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 Camping in the hospitality industry?
Camping is a term originally used to describe the activity of staying overnight in a tent. Generally camping takes place in the outdoors in remote locations away from general civilisation. Since its humble beginning in the 19th century camping has evolved to also incorporate other forms of overnight stays, besides nights spent in a tent
Today camping can describe the activity of staying in a tent, bungalow, camper vans, glamping tents and camping pods etc. on a campsite.
It can thereby vary greatly in preparation. Some survival campers set out with the least possible equipment to challenge themselves to survive in "the wild". While other campers come prepared with gas, electricity, heating, warm showers television and internet.
|Capex - Capital Expenditure||
What is the meaning / definition of Capital Expenditure in the hospitality industry?
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 is meant for capital expenditures. It should thereby help prepare the company for any unforeseen events like inflation, instability, need to expand the business or to get into a new and urgent project.
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 cash cycle. Thereby allowing operations departments to act and purchase more flexibly.
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. Opposite of an independent hotel it is a ‘chain-affiliated’ hotel.
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 Close Out in the hospitality industry?
Hotel rooms made unavailable from sales. Such a closed out could be for a variety of reasons and applied to individual market segments.
What is the meaning / definition of Comfort Letter in the hospitality industry?
A Comfort Letter is a document prepared by a bank, an accounting firm or an audit firm confirming the legitimacy and soundness of a company's finances.
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 Comp Set in the hospitality industry?
What is the meaning / definition of Complimentary in the hospitality industry?
Complimentary 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.
|Country House Hotel||
What is the meaning / definition of Country House Hotel in the hospitality industry?
Country house hotels is a term used to describe a specific type of accommodation in the hospitality industry. As the name states a country house hotel, is a hotel located in the country side, which appears more as a home than as a hotel. Country house hotels thereby differentiate themselves from ordinary hotels by providing a more local and intimate experience. Being located in a non-generic building can remind guest more of a being in a home than a hotel. This type of accommodation allows guest to experience a country from a more local perspective.