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.
|ARI - Average Rate Index||
What is the meaning / definition of ARI in the hospitality industry?
ARI stands for: Average Rate Index.
It is a Hotel KPI that measures the performance of their ADR compared to their comp set during the same period (competitive set: a group of other hotel brands and competitor that have a similar target market and concept).
|ARR - Average Room Rate||
What is the meaning / definition of ARR in the hospitality industry?
ARR stands for: Average Room Rate.
It is a hotel KPI which measures the average rate per available room - similarly to ADR.
What is the meaning / definition of Asset Management in the hospitality industry?
Asset Management is the systematic process of developing, operating, maintaining, upgrading and disposing of assets cost-effectively. An asset is any resource owned by a business.
|ATR - Average Treatment Rate||
What is the meaning / definition of ATR in the hospitality industry?
ATR stands for: Average Treatment Rate
This ATR formula is mainly used for Spa Operations (either independently or within a hotel). It calculates the average rate and it is varied on different treatment packages as well as on the demand / occupancy of the spa booking rate.
What is the meaning / definition of Auction Site in the hospitality industry?
What is the meaning / definition of Availability in the hospitality industry?
Availability is the amount of rooms at the hotel open for sales for a specific set of dates and / or type of accommodation.
|BAR - Best Available Rate||
What is the meaning / definition of Best Available Rate in the hospitality industry?
BAR stands for Best Available Rate which is the lowest rate of the day that is available for guests to book. The BAR rates are available to the general public, does not require pre-payment and does not impose cancellation or change penalties and/or fees, other than those imposed as a result of a hotel property's normal cancellation policy.
|BAR Pricing Strategy||
What is the meaning / definition of BAR Pricing Strategy?
A BAR Pricing Strategy is a revenue management strategy, based on the Best Available Rate. It is also called a fixed tiers approach because, you are going to fix your BAR, meaning the lowest price available in your hotel and set the other rates according to it. For example, your BAR is set at 100 euros. Your reward program rate will be 50% off the BAR and your OTA price, 30% off the BAR.
What is the meaning / definition of Beach Resort in the hospitality industry?
A Beach Resort is a full service holiday lodging facility, located at the seaside, with access to a private beach. The beach being the primary focus for tourists. A Beach Resort offers a wide range of services and amenities and typically includes entertainment and recreational activities.
What is the meaning / definition of Booking in the hospitality industry?
Booking is an act of reserving an accommodation, a table, a seat, a flight, a trip etc. in advance.
What is the meaning / definition of Booking Curve in the hospitality industry?
Booking Curve is a tool that can visually show how bookings materialise over a certain period in time. It includes data like room pickup, bookings and availability.
What is the meaning / definition of Pace in the hospitality industry?
In most industries, speed is of the essence! Hospitality is no different. Pace – the rate at which reservations are made for a particular date – is important to control and also to monitor. Why? Because if you can see a pattern forming as reservations build for a certain date, weekend, week or even an entire month each year, this can be immensely helpful when it comes to forecasting: trying to accurately foresee and calculate projected demand and therefore revenue in future years. A hotel can pre-empt a swell of interest (i.e. a noticeable rise in bookings) towards a particular forthcoming date, and manage their finances and other areas of business accordingly, with the ultimate aim of maximising revenue.
What is the meaning/definition of Booking Window in the hospitality industry?
Booking window is similar to Lead Time. It’s the period of time between the reservation is made by the guests or a group and the actual arrival date to the hotel.
What is the meaning / definition of Boutique Hotel in the hospitality industry?
A Boutique Hotel is a small and intimate hotel, helt in a stylish design decor with a personal note. It has a unique character and distinguishes itself from other hotel brands. It it true to its heritage, it provides guests with great and ultra-personalized service and is typically situated in a fashionable urban location.
|BRG - Best Rate Guarantee||
What is the meaning / definition of BRG in the hospitality industry?
BRG stands for Best Rate Guarantee.
The hotel makes a promise that the room prices found on their website are the best rates compared to other any other sites.