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 Margin in the hospitality industry?
What is the meaning / definition of Markup in the hospitality industry?
Within revenue management in the hotel industry Markup is used to refer to the amount an OTA increases your net room rate, to set the sell rate.
|MaxLos - Maximum Length of Stay||
At a hotel, sometimes the number of nights an individual guest, couple or family can stay has to be limited, even if the hotel is intensely focused upon maximising revenue! This can apply to a group booking, too, particularly if arrival is planned for a certain date and where a group booking discount has been offered and availed of.
What is the meaning / definition of OTA Merchant Model in the hospitality industry?
In hotel revenue management when talking about a Merchant Model, we are referring to the commercial model of an OTA (online travel agency). The main characteristic of a Merchant Model OTA is that the guest pays the OTA at the time of booking a room, and the OTA afterwards pays the hotel when the actual stay occurs.
|MinLOS - Minimum Length of Stay||
At hotels, the number of nights a guest can stay is not necessarily always up to the paying customer, even if they have lots of money to spend on both rooms and in-house serves, such as food, beverages and recreational activities! Often, a hotel will seek to control the number of nights an individual, couple, family or group book in for, for various reasons.
|MPI - Market Penetration Index||
What is the meaning / definition of MPI in the hospitality industry?
MPI stands for: Market Penetration Index