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What is the meaning / definition of Channel Management in the hospitality industry? Channel Management (also Multi-Channel-Management) refers to the techniques and systems used by hotels in line with their distribution policy. This management method includes content management as well as data reconciliation in various distribution channels. It means the updating [...]

What is the meaning / definition of Chain Hotel in the hospitality industry? A Chain Hotel is a hotel that is part of a series or of a group of hotels operated by the same company or owner. The opposite of an independent hotel is a ‘chain affiliated hotel´(an exception to [...]

What is the meaning / definition of Chain Code in the hospitality industry? Chain Code is a two-character code used to identify hotel chains within a GDS. Chain codes may vary by GDS. See also: Amadeus Apollo Galileo Synonyms: Chain Code

What is the meaning / definition of Cash Management in the hospitality industry? The term Cash Management describes the field of management that concerns itself with the collecting, managing and investing of cash. Cash Management is highly important in hospitality due to its ability to improve cash flow and shortening the [...]

What is the meaning / definition of Capsule Hotel? A hotel that provides accommodation in form of a small clear capsule rooms, which are as large as a single bed. These hotels originated in Japan in the core business districts. They were originally meant for business professionals to sleep close to [...]

What is the meaning / definition of Capital Reserve in the hospitality industry? The term Capital Reserve refers to an account on a balance sheet containing capital reserved for specific circumstances. Any profit that arises in a company in special circumstances is called Capital Reserve. The capital in the Capital Reserve [...]

What is the meaning / definition of Capital Expenditure in the hospitality industry? Capital Expenditure, also known as Capex, refers to all capital improvement costs of owning hotels over an asset’s life span, including such capital costs that prolong the economic life of the asset. Capex thereby includes all money spent [...]

What is the meaning / definition of Cancellation Clause in the hospitality industry? The term cancellation clause refers to the terms mentioned in the hotel booking contract, in which the hotel states under which terms a cancellation can occur. The kind of cancellation clause differs depending on if 1.) only one/multiple [...]

What is the meaning / definition of Cancellation Rate in the hospitality industry? Cancellation Rate, often displayed as a percentage, highlight the rate at which a hotel has its bookings cancelled. Hoteliers should be inclined to keep their Cancellation Rate as low as possible. Its an important rate to consider as [...]