Hotel Revenue & Management Blog

What is the meaning / definition of Interface in the hospitality industry? Interface is the crossing point or technical connection between different IT systems. In other words it is the direct communication/ connection between two (or more) networks/ applications/ systems that can be interlinked together without any intermediary. In the hospitality industry it often refers to a connection between a PMS/ [...]

What is the meaning / definition of Independent Hotel in the hospitality industry? An Independent Hotel is a hotel that is independently owned and run. It doesn’t allow any other proprietors to use its name / brand. Basically, all of the hotels which are not related to a hotel chain are considered ‘independent’. They might sign up to so-called ‘voluntary [...]

What is the meaning / definition of Incentive Fee in the hospitality industry? The term Incentive Fee is used to describe a fee that incurs to an investor when his/her fund manager is able to establish returns, above a suggested benchmark initially established. Incentive Fees are set to encourage fund managers to strive for higher returns. While higher returns may [...]