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.
|Capex - Capital Expenditure||
What is the meaning / definition of Capital Expenditure in the hospitality industry?
What is the meaning / definition of Capital Reserve in the hospitality industry?
The term Capital Reserve refers to an account on a balance sheet containing capital reserved for specific circumstances. Any profit that arises in a company in special circumstances is called Capital Reserve. The capital in the Capital Reserve is meant for capital expenditures. It should thereby help prepare the company for any unforeseen events like inflation, instability, need to expand the business or to get into a new and urgent project.
What is the meaning / definition of Cash Management in the hospitality industry?
The term Cash Management describes the field of management that concerns itself with the collecting, managing and investing of cash. Cash Management is highly important in hospitality due to its ability to improve cash flow and shortening the cash cycle. Thereby allowing operations departments to act and purchase more flexibly.
What is the meaning / definition of Chain Hotel in the hospitality industry?
A Chain Hotel is a hotel that is part of a series or of a group of hotels operated by the same company or owner. Opposite of an independent hotel it is a ‘chain-affiliated’ hotel.
What is the meaning / definition of Channel Management in the hospitality industry?
What is the meaning / definition of Channels in the hospitality industry?
A term that refers to Distribution Channels and that describes the different methods / platforms buy which / in which bookings for a hotel are made. A Channel can be a hotel’s booking engine, a direct phone reservation or a specific stream of revenue such as a 3rd party website, an OTA, etc.
What is the meaning / definition of Close Out in the hospitality industry?
Hotel rooms made unavailable from sales. Such a closed out could be for a variety of reasons and applied to individual market segments.
What is the meaning / definition of Comfort Letter in the hospitality industry?
A Comfort Letter is a document prepared by a bank, an accounting firm or an audit firm confirming the legitimacy and soundness of a company's finances.
What is the meaning / definition of Commission in the hospitality industry?
Commission is a charge that a hotel pays to third parties (travel agents, OTAs) for selling their hotel rooms. It is usually a fix percentage of the room rate.
|Comp Set - Competitive Set||
What is the meaning / definition of Comp Set in the hospitality industry?
What is the meaning / definition of Complimentary in the hospitality industry?
Complimentary services or products are those given to an audience / a customer without charge. This term is often used in the tourism and hospitality industry.
What is the meaning / definition of Consortia in the hospitality industry?
Consortia are Associations or Marketing organizations which link together small to medium sized independent travel agencies to leverage purchasing power and marketing opportunities. Examples of Consortia are American Express, Carlson Wagonlit, BCD Travel or HRG.
|CPOR - Cost per Occupied Room||
What is the meaning / definition of CPOR in the hospitality industry?
CPOR stands for Cost Per Occupied Room
The CPOR formula helps calculate the average cost per occupied room. This is another KPI to measure and analyse if the operating cost for each room is reasonable.
|CRO - Central Reservations Office||
What is the meaning / definition of CRO in the hospitality industry?
CRO stands for: Central Reservations Office.
It is a system that allows reservation agents to receive reservation requests by phone and to handle them immediately.