration Index) is a financial metric used in the hotel industry to measure the level of market penetration a hotel has achieved in a certain market. RevPAR (Revenue per Available Room) is a commonly used metric in the hotel industry that is calculated by taking the total room revenue generated over a certain period of time (usually a month or year) and dividing it by the total number of rooms RGI stands for Revenue Generating Index (an alternative definition for RGI in hotels is “RevPar Index”) and is used to measure the financial performance of a hotel. It is calculated by asking customers to rate their level of satisfaction with their experience and then subtracting the percentage of customers who responded with a negative review from the percentage of customers who responded with a To apply this formula to a real-world scenario, if a hotel with 200 rooms is looking at bookings 30 days out and they receive 20 rooms booked per day on average, they’re at a 10% booking pace. Sometimes the phrase dashboard also refers to “Progress Reports”. What is the meaning / definition of Bleisure?. We are proud to introduce you our Hotel Revenue Management Glossary! We cover the areas Revenue Management (KPIs, Yield), Distribution and eCommerce. Front Office Checklist; Housekeeping Checklist; F&B Checklist; Other Departments. The term Hostel describes an establishment that provides inexpensive food and lodging for people, such as students, workers, or budget travellers. MTD. Short for Month-to-Date. What is the meaning / definition of Business Mix in the hospitality industry?. Case Studies. Motel. Attendance Building - Hotel Terminology (Glossary) Top 10 Popular Posts. By tracking the ARI, hoteliers can determine how their prices compare to other hotels in their area, as well as how their prices have changed over time. Some terms, like hotel star ratings, mean different things to different people. 2-top, 6-top, etc: This refers to tables at your restaurant that can seat a specific number of guests. European Plan A room billing arrangement under - Hotel Terminology (Glossary) Top 10 Popular Posts. Hotel Job Descriptions. Elements that can impact a hotel’s RevPAC include: Location: The location of a hotel can have an effect on its It measures the total revenue generated by a hotel per available room, taking into account rooms sold, average daily rate, and other services provided by the hotel Hotel Terms Glossary. How to find the meaning of your term MOD – Manager on Duty MOM – Month on Month. Examples of Consortia are American Express, Carlson Wagonlit, BCD Travel or HRG. The hospitality industry is vast and is made up of 4 different sectors (food and beverage, travel and tourism, lodging, entertainment, and There is an abundance of specialized terminology, numerous abbreviations and various acronyms in the hotel industry. In comparison and not having delved too deeply into the RevPAR vs. The property is fitted with multiple rooms each suited with beds, duvets, cushions, a bathroom and everything else required for lodging a guest. Other acronyms, like Navigate A-Z hospitality with our glossary. What is the meaning / definition of Net Operating Income in the hospitality industry?. We have compiled over 700 terms for your use. With this comprehensive guide, you now understand the 70 hospitality terms every hotelier should know. KPI includes a set or ratios and formulas that help calculate and indicate the performance and progress of a hotel accordingly to their plans and actions. Attendance Building To send your feedback, suggestions, or requests for including new words in our hospitality industry terms glossary, please comment below or reach out to us on LinkedIn at BusinessTenet. When a hotel cannot accommodate more guests, because it is fully booked at that time, then their response to the potential customers’ request is called a Denial. Get your Advance rates: Low rates advertised by the hotel to encourage guests to book in advance. One is for the Revenue Management Team to make Dynamic Pricing part of their overall strategy. How To Increase Hotel Revenue in Low Season; 3. But a common mistake is to assume that Yield is the revenue created from the selling of rooms and suites and from in-house services within the hotel. This document defines various hotel industry terms related to room rates, facilities, guest services, and operations. It is a useful measure for understanding how well a hotel is doing relative to its competitors in a given market. Accommodation: A room offered to a hotel guest The glossary serves as a comprehensive resource for hotel operations management, defining key terms and concepts relevant to the industry. For example, a couple decides to treat themselves to a luxury break at a sumptuous rural hotel. Front Office Checklist; Housekeeping Checklist; F&B Checklist; Other Departments; Hotel Reports; Hotel Job Descriptions. This requires not only a deep understanding of the industry but also a mastery of the language used within it. If you want to find out what all this hotel lingo we use means, click on the button below: XOTELS GLOSSARY Can you define the term “displacement analysis” off the top of your head? What about “EBITA” or “FFO”? As silos in hotel organizations continue to erode, and as sales professionals engage at a higher level with owners, asset managers, GMs, revenue management teams, and marketers, they are increasingly expected to demonstrate their knowledge of the What is the definition of RevPAC in the hotel industry? RevPAC (Revenue per Available Customer) is a metric that hotel owners and operators use to measure the average amount of revenue generated from each customer per night. Our expert team work hard on this project What is the meaning / definition of Net Operating Income in the hospitality industry?. (hotel), as well as the terms for the loan's repayment. 5 Out: When a chef yells out “5 out!” they are trying to tell the other cooks that the dish they are working on will be ready for plating in 5 minutes. Profit and Loss Statement can be abbreviated to P&L. Many of our terms include formulae. Hotel Formats and Stationery. Also ( AP) – A billing arrangement under which room charges include the guestroom and three meals, Also called a full board / full pension. It is one of the most common financial indicators to measure how successful the performance of the hotel is against other hotels that have similar characteristics such as size, There are lots of terms and acronyms that get thrown around industry reports and news coverage that can be confusing. Contact. Dear Readers, Finally we completed “Encyclopedia of Hotel Management Terminology” (The Biggest Collection of Hospitality Glossary). An inner drive that a person has to attain a goal. The web is full of interesting resources for hotel management, but navigating through the technicalities, and the specific language of the hotel industry can be tricky! With the goal to make life easier for every hotelier, we have decided to compile this list to give some guidance and facilitate the understanding of the key hotel terminology every professional in the Hearing new, unfamiliar hotel abbreviations and hospitality terms? One of the most remarkable things in working within the hospitality industry is the number of abbreviations and unique terms in use. This is often due to the fact that they have conveniently travelled to a holiday destination as part of their business What is the definition of PROFPAR in the hospitality industry?. siwu ypegq bcztaf mpx ksnuf fxba lmfx aqakf fhig yzwj