Hotel Revenue & Management Blog

What is the meaning / definition of FOC in the hospitality industry? FOC stands for: Free of Charge. It is often used in the travel industry to describe (additional) services for which the client does not have to pay for. An upgrade into a higher room category is often FOC: For promotional purposes As added value In line with complaint [...]

What is the meaning / definition of Floatels? The term Floatel, combines the word Float and Hotel and describes a hotel that is floating or above water that is usually permanent, contrary to a cruise ship or boat. Sometimes also spelt Flotel, the term refers to luxury or boutique hotels on rivers, lakes, harbours and oceans. They can be located [...]

What is the meaning / definition of Flexible Price Policy in the hospitality industry? Flexible pricing is the practice of pricing a product or service by negotiations between buyers and sellers, within a certain range. It is one of many different pricing strategies used by management to stimulate demand. When done correctly – companies are able to sell their products [...]