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
Valuation

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

The term Valuation describes the process of assessing a company's or asset's economical worth. This is done by evaluating the structure of capital, market value of assets and prospects of future earnings. Often Valuations are required when a business owner wants to prepare their company for sale, ensure financial viability towards potential investors or to establish value of shares. Valuations are often done by accountants, asset managers, certified valuers, business advisors, real estate agents or merger and acquisitions specialists.

Variable Pricing

What is the meaning / definition of Variable Pricing in the hospitality industry?

The term Variable Pricing refers to cases in which a business offers a variety of price points throughout different locations, point-of-sale at different times. Variable pricing focusses on finding the optimal balance in between the volume of sales and the income of per unit sold - based on a number of factors. Hotels routinely vary prices in response to forecasted demand. When demand is high, or when future sales are brisk, prices are high. During off-peak seasons, demand is low - prices therefore too.

The reason behind variable pricing, lies in customers perception of value. The perception of value, is influenced by many external factors. Within hotel industry, days such as Christmas and national holidays are generally of higher demand, which is reflected in the price. As value is perceived at different levels, prices vary accordingly. Variable pricing can also create the perception that a hotel room is of more value and actually leads to enhancing the customers’ perceptions of its worth. This results in some consumers paying very high prices while others are may get a deal.

Voice

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

The term Voice represents all kind of reservations of a hotel where the voice is used to make a booking. This is usually phone reservations, call centres and CROs.

Vouchers

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

Voucher is a ‘coupon’ given to a guest for a specific prepaid service (accommodation in a hotel) handheld out by a travel agency. As a form of a ‘receipt’ the traveler can then claim the service he paid for.

Synonyms: Vouchers, bono
Vouchers

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

Voucher is a ‘coupon’ given to a guest for a specific prepaid service (accommodation in a hotel) handheld out by a travel agency. As a form of a ‘receipt’ the traveler can then claim the service he paid for.

Synonyms: Vouchers

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