Revenue Management Terms
What does ADR stand for?
Average Daily Rate
What does OTA stand for?
Online Travel Agent
What does GOP stand for?
Gross Operating Profit
What does LOS stand for?
Length of Stay
What does ROAS stand for?
Return on Ad Spend
What does BAR stand for?
Best Available Rate
What does GDS stand for?
Global Distribution System
What does CPOR stand for?
Cost per Occupied Room
What does CTA stand for?
Closed to Arrival
What does ARI stand for?
Availability, Rates and Inventory
What does RPI stand for?
RevPAR Index
What does PMS stand for?
Property Management System
What does EBITDA stand for?
Earnings before Interest, Taxes, Depreciation and Amortization
What is a Booking Window?
The timeframe between when a guest makes a reservation for a room and the actual check-in date.
What does 30/60/90 forecast mean?
The numbers stand for days, so it means forecasting for the future - 30/60/90 days out.
What does RevPAR stand for?
Revenue per Available Room
What does CRS stand for?
Central Reservation System
How often do hotels do budgeting?
Once a year
What does LRA stand for?
Last Room Availability
What is BRG?
Best Rate Guarantee
In the hotel industry, what does the term "pick up" refer to?
Revenue management is usually looking at their 30/60/90 day forecast and looking at how many rooms are being picked up per day within that timeframe.
What does RMS stand for?
Revenue Management System
How often do hotels do forecast?
This is dependent on the hotel.
It could be daily, few times a week, or weekly!
What is the benchmarking report a hotel uses to compare their performance to their compset?
STR report
What metrics do we look at to understand whether my hotel is achieving its fair share of revenue compared to its compset?
RevPAR Index