A - Glossary

What is acquisition cost? In the context of hospitality revenue management, the acquisition cost term may apply to either a customer or an organization.

What is an action plan? In the context of the hospitality industry, an action plan is a calendar used for planning and assigning tasks to be completed over the course of a year.

What is an Airline Reservation System? An airline reservation system is an automated system for taking airline reservations. It is commonly referred to as ARS.

What is an ancillary purchase? Ancillary purchase is a supplementary or additional purchase made in a series of transactions.

What are antitrust laws? Antitrust laws are laws designed to prevent restraints on trade. These laws were enacted in the late 1800s to protect both consumers and businesses.

What is ARS? In the context of hospitality revenue management, ARS refers to Airline Reservation System.

What is an auction site? An auction site is a website on which the price of a product or service is determined by the winning bid.

What is Average Channel Contribution? Average Channel Contribution is the value determined by dividing the total revenue generated by the channel by the total number of transactions it completed.

What is Average Daily Rate? Average Daily Rate is the value calculated by dividing rooms revenue by the number of rooms sold.

What is B2B? B2B stand for Business-to-Business.

What is B2C? B2C stands for Business-to-Consumer.

What are early adopters? Early adopters are consumers who strive to be the first to try any new product or service.