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.
|DBA - Days Before Arrival|
What is the meaning /definition of Demand in the hospitality industry?
By Demand, we mean the level of consumer interest and need: demand for beds, demand for family rooms, demand for conferencing, event space, rentable scuba diving gear...
|Demand Based Pricing||
What is the meaning / definition of Demand-Based Pricing in the hospitality industry?
In the Hospitality Industry, prices for services do not have to be permanently set. They can be adjusted, depending upon how many rooms, meals, etc. are needed by customers at any a particular time. This is what Demand-Based Pricing is all about – the price of something changes depending upon how much demand there is for it at a given time.
What is the meaning / definition of Demand Generators in the hospitality industry?
In hospitality, meeting demand for goods and services is not only about meeting customers' needs, whenever required; sometimes, a hotel or other type of hospitality business can create demand.
What is the meaning / definition of Denial in the hospitality industry?
Well, it is quite simple. When a hotel cannot accommodate more guests, because it is fully booked at that time, then their response to the potential customers' request is called a Denial.
What is the meaning / definition of Design Hotel in the hospitality industry?
Design Hotel is as the name implies hotel that is notable for its design. It is focused on the visual concept, on its architecture, on interior decoration, on aesthetics style and décor. The appearance is the main appeal of a Design Hotel and the aim is to evoce a ‘wow’ feeling in the (potential) guest.
What is the meaning / definition of Direct Connect in the hospitality industry?
Direct Connect is a synonyms of Interface. A point where two systems or organizations, meet and interact.
In the tourism/hospitality industry Direct Connect is a technological connection that interchanges and synchronises data across multiple distribution channels, such as between a Hotel CRS (or PMS) and OTAs.
|Direct Connect Availability||
What is the meaning / definition of DCA in the hospitality industry?
DCA stands for: Direct Connect Availability.
What is the meaning / definition of Displacement Analysis in the hospitality industry?
For a hotel, the idea of making money through accepting group business bookings sounds like a good idea – an obvious thing to do.
But is that really always the case?
The answer is No!
Sometimes it would be prudent to deny a group booking in favour of leaving rooms available to transient (non-business) customers and walk-in guests. The method used to make this judgement is called Displacement Analysis.
What is the meaning / definition of Distressed Inventory in the hospitality industry?
Distressed inventory is used in hotels to refer to rooms that are not expected to be sold at full price. For these rooms, hotels often significantly reduce prices to encourage consumers to book last-minute and to avoid their rooms going unoccupied.
What is the meaning / definition of Distribution Strategy in the hospitality industry?
Distribution Strategy determines when and through which channels to sell hotel rooms based upon an analysis of the costs of acquisition of the individual channel.
All of the costs of acquisition of each individual channel will be considered and calculated before the hotel finalise the list of channel distribution they will be using.
What is the meaning / definition of Dynamic Packaging in the hospitality industry?
Dynamic Packaging is a method of creating deals or packages based upon the components selected by the customer.
This method combines inventory (rates and availability) from multiple sources e.g., hotels, rental cars and flights in one online application. It allows the customers to create and book a customized itinerary resulting in a higher flexibility compared to pre-packaged holidays.
What is the meaning / definition of Dynamic Pricing in the hospitality industry?
Successful hotels around the world aim for optimum profitability at all times. There are lots of things a hotel can do towards achieving this. One is for the Revenue Management Team to make Dynamic Pricing part of their overall strategy. Consortia/negotiated rates are no longer fixed (in some cases).