Hotel Revenue & Management Blog

What is the meaning / definition of Private Label Chain Code, in the hospitality industry? Private Label Chain Code is a 2-letter code, which is used mainly by the GDS to identify chain operated hotels. Similar to a 3-letter code used in the aviation to identify airports, many hotel chains and hotel groups have their own Private Label Chain Code. [...]

What is the meaning / definition of Private Rate in the hospitality industry? A type of discount hotel rate that is negotiated with a travel agency and vendors and then sold to the public. The rate is discounted to allow the vendors and travel agents to generate a profit from the selling of a hotel room. These discount rates allow [...]

What is the meaning / definition of Pricing Strategy in the hospitality industry? Price is the value that is put to a product or service and is the result of a complex set of calculations, research and understanding and risk taking ability. A pricing strategy takes into account segments, ability to pay, market conditions, competitor actions, trade margins and input [...]