TRAVEL ACCOMODATIONS NOTES

A LOT MORE PRAYERS FOR THE CALCULATIONS WE NEEDA DO SHEESH

SMERF

An acronym representing social, military, education, religious, and fraternal segments in the hospitality industry.

FIT business

Free or independent individual travel that usually seeks the best available rate (BAR rate) for accommodations.

Bleisure segment

A blend of business travel with leisure activities.

No show

A situation where guests do not show up for their booking, potentially incurring charges depending on the cancellation policy.

Extended stay segment

Guests who stay for a minimum of 7 nights, often booking 10 or more rooms.

Travel agency rate

Special rates offered to travel agencies who book clients at a property.

Whole salers

Buyers who purchase hotel rooms in bulk to distribute to clients or guests.

Online travel agency (OTA)

A web-based platform for booking travel services that must understand customer needs.

Loyalty program

A marketing strategy aimed at retaining customers and enhancing their travel experience through rewards.

Incentive trip

A reward trip organized by a company where the traveler does not have to pay.

Upsell

The practice of encouraging customers to purchase a more expensive room type.

Glamping

A luxurious camping experience that combines comfort with nature.

Staycation

Leisure trips taken close to home or within one's own country.

Coworking spaces

Designated areas in hotels for people to work remotely, emphasizing strong Wi-Fi and business services.

Mixed use properties

Buildings that combine three different components, such as lodging, retail, and residential spaces.

Cruise

A vacation format that combines travel, transportation, and accommodation on a ship.

CLIA

Cruise Lines International Association, the world's largest cruise industry trade association.

Occupancy Rate (OCC%)

The percentage of available rooms that are occupied over a specific period.

Average Daily Rate (ADR)

The average revenue earned per occupied room in a hotel.

Revenue per Available Room (RevPAR)

A performance metric that combines occupancy and the average daily rate.