Ch.7+8+9
social media
tools and platforms that people employ to converse with each other and publish/share content online
commissionable tour
when a agent receives commission for selling a tour
net wholesale rates
discounted tour rate offered to a wholesaler or tour operator who will mark it up before selling tour spaces to consumers
vacation ownership
aka interval ownership or timesharing
purchasing the title to a specific period of time at a lodging unit at a particular property
global distribution systems GDS
electronic networks used by travel agents and some internet based distribution channels to make reservations
sponsorship
advertisers present a radio or tv program as the sole sponsor or in a corporation with other advertisers
focus group
a group of past or prospective customers assembled to discuss a hospitality product.brand guided by a trained mediator
tour broker
travel professional licensed by the federal interstate commerce commision to put together package motor coach tours ... aka motorcoach broker or tour operator
channel management
the use of various marketing techniques and sales strategies to reach the widest possible customer based through various 3rd parties like OTA's
hotel consolidators
firms that buy guestrooms in bulk at discounted rates and typically market via the internet
trade magazine
magazine specialized to appeal to specific industries/professions
number of rooms a lodging property sets aside for group and tour businesses
tour intermediary
tour broker who puts together group tours
distribution strategy
the process of making a hospitality product available to consumers
in plant agency
retail travel agency that establishes an office on the premises of a corporate client
corporate travel manager
company manager who handles arrangements for employee business travel
hub and spoke itinerary
a group tour that uses a central destination (hub) and supplements the tour itinerary with day excursions (spokes) to other area sites, attractions... etc.
tour voucher
aka coupon
issued by tour broker in return for accomodations..etc
consortium
a group of travel agencies that have combined their buying power to obtain favorable rates
merchant model
a business model used by online travel agencies. OTA's solicit hotels for deeply discounted room rates and then mark up the rooms at a certain percentage for sales on their site. discounted usually 20-35 below retail levels.
boutique hotel
generally a small hotel that is trendy, stylish and unique. aka lifestyle properties, boutique hotels are known for their ambience, personalized service and posh amenitieis
intermodal tour
a tour that involves more than one form of transportation
tour wholesaler
travel professional who puts tour packages together that usually involve air transportation
familiarization (fam) tours
a complimentary or reduced rate travel program. used to acquaint travel agents, meeting planners..etc. with a property and destination in order to stimulate sales
preffered travel agents
agents who are offered above average commisions or incentives for booking certain volumes of business