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Travel Technology Terms Demystified

A

ADR (Average Daily Rate)

ADR (Average Daily Rate) is a key performance metric in the hospitality industry that measures the average rental income per paid occupied room, a vital indicator for revenue management.

API Integration

API Integration connects different software systems, allowing travel agencies to streamline operations, enhance user experience, and access diverse travel content through a unified interface.

Adventure Tourism

Adventure tourism involves travel to remote or exotic locations to engage in physically challenging outdoor activities. This growing sector caters to thrill-seekers and promotes unique experiences beyond traditional tourism.

All-Inclusive

All-inclusive travel packages encompass all essential components of a trip, including accommodation, meals, activities, and transportation, providing travelers with a seamless experience.

Amadeus

Amadeus is a leading travel technology company providing comprehensive solutions for travel agencies, airlines, and other travel providers, focusing on distribution, inventory management, and travel booking.

B

Boutique Hotel

Boutique hotels are unique, stylish accommodations that offer personalized services and a distinctive atmosphere, catering to travelers seeking a memorable experience.

C

Competition-Based Pricing

Competition-based pricing is a strategy where travel businesses set their prices based on competitors' pricing. This approach helps optimize revenue and market positioning while ensuring competitive advantage in the travel industry.

Complimentaries

Complimentaries refer to added-value services or products provided by travel agencies to enhance customer experience and foster loyalty, impacting revenue and client retention.

Concierge

Concierge services in the travel industry provide personalized assistance to clients, enhancing their travel experience through tailored recommendations and bookings.

Condo Hotel (Condotel)

A condo hotel, or condotel, is a hybrid between a condominium and a hotel, offering property ownership with hotel-like amenities and rental options.

Connecting Flight

A connecting flight is a flight that requires passengers to change planes at an intermediate airport before reaching their final destination, often used to optimize travel routes and costs.

Connecting Rooms

Connecting rooms are two or more hotel rooms that are physically joined by a door, allowing guests to move freely between them. This setup is ideal for families or groups traveling together, enhancing convenience and privacy.

Connectivity Provider

A connectivity provider supplies travel agencies and OTAs with access to various travel content through integrated systems, enhancing booking capabilities and operational efficiency.

Consortia

Consortia are collaborative networks of travel agencies or professionals that leverage collective buying power, resources, and technology to enhance service offerings and negotiate better deals with suppliers.

Contact Center

A contact center is a centralized hub for managing customer interactions across various communication channels, enhancing customer experience and operational efficiency in travel agencies.

Content Mapping

Content mapping is the strategic alignment of travel content to specific customer needs and business objectives, enabling tailored marketing and booking experiences.

Conversion Rate

Conversion rate measures the percentage of visitors who complete a desired action, such as booking a trip, within a travel business context.

Corporate Travel Management (CTM)

Corporate travel management (CTM) is the process of planning, booking, and managing business travel for organizations, focusing on efficiency, cost control, and employee satisfaction.

Corporate Travel Manager

A Corporate Travel Manager oversees and optimizes travel logistics, policies, and budgets for an organization, ensuring efficiency and cost-effectiveness in business travel.

Corporate Travel Program

A corporate travel program is a strategic plan designed by companies to manage and optimize their travel policies, expenses, and vendor relationships, ensuring efficiency, compliance, and cost-effective travel solutions.

Cost Per Mile (CPM)

Cost per mile (CPM) quantifies the cost incurred by a travel business per mile traveled, crucial for pricing strategies and expense management.

Cost Per Occupied Room (CPOR)

Cost per Occupied Room (CPOR) measures the total operational costs associated with each room sold, providing insights into profitability and efficiency in the hospitality sector.

Cost Per Transaction (CPT)

Cost per transaction (CPT) is a crucial financial metric that calculates the total cost incurred for each transaction processed by a travel agency or platform, influencing profitability and operational efficiency.

