Hotel Revenue & Management Blog

What is the meaning / definition of OTA, in the hospitality industry? OTA stands for: Online Travel Agency. OTAs are online companies whose websites allow consumers to book various travel related services directly via Internet. They are 3rd party agents reselling trips, hotels, cars, flights, vacation packages etc. provided / organised by others. Travel shopping via online agencies has become [...]

What is the meaning / definition of Operating Costs in the hospitality industry? Operating Costs, also known as Cost of Goods Sold (COGS), is a cost which is directly related to everything needed to keep a business up and running. Examples for Operating Costs include items such as payroll, rent, office supplies, utilities, marketing, insurance, accounting, legal fees and taxes. [...]

What is the meaning / definition of Open Pricing in the hospitality industry? The great thing about pricing by most hotels around the globe is that nothing is set in stone. That is, there can be flexibility where prices have to sometimes be pitched at differing levels, according to the various target markets and distribution channels involved. This pricing approach, [...]