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.

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Term Definition
IATA - International Air Transport Association

What is the meaning / definition of IATA in the hospitality industry?

IATA stands for: International Air Transport Association. It is a trade association of airline companies which operates international services and establishes standard practices.

Synonyms: International Air Transport Association, IATA
IDS - Internet Distribution System

What is the meaning / definition of IDS in the hospitality industry?

IDS stands for: Internet Distribution System.
This term is generally used to express the hotels distribution via Internet, Intranets, Extranets and other online services.

Synonyms: Internet Distribution System, IDS
Incentive Fee

What is the meaning / definition of Incentive Fee in the hospitality industry?

The term Incentive Fee is used to describe a fee that incurs to an investor when his/her fund manager is able to establish returns, above a suggested benchmark initially established. Incentive Fees are set to encourage fund managers to strive for higher returns. While higher returns may be one positive aspect incurring from the Incentive Fee, the fee also encourages rather risky investments. The issue here is that often the fund managers are not held responsible for the losses, only for the gains. This may therefore lead to investments which aren't fully in line with the investors best interests.

Synonyms: Performance Fee
Independent Hotel

What is the meaning / definition of Independent Hotel in the hospitality industry?

An Independent Hotel is a hotel that is independently owned and run. It doesn’t allow any other proprietors to use its name / brand.

Interface

What is the meaning / definition of Interface in the hospitality industry?

Interface is the crossing point or technical connection between different IT systems. In other words it is the direct communication/ connection between two (or more) networks/ applications/ systems that can be interlinked together without any intermediary.

Inventory

What is the meaning / definition of Inventory in the hospitality industry?

The number of rooms available for a hotel to sell or distribute across all channels is called an Inventory.

IRR - Internal Rate of Return

What is the meaning / definition of Internal Rate of Return in the hospitality industry?

IRR stands for: Internal Rate of Return.

The Internal Rate of Return is a financial indicator, used to determine the attractiveness of an investment or project. It can be defined as the percentage rate earned on each dollar invested, in a defined period of time. It compares expected cash flow of a project to the cost of the capital involved.

Synonyms: IRR, Internal Rate of Return

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