Country House Hotel

A country house hotel is a luxurious accommodation set in a rural or semi-rural location, often featuring historic architecture and expansive grounds, providing guests with a tranquil retreat and personalized service.

Crew Management

Crew management involves the processes and systems used to effectively schedule, track, and manage personnel in the travel industry, ensuring operational efficiency and compliance.

Cross-Selling

Cross-selling in travel refers to the strategy of selling additional products or services to existing customers, enhancing their travel experience and increasing revenue for agencies.

Culinary Tourism

Culinary tourism refers to the exploration of food as the central element of the travel experience, focusing on local cuisines, cooking classes, and food tours.

D

Data Scraping

Data scraping in travel technology involves extracting relevant information from various online sources to enhance operational efficiency and decision-making.

Deadhead In Aviation

Deadheading in aviation refers to the transportation of airline crew members or aircraft without passengers, essential for operational efficiency and crew management.

Demand-Based Pricing

Demand-based pricing refers to a pricing strategy where prices are adjusted based on customer demand, maximizing revenue and optimizing inventory for travel businesses.

Denied Boarding Compensation (DBC)

Denied Boarding Compensation (DBC) refers to the compensation airlines must provide to passengers who are involuntarily denied boarding due to overbooking or other reasons. It ensures passenger rights and airline accountability.

Departure Tax

Departure tax is a fee imposed by governments on travelers leaving a country, impacting travel costs and agency operations.

Design Hotel

A design hotel is a unique accommodation that emphasizes architecture and interior design, offering a visually striking experience alongside luxury services.

Destination Management Company (DMC)

A Destination Management Company (DMC) is a professional services company specializing in the planning and execution of travel and event management services in a specific destination.

Digital Nomad

Digital nomads are individuals who leverage technology to work remotely while traveling or living in different locations. This lifestyle blends work and travel, enabling flexibility and adventure.

Digital Nomad Visa

A Digital Nomad Visa allows individuals to live in a foreign country while working remotely, catering to the growing trend of location-independent work.

Direct Flight

Direct flights connect two destinations without layovers, providing travelers with a faster and more convenient travel experience. They are crucial for optimizing travel efficiency and enhancing customer satisfaction.

Disaster Tourism

Disaster tourism involves visiting locations affected by disasters, both natural and man-made, for educational or experiential purposes. It raises ethical questions and impacts local economies.

Distribution Channel

Distribution channels encompass the various platforms and methods used by travel businesses to deliver their services and products to customers, including OTAs, direct bookings, and travel agents.

Distribution Mix

Distribution mix refers to the strategic combination of channels used by travel businesses to sell their products and services, impacting market reach and profitability.

Distribution Strategy

Distribution strategy refers to the methods and channels used by travel businesses to deliver their products and services to customers, maximizing reach and revenue.

Double Occupancy

Double occupancy refers to hotel room pricing for two guests sharing one room, impacting revenue strategies and customer preferences in the travel industry.

Double Room

A double room is a hotel accommodation type designed to accommodate two guests, featuring one large bed or two single beds, catering to both leisure and business travelers.

Duty Of Care

Duty of care refers to the legal and ethical obligation of travel companies to ensure the safety and well-being of their clients during travel. It encompasses risk management and traveler support.

Duty-Free

Duty-free refers to goods sold without the inclusion of local import duties and taxes, typically available at international airports or borders. These products allow travelers to purchase items at reduced prices, enhancing their travel experience.

Dynamic Content

Dynamic content refers to personalized, real-time content that adapts to users' preferences, behaviors, and contexts in travel booking platforms.

Dynamic Packaging

Dynamic packaging allows travel businesses to create custom travel packages by combining various components like flights, hotels, and activities in real time, enhancing customer experience and maximizing revenue.

Dynamic Pricing

Dynamic pricing is a pricing strategy where travel companies adjust prices in real-time based on demand, competition, and other market factors to maximize revenue and occupancy.

