Hotel Revenue Management Glossary
Need to know what a hotel term means? Look it up in the Xotels Glossary. We explain definitions of terminology industry lingo from hotel revenue management, ecommerce, marketing and distribution.
What is the meaning / definition of Channel Management in the hospitality industry?
What is the meaning / definition of Channels in the hospitality industry?
A term that refers to Distribution Channels and that describes the different methods / platforms buy which / in which bookings for a hotel are made. A Channel can be a hotel’s booking engine a direct phone reservation or a specific stream of revenue such as a 3rd party website, an OTA, etc.
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.
|Comp Set - Competitive Set|
What is the meaning / definition of Complementary in the hospitality industry?
Complementary services or products are those given to an audience / a customer without charge. This term is often used in the tourism and hospitality industry.
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.
|CPOR - Cost per Occupied Room|
|CRO - Central Reservations Office||
What is the meaning / definition of CRO in the hospitality industry?
CRO stands for: Central Reservations Office.
It is a system that allows reservation agents to receive reservation requests by phone and to handle them immediately.
|CRS - Central Reservations System||
What is the meaning / definition of CRS in the hotel industry?
CRS stands for: Central Reservations System. It is a computerized reservation software used to maintain the hotel information, room inventory and rates, to manage the reservation and process. A CRS provides hotel room rates and availability for many different distribution channels such as the GDS, IBE, OTA, 3rd party websites etc.
|CTA - Closed to Arrival|
|CTD - Closed to Departure|
What is the meaning / definition of Cut Off in the hospitality industry?
With cut-offs (which are very similar to release dates), a hotel simply sets a time limit upon when a reservation is made, and the guest's actual arrival. Used a lot for group and tour operator business. They will hold a block or allotment in the hotel as per their contract.
They need to submit reservations before a certain date, the cut-off date, otherwise the rooms will be released back into the general inventory for the hotel to sell via other channels.