Hotel Revenue & Management Blog

What is the meaning / definition of Prepaid Rate in the hospitality industry? The term Prepaid Rate, refers to paying for the stay at a hotel in full at the time of booking, rather than at arrival or departure from the hotel. Paying the prepaid rate generally can come with large price reductions from 10% to 25% off the BAR [...]

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). Preferred Placement strategy has a positional advantage. The hotel benefits from those ‘HOT displays’ and from being mentioned ahead of their competition in the hotel [...]

What is the meaning / definition of a Poshtel? A Poshtel is a portmanteau combining the words posh and hostel. The term refers to upscale/luxury hostels that deliver the style and comfort of boutique hotels, while staying in the price range of hostels. This type of accommodation is a rising trend, as it fuses the social aspects affiliated to hostels [...]