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 GDS Marketing in the hospitality industry?
What is the meaning / definition of GBTA in the hospitality industry?
GBTA stands for: Global Business Travel Association. It is the world’s leading business travel and meetings organization. Basically a Hub / Forum for Business Travel. It brings together leaders in the business travel industry to exchange information and ideas among members.
What is the meaning / definition of Galileo in the hospitality industry?
GDS serves not only travel agents but also many different companies including airlines, ground handlers, hotels, railways, car rental companies, airports, cruise lines and ferry operators.
What is the meaning / definition of Forecast in the hospitality industry?
Any hotel seeking to maximise profits, should look ahead and try to predict a future situation. One way to do this in an organised manner, is to create something called a Forecast. Forecasting can be done at any time of year, by any kind of establishment in the hospitality sector (not only large hotels but also small, independent hotels) across the world.
The best way to Forecast future bookings and demand is to use a calculation – to ask a relatively simple question: 'At our hotel, what is the likely expected revenue in 2016, based on our revenue management team's analysis of figures from 2015 (occupancy and average rate)?'
|FOC - Free of charge||
What is the meaning / definition of FOC in the hospitality industry?
FOC stands for: Free of charge.
What is the meaning / definition of Flash Sales in the hospitality industry?
Flash Sales are highly discounted and time-limited sale promotions. Hotels usually use this way of discounted sales to sell an unsold inventory. Selling those ‘hot deals’ is an opportunity for underperforming hotels to generate growth.
What is the meaning / definition of Fenced Rate in the hospitality industry?
The term Fenced Rate refers to reservations that offer certain benefits for bookers: under some conditions and requirements.
What is the meaning / definition of Feeder City in the hospitality industry?
The term Feeder City refers to cities of origin which feed travelers to hubs or gateway cities. Basically it is to determine where does the tourism come from.
What is the meaning / definition of FAM Trip in the hospitality industry?
The term FAM stands for Familiarization. The Tours - commonly known as FAM Trips - are trips organized by travel providers (can be a Tour Operator, an Airline, a Hotel Chain, a Tourism Board or other DMOs representing a Destination, etc.) with the purpose of educating about their products & services and promoting them.
|Fair Market Share||
What is the meaning/definition of Fair Market Share in the hospitality industry?
Fair Market Share is an indication that a hotel’s overall performance stacks up against its immediate competitors.
A hotel within a competitive set can work out if it’s getting its Fair Market Share through a simple calculation:
What is the meaning / definition of Extranet in the hospitality industry?
An Extranet is a website that allows controlled access to partners, vendors and suppliers or an authorized set of customers. In other words it is a channel which can be administered externally via a login into the system.
|ED - Electronic Distribution||
What is the meaning / definition of ED in the hospitality industry?
What is the meaning / definition of EBITDA in the hospitality industry?
EBITDA stands for : Earnings Before Interest, Taxes, Depreciation and Amortization.
This KPI is used to determine how profitable a company or business is with regard to its operations (the profit on the products it produces and sells).
|Early Bird Discount||
What is the meaning/definition of Early Bird Discount in the hospitality industry?
Hotels can increase advanced bookings by offering something called an Early Bird Discount. This is a type of promotion that many hotels across the world use to increase revenue.