Hotel Revenue & Management Blog

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 [...]

What is the meaning / definition of Target Market in the hospitality industry? Adopting a laser-focused approach to selling hotel rooms can be pivotal in achieving excellent occupancy levels, and therefore outstanding profits year-on- year. Marketing towards a specific audience, rather trying to sell to everyone (and being, as we say in the Hospitality Industry, ‘all over the map’!) can [...]

What is the meaning / definition of Switch in the hospitality industry? The term Switch refers to the ‘Pegasus Swich’ – a tool which is used to deliver rates and availability for hotel rooms to the Global Distribution Systems (GDS). THISCO – the previous name of Pegasus Solutions and an acronym for The Hotel Industry Switch Company was established in [...]