E

E-Ticket

An E-ticket is a digital version of a paper ticket used in travel, allowing for the electronic confirmation of a traveler's booking and itinerary.

Ebitdar

EBITDAR stands for Earnings Before Interest, Taxes, Depreciation, Amortization, and Rent. It measures a company’s operational performance by excluding certain expenses.

Ecotourism

Ecotourism refers to responsible travel to natural areas, conserving the environment, and promoting the welfare of local communities. It emphasizes sustainability and education while minimizing ecological impact.

Electronic Funds Transfer (EFT)

Electronic Funds Transfer (EFT) is a digital payment method for transferring money between accounts, crucial for travel agencies and TMCs to streamline transactions.

Excess Baggage

Excess baggage refers to luggage that exceeds the airline's weight or size limits, often incurring additional fees. This concept is crucial for travel businesses managing customer expectations and costs.

Excursion

Excursion refers to a short journey or trip taken for leisure, business, or educational purposes, often as part of a travel package.

Exit Row

An exit row refers to specific seating locations in an aircraft that provide additional space and are situated near emergency exits, often available for passengers willing to comply with safety regulations.

Experiences

Experiences refer to curated travel activities and services enhancing customer journeys, influencing purchasing decisions, and providing memorable interactions within the travel industry.

Experiential Travel

Experiential travel emphasizes immersive experiences that connect travelers with local culture, people, and activities, transforming the journey into a meaningful adventure.

Extended Stay Hotel

Extended stay hotels are accommodations designed for longer stays, typically offering home-like amenities such as kitchens and laundry facilities, catering to business travelers and relocators.

Extranet In Ota

An extranet in OTA enables secure, controlled access to travel content for partners and stakeholders, facilitating real-time data exchange and collaboration.

F

FIT (Free Independent Traveler)

FIT (Free Independent Traveler) refers to travelers who create personalized itineraries without relying on packaged tours, seeking unique experiences and flexibility.

Familiarization Tour

A familiarization tour is a hosted trip for travel professionals to experience destinations, products, or services firsthand to enhance their selling capabilities and knowledge.

Fare Basis

Fare basis refers to the specific code used by airlines and travel companies to define the rules, restrictions, and pricing of a fare. It is crucial for pricing transparency and booking accuracy.

Fare Buckets

Fare buckets refer to categories that airlines use to manage different pricing levels for seats on a flight. Each bucket has specific rules regarding availability, pricing, and conditions.

Fare Rules

Fare rules are the specific conditions and restrictions associated with airline tickets, including changes, cancellations, and refunds, essential for travel agencies and TMCs.

Flag Carrier

A flag carrier is a national airline designated by a country to represent its aviation sector, often enjoying government support and preferential treatment.

Flight Booking

Flight booking refers to the process of reserving seats on an aircraft through various channels, crucial for both B2B and B2C travel operations.

Flight Coupon

A flight coupon refers to a portion of a flight itinerary that entitles the traveler to board a specific segment of their journey. It is a crucial element in airline ticketing and travel management.

Flight Leg

A flight leg refers to a segment of a flight itinerary connecting two points, essential for understanding travel routes and pricing.

Flight Segment

A flight segment is a portion of a journey involving a specific flight, typically between two airports, often part of a longer itinerary.

Food Tourism

Food tourism encompasses traveling to experience a destination's culinary offerings, including local cuisine, food festivals, and cooking classes, appealing to food enthusiasts.

Form Of Payment (FOP)

Form of payment (FOP) refers to the specific method used by customers to settle transactions in travel bookings, including credit cards, cash, or digital wallets.

Front Desk

The front desk is the primary interface for guest check-in, customer service, and booking management in travel businesses, crucial for operational efficiency.

Front Office

Front office encompasses all customer-facing operations in travel agencies, OTAs, and TMCs, including booking, customer service, and sales. It is crucial for enhancing customer experience and driving revenue.

