Hotel Sales & Marketing Key Terms
Average Daily Rate (ADR): The average rate that the hotel rooms are sold for over a given period of time.
Occupancy: The number of rooms occupied in the property as a function of the number of rooms available.
Revenue Per Available Room (RevPar): Total revenue divided by the total number of rooms available for sale over a given period of time.
Competitive Set (Comp Set): An analysis of your market conditions based upon a set of competing propeties vs your property. It is generated by Smith Travel Research (STR) and measure ADR, Occupancy, RevPar, etc for your property and that of the selected properties in your competitive set.
Central Reservation Systems (CRS): - 1-800 number and the web-site associated with the franchised property.
Global Distribution System (GDS): Travel Agents and some third party web sites utilize this to book rooms at your property. Common GDS providers include Amadeus, Sabre, Travelport, Galielo, and Worldspan.
Third Party Internet Sites (TPIs) or Online Travel Agencies (OTAs): Websites that send reservations to the hotel through a contractual agreement and set commission.
SMERF: Social, Military, Educational, Religious and Fraternal organizations.
Locally Negotiated Rate: A special designated in the property's management system used to identify a specific business from a local company and/or national agreement that is accepted by the property for stays, generally contractual and not available to the public.
Yield Management: The science of maximizing room revenues by maintaining a dynamic and flexible rate structure that is managed on a daily and even hourly basis to achieve the highest possible ADR and occupancies for the property. Learn more about MTEL's Revenue & Yield Management practice.