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.
|ODD - Online Distribution Database||
What is the meaning / definition of ODD, in the hospitality industry?
ODD stands for: Online Distribution Database.
It is a Hotel KPI calculation that shows the percentage of available rooms or beds being sold for a certain period of time.
|OBE - Online Booking Engine||
What is the meaning / definition of OBE, in the hospitality industry?
OBE stands for Online Booking Engine.
It is an online application which allows to chose from a wide range of travel products (hotels, air tickets, conference halls etc.) and book them on the Internet.
|NREVPAR - Net REVPAR||
NREVPAR stands for: Net Revenue Per Available Room
|NOP - Net Operating Profit||
What is the meaning / definition of NOP in the hospitality industry?
NOP stands for Net Operating Profit, also known as NOI (Net Operating Income). It is a KPI / calculation of net operating income / profit after subtracting all of the operating expenses from the revenues generated by a hotel.
What is the meaning / definition of No-Show in the hospitality industry?
If a guest fails to arrive on a certain date to fulfil a booking (as all so often happens!) and does not cancel; that does not necessarily mean the hotel will lose money. No. Hotels can cover themselves for this eventuality by integrating into their pricing structure something called a No-Show fee. That's right, in the Hospitality Industry, a person who does not arrive where and when they should at a hotel or motel, and makes no explanatory contact, is called a No-Show.
|NGS - Next Generation Seamless||
What is the meaning / definition of Next Generation Seamless, in the hospitality industry?
NGS stands for: Next Generation Seamless.
What is the meaning / definition of Net Rate in the hospitality industry?
In hotel distribution we work with many rate levels. Room inventory is sold via some third party distributors at prices that are subject to commission. Others negotiate a (sometimes lower) price with the hotel that does not include a commissions. Such a rate is called a Net Rate.
What is the meaning / definition of Negotiated Rate in the hospitality industry?
Companies that regularly use a particular hotel naturally seek a more compettive or economic prices for rooms, meeting rooms and exhibition spaces. Although this may sound bad for business from a hotel's point of view, if the company in question makes regular bookings, the shortfall in revenue can be made up overall across a trading year. Therefore it is often in a hotel's interests to negotiate rates with companies and organisations. The simplest way to do this is to integrate a Negotiated Rate option into a hotel's overall pricing structure and strategy.
|MPI - Market Penetration Index||
What is the meaning / definition of MPI in the hospitality industry?
MPI stands for: Market Penetration Index
MPI is a calculation to measure your hotel´s occupancy compared to the average market occupancy levels (also referred to as market share).
|MinLOS - Minimum Length of Stay||
At hotels, the number of nights a guest can stay is not necessarily always up to the paying customer, even if they have lots of money to spend on both rooms and in-house serves, such as food, beverages and recreational activities! Often, a hotel will seek to control the number of nights an individual, couple, family or group book in for, for various reasons.
In hotel revenue management when talking about a Merchant Model, we are referring to the commercial model of an OTA (online travel agency). The main characteristic of a Merchant Model OTA is that the guest pays the OTA at the time of booking a room, and the OTA afterwards pays the hotel when the actual stay occurs.
|MaxLos - Maximum Length of Stay||
At a hotel, sometimes the number of nights an individual guest, couple or family can stay has to be limited, even if the hotel is intensely focused upon maximising revenue! This can apply to a group booking, too, particularly if arrival is planned for a certain date and where a group booking discount has been offered and availed of.
What is the meaning / definition of Markup in the hospitality industry?
What is the meaning / definition of Margin in the hospitality industry?
Within revenue management in the hotel industry, Margin is often used to refer to the commission or fee OTA are making on your room rate.