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Pages in category "Hotel terminology" ... Text is available under the Creative Commons Attribution-ShareAlike 4.0 License; additional terms may apply.
In 2020, the United States Department of Labor Standard Industrial Classification (SIC) defines the hospitality industry more broadly, including: [2]. 701 Hotels and Motels, including auto courts, bed and breakfast inns, cabins and cottages, casino hotels, hostels, hotels (except residential ones), inns furnishing food and lodging, motels, recreational hotels, resort hotels, seasonal hotels ...
A hotel consolidator (also called a hotel broker) is a travel company (travel agency or tour operator) or business that buys up blocks of hotel rooms at a predetermined destination and then resells them as package holidays [1] or at discounted rates to final customers.
On the other hand, in situations where demand is strong for a product but the threat of cancellations rooms (e.g. hotel rooms or airline seats), firms often overbook in order to maximize revenue from full capacity. Overbooking's focus is increasing the total volume of sales in the presence of cancellations rather than optimizing customer mix. [4]
During times of high demand, hotels also practice overbooking and apply similar procedures to that of the airlines, in which a service equal to or greater than that which was booked must be provided to the customer. Most states have laws requiring accommodation to be provided at an alternate hotel, referred to in hotel terminology as a "walk in".
Since RevPAR is a measurement for a particular period of time (say a day, or month or year) it is most often compared to the same time frame. It is often used in comparison to competitors within a custom defined market, trading area, or advertising region or a self-selected competitive set as defined by the hotel's owner or manager, which is referred to as RevPAR Index or RGI (Revenue ...
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Certified in Hospitality Sales Competences: CHSC: Hospitality Sales and Marketing International: Certified Hospitality Sales Executive: CHSE: Hospitality Sales and Marketing International: Certified Ganjier CG The Ganjier Cannabis Sommelier Certification Program Certified Guest Service Professional: CGSP: American Hotel & Lodging Association ...