Fenced Rates are a rate that involves certain benefits for bookers offered by the hotel under some conditions requirements and restrictions in order to make the reservation, types of fenced rates can include such as non-refundable and non-cancellable reservations, or advanced purchase reservations, Length of stay requirement and staying over a specific day of the … Continued
Flash sales is a kind of selling strategy where hotels usually use this way of discounted sales to sell distressed inventory or off-season periods with highly discounted and limited time offer/sale promotions, this kind of promotion typically lasts anywhere from a few hours to one or two days. The limited-time nature of flash sales creates … Continued
Forecasting is statistical patterns used by the hotel revenue managers to predict demand, occupancy and revenue, based on analysis, also to predict a number of key market indicators and customer behaviors, and is done using models that range from basic to very complex. these predictions can then be used to set room rates, schedule promotions, … Continued
Force majeure is a contractual term that defines unforeseeable events preventing one of the parties to fulfill the terms of a contract. In other words: it is an unavoidable circumstance beyond the control of both parties of a contract, that frees one or both from liabilities and obligations.
Free sell is a practise of opening up hotel full inventory to a specific booking channel or Agent (such as wholesale). A free sell is the provision of rooms to a wholesaler outside of the original block, those rooms are considered to be sold subject to free space, hence a “free sell”. A wholesaler may also enter … Continued
Franchise is a common practice prevalent in the fast-food industry, this refers to the right to use the brand and the business model of a specific parent company for a prescribed period of time. It is a method for expanding a business and distributing products and services through a licensing relationship and agreements between the … Continued
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