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
LCR - Local Company Rate

What is the meaning / definition of Local Company Rate in the hospitality industry?

LCR is short for Local Company Rate.

Hotels sometimes agree a special rate with a local company, as that can be good for business in both the short and long term.

Synonyms: LCR, Local Company Rate
Lead Time Restriction

What is the meaning / definition of Lead Time Restriction in the hospitality industry?

At a hotel, the time taken between when a customer makes a reservation and their actual arrival is called the Lead Time. Sometimes this time period has to be restricted.

Lifestyle Hotel

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

Similar to a boutique or a luxury hotel, a Lifestyle Hotel is not a ‘proper hotel category’ but can be defined through specific characteristics. Those characteristics are similar to a boutique hotel. They are both unique in their character and very distinctive. The attributes associated with a Lifestyle Hotel are: quirky, cutting-edge, avant-garde, trendy, funky, charming.

Limited Service Hotel

What is the meaning / definition of Limited Service Hotel?

The term limited service hotel, is used to describe budget-friendly hotels that offer accommodation without a food and beverage component like a restaurant.

These hotels may have amenities such as business centre, fitness room, pool, guest laundry facilities or more. Areas where a guest may eat or cook their own meals are BBQ areas, communal kitchens or near-by restaurants.

Lodging

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

The term lodging describes a wide range of accommodation types which provide shelter or a place to stay overnight. It is used to describe locations away from home and the quality of the place can vary from a small island hut or a tent to a five star all inclusive resort.

Synonyms: Accommodation
LOS - Length of Stay

What is the meaning / definition of Length of Stay in the hospitality industry?

LOS stands for Length of Stay. Figure derived by dividing the number of room nights by the number of bookings.

When it comes to revenue management, LOS is an important criteria. It can help enormously with the organising and optimisation of occupancy within a hotel.

There a different types of LOS, in fact.

Synonyms: Length of Stay
LRA - Last Room Availability

What is the meaning / definition of Last Room Availability (LRA) in the hospitality industry?

LRA is short for Last Room Availability. At the contracted rate, an agent can book the last room a hotel has available, by right. Some people may be surprised by this, thinking that a hotel has complete control over room booking decisions at their premises, at all times. But, because of LRA, this is not necessarily always the case!

Synonyms: LRA, Last Room Availability
Luxury Hotel

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

A Luxury Hotel is considered a hotel which provides a luxurious accommodation experience to the guest. There are no set standards (such as stars) for luxury hotels. Often 4 or 5 star hotels describe themselves as ‘luxury’.

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