Fuel Surcharge

Fuel surcharge is an additional fee imposed by travel providers to offset fluctuating fuel costs, impacting pricing strategies for agencies and airlines.

Full Board (FB)

Full board (FB) refers to a hospitality meal plan that includes breakfast, lunch, and dinner, providing travelers with a comprehensive dining experience during their stay.

Full-Service Carrier (FSC)

A full-service carrier (FSC) is an airline that provides a wide range of services, including meals, checked baggage, and premium seating, enhancing the travel experience.

G

GDS

Global Distribution System (GDS) is a computerized network that enables travel agencies and companies to access and book travel services from multiple suppliers in real-time.

Galileo GDS

Galileo GDS is a global distribution system facilitating travel bookings across airlines, hotels, and car rentals, empowering travel agencies to optimize operations and enhance customer experience.

Generative AI (Gen AI)

Generative AI (GenAI) refers to advanced algorithms that create new content, enhancing personalization and operational efficiency in travel businesses.

Ghost Card

Ghost cards are virtual payment solutions used in travel management to streamline expense tracking and improve financial control without physical cards.

Gift Voucher

A gift voucher is a prepaid card or certificate that allows recipients to purchase travel services or experiences from a specific agency or provider, enhancing customer engagement and revenue.

Glamping

Glamping, or glamorous camping, combines outdoor experiences with luxury accommodations, catering to travelers seeking comfort in nature. This trend enhances guest experiences while providing unique offerings for travel agencies and operators.

Globe-Trotter

A globe-trotter is a traveler who explores various countries and cultures, often seeking adventure and unique experiences across the globe.

Go-Around

A go-around in aviation occurs when an aircraft aborts its landing due to unsafe conditions, requiring it to circle back for a safe landing. This term is crucial for travel agencies and TMCs managing flight schedules and client expectations.

Goppar

GOPPAR, or Gross Operating Profit Per Available Room, measures hotel profitability efficiency, crucial for travel agencies and TMCs analyzing financial performance.

Group Travel

Group travel refers to travel arrangements made for a collective of individuals, typically involving shared itineraries, accommodations, and transportation, catering to various needs.

H

Half Board (HB)

Half board (HB) is a meal plan offered by hotels including breakfast and dinner, excluding lunch, providing travelers with flexibility and cost savings.

Head Tax

Head tax refers to a fee charged per passenger for travel services, impacting pricing and revenue strategies for travel businesses.

Heritage Tourism

Heritage tourism involves traveling to explore and appreciate historical sites, cultural traditions, and artifacts, enriching the travel experience while supporting local economies and preserving heritage.

Hospitality Manager

A hospitality manager oversees operations in hotels, restaurants, and travel businesses, ensuring quality service and efficient management of resources to enhance guest satisfaction and profitability.

Host Travel Agency

A host travel agency is a business that provides support, resources, and access to travel suppliers for independent travel agents, enhancing their operational capabilities and revenue potential.

Hotel Billback

Hotel billback refers to the process where travel agencies charge clients for hotel stays directly, rather than the client paying the hotel. This optimizes cash flow and reporting.

Hotel Chain

A hotel chain is a group of hotels that operate under a single brand or management, offering standardized services and experiences across multiple locations.

Hotel Classification

Hotel classification refers to the systematic categorization of hotels based on their quality, amenities, and services, aiding consumers and travel agencies in decision-making.

Hotel Content Mapping

Hotel content mapping refers to the process of aligning hotel inventory data with booking platforms to ensure accurate representation and availability of hotel products across various channels.

Hotel Folio

A hotel folio is a detailed document that outlines all charges incurred by a guest during their stay, essential for accurate billing.

Hotel Reservation System

A hotel reservation system is a software platform that enables travel agencies and hotels to manage room bookings, availability, pricing, and guest information efficiently and effectively.

Hotel Sourcing

Hotel sourcing refers to the process of identifying, negotiating, and contracting accommodations from various suppliers, tailored for travel agencies and corporate clients.

