Useful / Common Acronyms
#hotelreservations and #revenuemanagement
How many do you know (out of 25)? Comment down your answer.
FYI / FYA - For Your Information / For Your Action
EOD - End Of Day
PFA - Please Find Attached
VIP - Very Important Person
CIP - Commercially Important Person
CC - Credit Card
RFP - Request For Proposal
BB - Bed & Breakfast
HB - Half Board
Includes breakfast and Lunch or Dinner
FB - Full Board
Includes breakfast, lunch and dinner
AI - All Inclusive
Includes all meals and beverages
OCC - Occupancy
Determines the number of occupied rooms in a given period
#adr - Average Daily Rate
Calculates how much were the occupied rooms sold in a given period
#revpar - Revenue per Available Room
Takes into account how much you have sold all the available rooms in a given period.
COMP SET - Competitors Set
Set of hotels usually 4 or 5 that is align to your hotel's product and brand positioning
MPI - Market Penetration Index
Measures how well your hotel have captured the market in terms of occupancy against your COMP Set
ARI - Average Rate Index
Measures how much your hotel have sold the occupied rooms against your COMP Set
RGI - Revenue Generation Index
Measures the hotel's Revpar compared to your COMP Set.
#pms - Property Management System (ex. Opera, Fidelio, Protel, etc...)
#rms - Revenue Management System (ex. IDEAS, Duetto, etc...)
GDS - Global Distribution System
#ota - Online Travel Agents (ex. Booking.com, Agoda, Expedia, etc...)
FIT - Free Individual Travellers
WHO / WHS - Wholesale
GRP - Groups
#hospitality
#hospitalityindustry
#hotel
#resorts
#hospitalitymanagement
#hotelmanagement