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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 [...]

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 [...]

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 [...]

What is the meaning / definition of Flash Sales in the hospitality industry? Flash Sales are highly discounted and time-limited sale promotions. Hotels usually use this way of discounted sales to sell an unsold inventory. Selling those ‘hot deals’ is an opportunity for underperforming hotels to generate growth. Flash sales can [...]

What is the meaning / definition of Flagship Hotel? A Flagship Hotel is a hotel chains most prized hotel. It is often the chain’s main hotel, or largest hotel in a country. Many hotel chains have a flagship hotel in each country their hotels are present in. Since the flagship hotel [...]

What is the meaning / definition of Fit-Out in the hospitality industry? The term ‘Fit out’ is used in the hospitality industry to refer to the process of preparing an interior space for the guests and customers. This includes the planning, choosing and fitting of the interior. Everything down from the [...]

What is the meaning / definition of Furniture, Fixtures, and Equipment in the hospitality industry? FFE stands for Furniture, Fixtures, or other Equipment that has no permanent connection to the structure of the building. It is an accounting term used in valuing, selling, or liquidating a company or building. When valuing [...]

What is the meaning / definition of Fenced Rate in the hospitality industry? The term Fenced Rate refers to reservations that offer certain benefits for bookers: under some conditions and requirements. Lots of variables can determine a hotel’s room rates for rooms. When segmented into Fenced Rates, the process of rate-setting [...]

What is the meaning / definition of Feeder City in the hospitality industry? The term Feeder City refers to cities of origin which feed travelers to hubs or gateway cities. Basically it is to determine where does the tourism come from. Usually defined in international arrivals (overnight visitor) and/or in visitor [...]