Hotel Star Rating

Hotel star rating is a classification system that indicates the quality, amenities, and services offered by hotels, helping consumers make informed lodging choices.

Housekeeping

Housekeeping refers to the essential administrative and operational processes in travel agencies, ensuring smooth management of bookings, cancellations, and customer service, crucial for maintaining efficiency and customer satisfaction.

Hurdle Rate

Hurdle rate is the minimum acceptable return on investment for a project or investment. In travel, it helps assess project viability and investment decisions.

Hush Trip

A hush trip refers to discreet travel arrangements often made to maintain privacy or confidentiality, typically for high-profile clients or corporate executives.

I

IATA

IATA, the International Air Transport Association, is a trade association for airlines, crucial for travel agencies and OTAs for compliance and connectivity.

IATA Accreditation

IATA accreditation is a certification that enables travel agencies to sell airline tickets and access various travel-related services, enhancing their credibility and operational capabilities in the travel industry.

IATA Code

IATA codes are unique three-letter identifiers assigned to airlines, airports, and travel-related entities, crucial for ticketing and reservations in the travel industry.

IATA Number

An IATA number is a unique identifier assigned to travel agents and agencies by the International Air Transport Association, enabling them to access airline services and resources.

IATA Rate of Exchange (IRoE)

The IATA Rate of Exchange (IROE) is the standardized currency conversion rate used in travel transactions, ensuring consistency across international bookings.

ICAO

ICAO stands for International Civil Aviation Organization, a UN specialized agency that sets global standards for aviation safety, efficiency, and environmental protection.

Inbound Tour Operator

An inbound tour operator specializes in organizing and managing travel arrangements for visitors to a destination, facilitating tours and experiences that showcase local attractions and culture.

Itinerary Planning

Itinerary planning involves creating detailed travel plans that outline schedules, accommodations, activities, and logistics for travelers, optimizing their experience and efficiency.

L

Laptop Luggers

Laptop luggers refer to travel professionals who rely heavily on laptops for their work, often while on the move, impacting travel agency operations.

M

Manifest

A manifest is a comprehensive list or document that details passengers, cargo, or items on a transportation vehicle, crucial for travel operations and compliance.

Marine Travel

Marine travel encompasses all travel arrangements related to maritime transport, including cruises, ferries, and cargo shipping, serving both leisure and business needs.

Meal Basis

Meal basis refers to the type and frequency of meals included in travel packages, affecting pricing, guest satisfaction, and operational planning.

Medical Tourism

Medical tourism involves traveling to another country for healthcare services, often for better quality, lower costs, or specialized treatments.

Merchant Model

Merchant model is a pricing strategy where travel agencies purchase travel products in bulk, reselling them at a marked-up price, enhancing revenue control and profitability.

Merchant of Record

Merchant of Record (MoR) refers to the entity responsible for processing payments, managing transactions, and handling customer service on behalf of travel businesses.

Mid-Office

Mid-office refers to the operational layer in travel businesses that manages bookings, payments, and back-office functions, streamlining processes for efficiency and accuracy.

Minimum Connection Time (MCT)

Minimum Connection Time (MCT) refers to the least amount of time required for a passenger to make a connecting flight, ensuring a smooth transfer between flights.

N

NDC Fare

NDC fare refers to fares provided through the New Distribution Capability, enabling airlines to offer personalized pricing and services via travel agencies and online platforms.

Negotiated Fare

Negotiated fare refers to discounted rates on travel services secured through agreements between travel agencies and suppliers, enhancing profitability and competitiveness.

No Show

No show refers to a traveler who fails to appear for a booked service, such as flights or hotel reservations, without prior notification, impacting revenue and operations.

O

Occupancy Rate

Occupancy rate measures the percentage of available accommodations that are occupied over a specific period. It's a key metric for assessing property performance and profitability in the travel industry.

