glossary: B

Best Rate Guaranteed (BRG) programs are used by hotels chains around the world to guarantee that a hotel guest is given the lowest available rate for a night or a multiple-night stay. If means that if guest find a better, publicly available rate on another third-party website i.e. OTA, travel agent or wholesalers, than the … Continued

Booking Window is the period of time between the reservation is made by the guests or a group and the actual arrival date to the hotel for their stay, is similar to Lead Time. Or more simply, the booking window describes how far in advance guests book their stays. A booking window is an important metric … Continued

Benchmarking uses a number of hotels KPIs to make comparisons against competing hotels. Examples of KPIs used in hotel benchmarking include prices, level of service, product offerings, location, and distribution channels. Benchmarking is a technique for hotel revenue management. It allows a hotel to compare itself against competitors. Specific comparisons can be made based on … Continued

Blackout Dates are dates in which no discounts, conventions and promotions of any kind are active. They coincide with periods of high demand during peak season or, occasionally, when large-scale events attract higher-than-expected occupancy rates during the year. Blackout Dates also referred to pricing and policies that exist during certain high-demand periods. Hotel rooms are … Continued

Booker is the person, who regularly makes the booking/ reservations for himself or for others , the person who book on behalf of others might be an administrative assistant or individual travel agent.

Booking Curve is graph that helps hotel revenue managers to show how hotel bookings materialise over a certain period in time. These curves are usually displayed in graph form and can include several data items It includes data like room pickup, bookings, number of bookings, days before arrival, yielding capacity and availability. By converting those data from pick-up … Continued

Booking Pace is a key metric for revenue manager and reservation department that indicates how frequently bookings are made on a specific date over time. This booking “rhythm” reveals whether the current offer (i.e. rates) is suitable for the current demand. It is therefore a useful tool for monitoring and optimizing dynamic pricing. Booking Pace … Continued

A business mix usually refers to the ratio of different types of guests a hotel caters to / different market segments that occupy a hotel, e.g., leisure travelers, business travelers, families with kids, luxury lovers, adventure seekers, etc. Depending on their location and amenities, some properties choose to focus mainly on one clientele type, while … Continued

A Boutique Hotel is a small Intimate, luxurious, Historical, and classic buildings hotels offering personalized accommodation and services, remodelled into boutique hotels with usually have less than 30 rooms. It has a unique character and distinguishes itself from other hotel brands. It true to its heritage, it provides guests with great and ultra-personalized service and … Continued

A property’s budget defines its revenue targets. Annual Financial Plan – A budget is prepared for a hotel’s management and ownership team to estimate the hotel’s income and expenses over a set period of time. The budget is built based on a hypothetical “simulation” of likely market scenarios combined with the property’s expected strategies and … Continued