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RACK RATE:

It's the regular published rate of a hotel or other travel service

REPEAT TRANSACTIONS:

A repeat payment allows you to process another transaction using the details of a customer that is already on your account

RESPONSIBILITY CLAUSE:

That section of a brochure that spells out the conditions under which a tour is sold

REVENUE MANAGEMENT:

A management approach to optimising revenue, often based on managing revenues around capacity and timing, for different market segments or from different sources of funding.

REQUEST FOR PROPOSALS (RFP):

Document containing the services and requirements for an event that is sent to hotels to solicit a bid

REVPAR:

Revenue per available room calculated on the number of rooms available to sell in a hotel

ROOM SERVICE:

Food or beverages served in a guest’s room.

ROOMING LIST:

The names of a group that are organized by room, indicating who is rooming with whom.

SALES:

Revenue from ordinary activities

SAME DAY VISITOR:

Also referred as an excursionist. A visitor without an overnight stay, meaning that the arrival and departure occurs in the same calendar day.

SEASONALITY:

A phenomenon created by either tourism supply or demand (or both) changing according to the time of the year.

SERVICE CHARGE:

A specified percentage of a hotel’s daily rate (usually 10% or 15 %) charged to the guest, who in return is relieved of the responsibility for tipping.

SERVICE:

Non-physical, intangible attributes that management controls, including friendliness, efficiency, attitude, professionalism, and responsiveness.

SEARCH ENGINE MARKETING (SEM):

A marketing tactic which use paid services so that interested clients and customers can reach a business quicker and easier than ever before

SEARCH ENGINE OPTIMIZATION (SEO):

A tactic which incorporates highly-targeted keywords into website content to make it more visible in search engine results

SECURITY DEPOSIT:

A refundable amount that covers any damages to the room or property

SGL:

Refers to a single room, only one adult can be in this room. It's an abbreviation used commonly on the rooming list

SINGLE SUPPLEMENT:

An extra charge assessed to a tour purchased for single accommodations It is an additional sum of money that a hotel charges for one person to stay in a room meant for two people

STAKEHOLDER:

Any person, group or organization with an interest in, or who may be affected by, the activities of another organization

TARIFF:

Rate quoted and published by a travel industry supplier

TARGET MARKET:

The group of customers who will be the specific focus of a company ’ s marketing efforts.

TOUR BASING FARE:

A reduced-rate excursion fare available only to those who buy prepaid tours or packages.

TOUR DEPARTURE:

The date of the start by any individual or group of a tour program, also used in referral to the entire operation of that single tour.

TOUR LEADER (TL):

The tour company staff member or independent contractor who conducts the tour

TOURISM ORGANIZATION:

An organization which helps travelers plan trips while at the same time promoting businesses in a particular area

TOUR OPERATOR:

A person or company who operates a tour for travelers who are visiting TOUR: Any pre-arranged journey to one or more destinations.

TOUR VOUCHERS:

Documents issued by tour operators to be exchanged for tour components, also called coupons

TOURISM:

The term for the movement of people to destinations away from their place of residence for any reason other than following an occupation for a period of 24 hours or more.

TOURIST:

One travelling to and staying in places outside their usual environment for not more than one consecutive year for leisure, business and other purposes

TPL:

Refers to a triple room where 3 adults stay in the same room and can be accompanied by up to one minor.

TRANSIT VISA:

Visa allowing the holder to stop over in a country to make a travel connection or brief visit.

TRAVEL GUIDE:

A guide that offers insight to the various things to do in a particular location. They often highlight tours, hotels, restaurants, activities and other local areas that should be visited

TRAVEL AGENT/AGENCY:

A person or firm qualified to arrange for all travel components

TRANSIT:

Process of changing planes without going through security and/or customs

UNRESTRICTED FARE:

A fee that an airline will charge for a flight without any discounts associated with it This is considered the base price of the flight and is used for comparison when discounts are applied to the final cost

UNRESTRICTED RATE:

This is the term that businesses in the tourism industry use to describe their base price Essentially, the unrestricted rate is the fee for a service without any discounts associated with it. This is sometimes also referred to as the rack rate

UPGRADE:

To move to a better accommodation or class of service.

VAT:

Acronym for value-added tax, a tax system which adds a fixed percentage of taxation on products and services at each step of production or service delivery.

VERY IMPORTANT PERSON (VIP):

Individual who should receive special or elevated treatment based on their role or relationship to an event.

VISA WAIVER:

A program to eliminate the visa requirement for selected countries

VISA:

A stamp of approval recorded in a passport to enter a country for a specific purpose In Israel, only select countries have to tramit a visa prior to visiting the country, otherwise, the visa is a small blue paper that is given to tourists when they arrive.

VISITORS INFORMATION CENTRE:

A spot in most tourist destinations that provides information to visitors and answers their questions. You can typically find brochures as well as other service information here

VOUCHER:

A voucher is a bond of the redeemable transaction type which is of equivalent value of the advertised tour price

WAITING LIST:

A list that allows you to capture demand from interested guests even when your listing is fully booked This means that if you have a lastminute opening due to a cancellation, you can turn to whoever is next in line on your waitlist to fill the spot

WALK: Moving guests to a nearby hotel when overbooking occurs.

WAIVER:

A document used as risk management technique where the responsibility for the risk is transferred to the participant through a signed contract and voluntary acceptance of the perceived risk

WHOLESALER: A third-party organization that sells hotel rooms such as sites, distribution channels, extranets, or merchants

WORLD HERITAGE SITE:

A site designated by UNESCO as being of special historical, cultural or natural importance.

YIELD MANAGEMENT:

Yield management is a complex science used by accommodation and airlines for decades. In short, it is increasing or decreasing the price based on demand