Hotel Revenue & Management Blog

What is the meaning / definition of MinLOS – Minimum Length of Stay in Hotels in the hospitality industry? At hotels, the number of nights a guest can stay is not necessarily always up to the paying customer, even if they have lots of money to spend on both rooms and in-house serves, such as food, beverages and recreational activities! [...]

What is the meaning / definition of MICE in the hospitality industry? The acronym MICE stands for Meetings, Incentives, Conferences and Exhibitions. It refers to a group of tourism that plans, books and organises conferences, seminars and other events. The industry is nowadays often also referred to as the meeting industry and event industry, to avoid the affiliation with rodents. [...]

What is the meaning / definition of OTA Merchant Model in the hospitality industry? In hotel revenue management when talking about a Merchant Model, we are referring to the commercial model of an OTA (online travel agency). The main characteristic of a Merchant Model OTA is that the guest pays the OTA at the time of booking a room, and [...]