One Order

ONE Order is a modern airline order management system that consolidates booking, payment, and fulfillment processes into a single order, enhancing operational efficiency.

Online Booking Tool (OBT)

An Online Booking Tool (OBT) is a digital platform that allows travelers to search, compare, and book travel services such as flights, hotels, and car rentals in real-time.

Open Jaw Flight

Open jaw flight refers to a travel itinerary where a traveler flies from their origin to a destination and returns from a different destination back to the origin, allowing for multi-city travel.

Open Ticket

An open ticket allows travelers flexibility to change their travel dates without incurring additional fees, enhancing customer satisfaction and operational efficiency for travel agencies.

Operating Carrier

Operating carrier refers to the airline or transportation provider responsible for the actual flight or service delivery, distinct from ticketing carriers.

Outbound

Outbound travel refers to trips taken by travelers from their home country to foreign destinations, impacting travel agencies' operations and strategies.

Override Commission

Override commission refers to additional commission earned by travel agents or agencies when they surpass certain sales thresholds set by suppliers, enhancing profitability.

Overtourism

Overtourism refers to the excessive influx of tourists to a destination, causing strain on local resources, infrastructure, and communities. It leads to environmental degradation and diminishes the quality of life for residents.

P

Passenger Service System (PSS)

A Passenger Service System (PSS) manages airline operations, including reservations, ticketing, and check-in processes, enhancing customer experience and operational efficiency.

Passive Segment

Passive segment refers to a category of travel bookings that are made without active engagement from the traveler, often handled by travel agents or systems.

Priority Boarding

Priority boarding allows passengers to board the aircraft before general boarding, enhancing customer experience and operational efficiency for travel agencies and airlines.

Private Fare

Private fare refers to exclusive pricing agreements negotiated between travel agencies and suppliers, offering unique rates that enhance competitiveness and profitability.

Property Management System (PMS)

A Property Management System (PMS) is a software platform that streamlines hotel and travel agency operations, managing bookings, customer data, and financials seamlessly.

Pseudo City Code

Pseudo city code refers to a unique identifier used by travel agencies and airlines to facilitate bookings and transactions. It simplifies the connection between agencies and suppliers, improving operational efficiency.

R

REST APIs

REST APIs are architectural styles for web services that allow travel businesses to access and integrate diverse travel content efficiently, enhancing operational agility and scalability.

Rate Parity

Rate parity ensures consistent pricing across all distribution channels for travel products, preventing price discrepancies that can harm brand integrity and profitability.

Rate Plan

A rate plan is a structured pricing strategy used by travel businesses to define rates for services like accommodation, flights, and packages, influencing profitability and market competitiveness.

Rate Shopper

Rate shopper refers to a tool or process that analyzes pricing across various travel suppliers to ensure competitive rates for travel agencies and OTAs.

Reconciliation

Reconciliation in travel refers to the process of ensuring that financial records align across various platforms, helping agencies maintain accuracy and prevent discrepancies.

Record Locator

Record locator is a unique identifier for travel bookings, crucial for accessing and managing reservation details across various travel services.

Red-Eye Flight

Red-eye flights are overnight flights that depart late at night and arrive the next morning, catering to travelers seeking time-efficient options.

RevPAR

RevPAR, or Revenue Per Available Room, measures hotel revenue efficiency. It's a key metric for assessing performance in the hospitality sector, impacting pricing strategies and revenue management.

Revenge Travel

Revenge travel refers to the surge in travel demand as consumers seek to make up for lost experiences during travel restrictions. This phenomenon is reshaping the travel landscape, driving bookings and spending.

Room Type

Room type refers to the classification of accommodation offerings based on size, amenities, and layout, essential for travel agencies and OTAs to meet customer preferences.

Rooming List

A rooming list is a detailed document that outlines the allocation of hotel rooms to guests, including their preferences and special requests, crucial for travel agencies and TMCs.

