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 Packaging, in the hospitality industry?
Packaging is a common marketing strategy that involves offering several products for sale together. The price is usually bundled together so there is no transparence to the individual rates of the separate products.
|PCC - Pseudo City Code|
What is the meaning / definition of Pegasus, in the hospitality industry?
Pegasus (or Pegasus Solutions) is the largest processor for electronic hotel transactions and offers distribution services to about 100.000 hotels worldwide.
|PMS - Property Management System||
What is the meaning / definition of PMS, in the hospitality industry?
PMS stands for: Property Management System. It is a local hotel administration system used for reservation, availability and occupancy management, check-in/out, images, guest profiles, report generation etc. This application is used in-house (in an individual hotel) to control the onsite property activities.
|PNR - Passenger Name Record||
What is the meaning / definition of PNR, in the hospitality industry?
PNR stands for: Passenger Name Record. It is commonly used in the travel industry and it’s basically a ‘file’ in the database of the system (GDS or CRS/ PMS) which contains information about a passenger (or a group of passengers traveling together) and his travel plans (flight itinerary, hotel booking segments, car rental bookings, etc.).
|Price Match Guarantee||
What is the meaning / definition of Price Match Guarantee (PMG) in the hospitality industry?
PMG is short for Price Match Guarantee. It is something that all hotels seeking to seriously compete should consider offering. What's more, consumers love it! Why? Because they can make reservations knowing that they are getting rooms and perhaps other services without paying more than absolutely necessary.
|Private Label Chain Code||
What is the meaning / definition of Private Label Chain Code, in the hospitality industry?
Private Label Chain Code is a 2-letter code, which is used mainly by the GDS to identify chain operated hotels. Similar to a 3-letter code used in the aviation to identify airports, many hotel chains and hotel groups have their own Private Label Chain Code.
What is the meaning / definition of Property in the hospitality industry?
Property is such a general term, isn't it? Domestic property, commercial property, property for sale, rented property, lost property!