Do you know your ADR from your BAR? We’ve put together a glossary of key tech terms every hotel professional should be familiar with.
You’re welcome 🙂
ADR: Average daily rate, calculated by dividing total room revenue in one day by the number of rooms sold
BAR: Best Available Rate: The lowest rate available for a hotel room
CRS: Central reservations system, the software that hotels use to handle room reservations
GDS: Global distribution system, the software that travel agents use to find and book flights, hotel rooms, and other products
Net Rate: The rate offered to travel agents and wholesalers, who can then add their own markup
No-Show: A hotel guest who does not show up at the intended time or cancels their reservation
OTA: Online travel agency, a business that sells multiple travel products from different companies online
PMS: Property management software, which hotels use to automate administrative tasks
Rack Rate: The price available to the public, outside of any special group rates or discounts
IDS: Internet Distribution System, internet reservation systems, travel websites and portals that concentrate on online marketing of travel, hotel and related services directly to users
KES: Key encoding system, software used to program guest room keys
TMS: Telephone management system, the system that typically manages all the hotel’s internal and external telephony communications and its behaviour
REVPAR: Revenue per Available Room, is a performance measure used in the hospitality industry. RevPAR is calculated by multiplying a hotel’s average daily room rate by its occupancy rate.
FA: Financial Accounting, the process of recording, summarizing and reporting transactions and revenue-expense generations in a time period
IPTV: Internet Protocol television, is a system through which tv services are delivered to the guest on the room TV
MICE: Meetings, Incentives, Conferences & Events, software used for planning, booking, and facilitating conferences, seminars, and other events.
