| A | B |
|---|
| Revenue Management | The process of gathering forecasted sales information and using it to determine pricing or room rate strategies. |
| Group Allocation | The specific number of group rooms a hotel can sell on any given day, without prior approval. |
| No-show | A situation in which a guest makes a reservation, does not register, and does not cancel the reservation. |
| Guaranteed Reservation | Assures the guest that the hotel will hold a room until a specific time of the day following the guest’s scheduled arrival date. The guest, in turn, guarantees to pay for the room and room tax, even though it is not used, unless the reservation is canceled according to the hotel’s cancellation procedure. |
| Prepayment | A variation of a guaranteed reservation, this requires that the guest pay the hotel in full before the arrival date. |
| Credit Card Guaranteed Reservation | A variation of a guaranteed reservation, this is a system major credit card companies have developed to ensure that participating lodging properties receive payment for no-shows. |
| Cancellation Hour | Unless a reservation is properly canceled before this time, the hotel will charge the guest’s credit card for one night’s rent, along with room tax, at the rate it quoted the guest. |
| Advance Deposit Guaranteed Reservation | A variation of a guaranteed reservation, this is a partial prepayment a guest makes to a hotel before arrival. This payment is usually adequate to cover one night’s room rate and room tax. |
| Travel Agent Guaranteed Reservation | Under this arrangement, the traveler pay the travel agent in advance for transportation and room charges, and the travel agent guarantees the client’s reservation with the hotel. |
| Miscellaneous Charge Order | Another type of travel agent guarantee. The Airline Reporting Corporation issues the MCO, and guarantees payment to the hotel if the travel agent defaults on payment |
| Corporate Guaranteed Reservation | An arrangement under which a corporation contracts with a hotel to accept financial responsibility for any no-show business travelers the corporation sponsors. |
| Non-Guaranteed Reservation | Under this arrangement, the hotel agrees to hold a room for a guest until a stated cancellation hour. This reservation does not guarantee that the hotel will be paid for no-shows. |
| Free Independent Traveler | A guest coming to the hotel as an individual and not part of a group. |
| Affiliate Reservation Network | A hotel chain’s reservation system in which all participating properties are contractually related. Each property is represented in the computer system database and is required to provide room availability data to the reservation center on a timely basis. |
| Overflow facilities | Non-chain properties in an affiliate reservation system. Reservation requests may be routed to these properties only after all available rooms in chain properties, within the same geographical area, have been booked. |
| Non-Affiliate Reservation Network | A subscription system designed to connect independent or non-chain properties. A hotel subscribes to the system’s services and takes responsibility for updating the system with timely and accurate room availability data. |
| Central Reservation Office | Deals directly with the public by means of a toll-free telephone number or online web address. Provides participating properties with necessary communications equipment, and bills properties for handling reservations. |
| Intersell Agency | A reservation network that handles more than one product line, including airline flights, car rentals, and hotel rooms. |
| Overrun Facility | A hotel property selected to receive reservation requests after chain properties have exhausted room availabilities in a geographical region. |
| Cluster Reservation System | A central reservation office that serves one specific geographic area instead of the entire hotel chain. |
| Global Distribution Systems | Owned by major airlines, they provide access to travel and tourism inventories through direct linkage with the reservation systems of hotel, airline, car rental, and travel agencies on a world-wide basis. |
| Block | A agreed upon number of guestrooms a hotel sets aside, until a cut-off date, for group members. |
| Booked | Rooms that are sold or reserved ahead of time. |
| Cut-off Date | The date on which unreserved rooms in a block may be released to a hotel’s available rooms inventory. |
| Non-group Displacement | This occurs when a group takes away rooms from transient or non-group business. |
| Wash Down | Reducing a block based on the group’s booking history. |
| Definite Group | A group that has signed a sales contract and is entered into the hotel’s reservation system. |
| Tentative Group | A group that has not signed or returned a sales contract. |
| Convention and Visitors Bureau | Large conventions sometimes require the use of rooms at more than one hotel to accommodate all convention attendees. These entities accommodate all attendees by coordinating hotel availabilities with reservation requests. |
| Tour Groups | Groups of people who have had their accommodations, transportation, and related travel activities arranged for them. |
| Confirmation Letter | This contains important details of the reservation, and is sent to the guest by mail, email, or fax. |
| Reservation Transaction Report | Summarizes daily reservations activity in terms of reservation record creation, modification, and cancellation. |
| Commission Agent Report | Tracks the amounts the hotel owes each travel agent for commission they earn from selling the hotel’s guestrooms. |
| Regret and Denial Report | Shows guestroom sales the hotel looses because guests choose not to make a reservation (regrets) or because the hotel was unable to accept a reservation (denial). Management uses this information on this report to make rate changes or to add rooms. |
| Revenue Forecast Report | Projects future revenue by multiplying predicted occupancies by applicable room rates. Management use this information for long-range planning and cash management strategies. |
| Stayover | A guest who continues to occupy a room between his or her day of arrival date and expected departure date. |
| Overstay | A guest who stays in the hotel beyond his or her expected departure date. |
| Understay | A guest who checks out of a hotel before his or her expected departure date. |
| Expected Arrival and Departure List | A daily report showing the number of guests with reservations that are expected to arrive on a given day, the number of guests expected to depart, along with the number of stayovers. Facilitates the guest registration and guest check out. |
| Room Availability Report | Lists, by room type, the number of rooms that are available each day – net remaining room in each category. |
