V

Virtual Hotel Operators / Chains (or VHO in short) offer independent hotels the opportunity to benefit from international exposure and management expertise brought in by the VHO´s umbrella branding without sacrificing their own identity and service quality. On the contrary, choosing the right VHO will result in higher performance across the [...]

What is the meaning / definition of Vouchers in the hospitality industry? Voucher is a ‘coupon’ given to a guest for a specific prepaid service (accommodation in a hotel) handheld out by a travel agency. As a form of a ‘receipt’ the traveler can then claim the service he paid for. [...]

What is the meaning / definition of Voice in the hospitality industry? The term Voice represents all kind of reservations of a hotel where the voice is used to make a booking. This is usually phone reservations, call centres and CROs. The importance of voice reservations as a distribution channel is [...]

What is the meaning / definition of Variable Pricing in the hospitality industry? The term Variable Pricing refers to cases in which a business offers a variety of price points throughout different locations, point-of-sale at different times. Variable pricing focusses on finding the optimal balance in between the volume of sales [...]

What is the meaning / definition of Valuation in the hospitality industry? The term Valuation describes the process of assessing a company’s or asset’s economical worth. This is done by evaluating the structure of capital, market value of assets and prospects of future earnings. Often Valuations are required when a business [...]

What is the meaning / definition of Vacation Rental in the hospitality industry? A vacation rental is the renting out of a furnished apartment, house, or professionally managed resort-condominium complex on a temporary basis to tourists as an alternative to a hotel. AirBnB is currently the most famous example for the [...]