S

SOAP APIs

SOAP APIs are protocols for exchanging structured information in web services, facilitating seamless communication between travel systems and applications.

Sabre

Sabre is a leading global distribution system (GDS) that connects travel suppliers with travel agencies, enabling efficient booking and management of travel services.

Seat Pitch

Seat pitch refers to the distance between a point on one seat and the same point on the seat in front of it, crucial for passenger comfort and airline operations.

Security Surcharge

Security surcharge is an additional fee levied by travel companies to cover security-related costs, impacting pricing strategies and customer decisions.

Self-Guided Tour

A self-guided tour is a travel experience where individuals navigate their itinerary independently, often using digital tools for guidance and information.

Skiplagging

Skiplagging is a travel booking strategy where a passenger books a flight with a layover intending to exit at the layover city, saving costs on airfare.

Smart Hotel

Smart hotels leverage technology for enhanced guest experiences through automation, connectivity, and data-driven decision-making, optimizing operations for efficiency and profitability.

Sports Tourism

Sports tourism involves travel to participate in or watch sporting events, combining leisure travel with sports engagement, creating significant economic benefits for destinations.

Static Content

Static content refers to fixed travel information that does not change frequently, such as destination descriptions and pricing, crucial for travel agencies and OTAs.

Staycation

Staycation refers to a vacation spent at home or nearby, emphasizing local experiences over long-distance travel, relevant for travel agencies adapting to changing consumer behaviors.

Stopover

Stopover refers to a planned break in a journey, typically lasting more than 24 hours, allowing travelers to explore an intermediate destination before reaching their final destination.

Suite

A Suite refers to a comprehensive collection of integrated software solutions designed for travel agencies, OTAs, and TMCs to streamline operations, enhance customer experience, and optimize profitability.

Sustainable Tourism

Sustainable tourism refers to travel practices that minimize environmental impact, support local economies, and promote cultural preservation, ensuring long-term viability for destinations.

Switch (Travel Technology)

Switch in travel technology refers to the system that enables seamless integration and management of multiple travel content sources, enhancing operational efficiency and customer experience for travel agencies and OTAs.

T

Timatic

Timatic is a travel information database used by travel agencies and airlines to verify passenger travel document requirements based on their nationality and destination.

Travelport

Travelport is a global distribution system (GDS) facilitating travel bookings and transactions for agencies and suppliers, optimizing travel management processes.

TrevPAR

TRevPAR, or Total Revenue Per Available Room, is a key performance metric for travel businesses, indicating total revenue generated per available room.

U

Ultra-Low-Cost Carrier (ULCC)

Ultra-low-cost carriers (ULCCs) are airlines that offer low fares with fewer amenities. They focus on minimizing operational costs to maximize passenger volume, making travel accessible.

Upselling

Upselling is the sales technique of encouraging customers to purchase additional or upgraded products or services to enhance their travel experience, thereby increasing revenue for travel agencies and OTAs.

V

VAT Reclaim

VAT reclaim refers to the process by which businesses recover Value Added Tax paid on purchases related to their operations. This process is crucial for maximizing profitability and ensuring compliance in travel transactions.

Virtual Credit Card (VCC)

A virtual credit card (VCC) is a digital payment method that provides temporary card numbers for secure transactions, enhancing financial control for travel agencies and TMCs.

W

Wellness Travel

Wellness travel focuses on physical, mental, and spiritual well-being through travel experiences like retreats, spa visits, and holistic activities, catering to health-conscious travelers.

White Label App

A white label app is a customizable software solution that allows travel agencies to brand and sell travel services under their own name, enhancing their market presence and customer experience.

Workation

Workation refers to a blend of work and vacation where professionals can work remotely while enjoying leisure activities in different locations. It enhances work-life balance and productivity.

Y

Yield Management

Yield management is a pricing strategy used in travel businesses to maximize revenue by adjusting prices based on demand fluctuations, market conditions, and customer behavior.