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History of the Reservation System
Internet Distribution Systems
Distribution Cost
Channel Selection
100
An arrangement between a buyer and a seller to hold a product or service in advance of purchase
What is A RESERVATION?
100
Electronic system that facilitates purchases of hospitality products or service on internet.
What is the Internet Distribution System?
100
The cost of getting a product or service to the market
What is distribution cost?
100
The most important element in channel selection
What is the customer?
200
The first computerized reservation system created by the airline
What is ARS / Airline reservation system?
200
The organization's own website.
What is Proprietary site?
200
The meaning of the acronym ALOS
What is average length of stay?
200
(Primary Revenue + Ancillary Revenue - Acquisition Cost) x Propensity Y
What is total customer worth equation?
300
Definition of products or services made available fo sale through various channels of distribution
What is INVENTORY?
300
It is an intermediary between customer and seller.
What is 3rd party website?
300
The number of transactions generated by the channel
What is channel production?
300
The cost of acquiring the customer, including the costs of marketing, the cost of taking reservations, and the cost of actually serving the guest
What is acquisition cost?
400
The computerized system created by the hotel industry to handle reservations within their own brand
What is a CRO / Central Reservation Offices?
400
Inventory that providers couldn't sell.
What is distressed inventory?
400
The revenue generated from a single transaction
What is channel contribution?
400
The additional money that customer spends on food and beverage
What is ancillary revenue?
500
The system available to travel agents to book a wide range of products and services worldwide
What is GDS / Global Distribution Systems?
500
A channel where the price or the product is hidden to the customer.
What is opaque channel?
500
The percentage or flat fee above the selling price that goes to an intermediary that must also be added to the cost of distribution
What is commission / load?
500
A consumer's probability of purchasing an organization's products and services in the future
What is the propensity variable?