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