Hotel Revenue & Management Blog

What is the meaning / definition of Timeshare in the hospitality industry? A timeshare (sometimes called vacation ownership) is a property with a divided form of ownership or use rights. It is thereby often owned by multiple parties, whereby each owner has rights and access to the apartment at a different time of the year. This turns out cheaper when [...]

What is the meaning / definition of Time per Table Turnaround in the hospitality industry? The term, Time per Table Turnaround refers to a metric used to assess the time it takes a customer group utilising a table/ space from the moment they sit down to the moment they paid the bill and leave. In total revenue management and the [...]

What is the meaning of time based pricing in the hospitality industry? The term time based pricing refers to a method of pricing that charges its customers according to time. This stands differs from value based pricing – whereby the company charges its customers according to value delivered. The Time-Based Pricing Method is the standard in the tourism industry where [...]