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 HCD in the hospitality industry?
HCD stands for: Hotel Content Database. HCD, formerly (ODD - Online Distribution Database), is a content database service offered by Pegasus Solutions. It includes text, images, geocoding, contact information etc. from the hotels in multiple languages.
|Heads in Beds||
What is the meaning / definition of Heads in Beds in the hospitality industry?
Of course, any hotel's aim is to maximise profits. The best way to do this is to make as many bookings as possible. When discussing the level of occupancy of hotel rooms, staff will often use the term: Heads in Beds. This may sound a bit strange, but it is true!
What is the meaning / definition of HEDNA in the hospitality industry?
HEDNA stands for: Hotel Electronic Distribution Network Association. The non-for-profit organisation, founded in 1991, is dedicated to the advancement of hospitality distribution through strategic collaboration and knowledge sharing.
What is the meaning / definition of Hotel Franchise in the hospitality industry?
A Franchise is the right to use the brand and the business model of a specific parent company for a prescribed period of time. It is a method for expanding a business and distributing products and services through a licensing relationship.
What is the meaning / definition of Hotel Group in the hospitality industry?
A Hotel Group can be either a Hotel Chain or a Hotel Franchise. It means that the hotels of that particular group are under the same management and belong to the same brand of hotels.
|Hotel Market Intelligence||
What is the meaning / definition of Hotel Market Intelligence in the hospitality industry?
The global hotel industry is MASSIVE. Keeping track of changes, developments and in-market trends is not something that can be achieved in a disorganised manner, therefore. To always remain abreast of market fluctuations, hoteliers need to carefully and thoroughly gather intelligence. This is where Hotel Market Intelligence comes in!
|Hotel Market Segments||
What is the meaning / definition of Hotel Market Segments in the hospitality industry?
Not all customers are the same. Although, of course, all guests must receive the same high standard of service at a hotel or other kind of facility within the Hospitality Sector, there are definitely different types of customers. And offering them a hospitality experience that entirely meets their particular type and exact needs is the key to a providing an enjoyable hotel stay, where satisfaction is virtually guaranteed.
|Hotel Market Share||
What is the meaning / definition of Hotel Market Share in the hospitality industry?
In the Hospitality Industry, all hotels should strive to capture maximum revenue at all times. And, sometimes, comparing revenue levels with other hotels can provide a valuable insight. This can help to establish a hotel’s Market Share: the percentage of business it is getting within the hotel market overall.