Pegasus Switch

What is the meaning / definition of Pegasus Switch, in the hospitality industry? Pegasus (or Pegasus Solutions) is the largest processor for electronic hotel transactions and offers distribution services to about 100.000 hotels worldwide. It offers an advanced distribution service called โ€˜seamless connectivityโ€™. Its function is the connection between the hotels [...]

Property

What is the meaning / definition of Property in the hospitality industry? Property is such a general term, isnโ€™t it? Domestic property, commercial property, property for sale, rented property, lost property! In Hospitality, property usually means commercial premises โ€“ hotel buildings, basically: the hotels, motels, lodges, cabins, chalets, luxury apartments and [...]

PROFPAR – Profit Per Available Room

What is the definition of PROFPAR in the hospitality industry? PROFPAR stands for: Profit Per Available Room PROFPAR is a KPI calculation of profit earnings for each room available in the hotel. PROFPAR is based on operating profit, which accounts for movements in both revenues and expenses. In comparison and not [...]

Private Label Chain Code

What is the meaning / definition of Private Label Chain Code, in the hospitality industry? Private Label Chain Code is a 2-letter code, which is used mainly by the GDS to identify chain operated hotels. Similar to a 3-letter code used in the aviation to identify airports, many hotel chains and [...]

Private Rate

What is the meaning / definition of Private Rate in the hospitality industry? A type of discount hotel rate that is negotiated with a travel agency and vendors and then sold to the public. The rate is discounted to allow the vendors and travel agents to generate a profit from the [...]

Pricing Strategy

What is the meaning / definition of Pricing Strategy in the hospitality industry? Price is the value that is put to a product or service and is the result of a complex set of calculations, research and understanding and risk taking ability. A pricing strategy takes into account segments, ability to [...]

Price Positioning

What is the meaning / definition of Price Positioning in the hospitality industry? The term price positioning, describes the process of adapting your price towards the position you want your products and services to represent in the market. It is a marketing strategy in which you attempt to create a โ€œpositionโ€ [...]

PMG – Price Match Guarantee

What is the meaning / definition of Price Match Guarantee (PMG) in the hospitality industry? PMG is short for Price Match Guarantee. It is something that all hotels seeking to seriously compete should consider offering. Whatโ€™s more, consumers love it! Why? Because they can make reservations knowing that they are getting [...]

Price Lining

What is the meaning / definition of Price Lining in the hospitality industry? The term Price Lining, is used to describe a marketing/ pricing strategy, whereby a business prices its products according to quality, features and attributes in order to differentiate them from similar products. By doing so the company makes [...]

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