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What is the meaning / definition of Consortia in the hospitality industry? Consortia are Associations or Marketing organizations which link together small to medium sized independent travel agencies to leverage purchasing power and marketing opportunities. Examples of Consortia are American Express, Carlson Wagonlit, BCD Travel or HRG. The consortia rate is [...]

What is the meaning / definition of Conference Sales Manager in the hospitality industry? A conference sales manager is a manager at a hotel, who is in charge of advertising and selling events at the hotel’s conference. The conference sales manager’s duty is to sell available space to interested parties. As [...]

What is the meaning / definition of Conference / Convention Hotel in the hospitality industry? A conference or convention hotel is a type of accommodation, specialised in hosting the MICE traveller segment. The hotels are mostly strategically located near convention / conference centres, or if not located in the vicinity the [...]

What is the meaning / definition of CompSet in the hospitality industry? A Competitive Set (or CompSet) is a group of hotels that are seen as direct competitors to your own hotel. Hotels will often compare their performance against Compset hotels, in order to find ways to make their own offering [...]

What is the meaning / definition of Complimentary in the hospitality industry? Complimentary services or products are those given to an audience / a customer without charge. This term is often used in the tourism and hospitality industry. Examples: Complimentary bottle of water in your room, free Wifi, complimentary room service, [...]

What is the meaning / definition of Competition Based Pricing in the hospitality industry? The term competition based pricing, also known as competitive pricing refers to the process of a company pricing its product/ service (in hotels rooms, food & beverages) according to the competitors. Competition Based pricing should be part [...]

What is the meaning / definition of Commission in the hospitality industry? Commission is a charge that a hotel pays to third parties (travel agents, OTAs) for selling their hotel rooms. It is usually a fix percentage of the room rate. The commission ranges from 10% to 30% depending of the [...]

What is the meaning / definition of Comfort Letter in the hospitality industry? A Comfort Letter is a document prepared by a bank, an accounting firm or an audit firm confirming the legitimacy and soundness of a company’s finances.

What is the meaning / definition of Children Policy in the hospitality industry? The term children’s policy, refers to the terms that exist for children on the hotels premises. Every hotel or hotel chain generally has their own policy, depending on the facilities it offers and who its target market is, [...]