This glossary explains key terms in RevControl, such as ADR, BAR, Pickup, and RevPAR. It helps users understand how RevControl works and how different data and settings influence hotel occupancy and rates.
Actuals - The actual occupancy and revenue achieved by the hotel during a specific period.
Average Daily Rate (ADR) - Total room revenue divided by the number of occupied rooms.
Auto Publish - A setting where prices are automatically sent out after a specified number of days.
Best Available Rate (BAR) - The base rate on which other room types are based, often the cheapest non-refundable rate.
Booking channels - The different channels where guests can make a reservation.
Budget - The goals the hotel aims to achieve.
Bulk update - Manually adjusting the price, minimum length of stay (MinLOS), and lock for multiple days at once for a specific period.
Business on the Books (BOB) - The reservations a hotel has for a specific period.
Channel manager - The system to which RevControl sends prices, MinLOS, and open/close restrictions.
Combined Recommended Rate - The rate RevControl advises based on the ‘Business Rules’.
Competitor Based Recommended Rate - The rate RevControl advises based on the Competitor Index.
Competitor Index - The setting where the hotel and its competitors are compared.
Competitor Set (CompSet) - A group of hotels considered direct competitors of the given hotel.
F&B Revenue - Revenue from food and beverage, linked to a room.
Financial Year Period - A twelve-month period for calculating budget, revenue, and loss.
Forecast - The expected occupancy based on Actuals, last year’s BOB, and this year’s BOB.
Hurdle - Steps in the expected occupancy.
KPI - Key Performance Indicator. Indicators that show the hotel’s performance.
Lead time - The difference between the booking date and the arrival date.
Logs - An overview of all price changes made.
Market demand - The demand in the entire market, e.g., in a city.
(Market) segment - Different groups of bookers.
Maximum Daily Rate - The maximum rate RevControl uses.
Meal Plan - The option to show prices including or excluding meals.
Minimum Daily Rate - The lowest rate RevControl will use.
Minimum Length of Stay (MLOS) - A restriction requiring guests to stay longer, generating more revenue.
Non-refundable - Reservations that must be paid in advance and cannot be canceled.
Occupancy (OCC) - The number of occupied rooms divided by the total number of rooms.
Occupancy Based Recommended Rate - The recommended rate based on the Minimum Daily Rate and Occupancy Supplements.
Occupancy Supplements - Supplements added to the minimum rate, based on expected occupancy.
OTA - Online Travel Agency, such as booking.com or Expedia.
Pickup - The reservations made or canceled during a specific period.
Pickup Threshold - The minimum number of reservations/cancellations required to be displayed in the Pickup Alert.
PMS - Property Management System: the reservation system.
Published Rate - The rate sent by RevControl to the PMS or channel manager.
Rate - The price of a rentable unit such as a hotel room, bed, apartment, etc.
Rate Bucket - Rate plans that open or close based on business rules.
Rate Parity Check - A tool to check if hotel rooms have the same price across different booking channels.
Rates table - An overview of all competitor prices.
Recommended Rate - The advised rate based on the Occupancy-based Recommended Rate and Competitor-based Recommended Rate.
Room Revenue (REV) - Total revenue from lodging, equal to the average room rate multiplied by the number of occupied rooms.
Revenue Manager - The person responsible for setting hotel room prices.
Revenue Per Available Room (RevPAR) - Total room revenue divided by the total number of rooms.
Rate Shopper - A tool used to compare competitor prices.
Room Nights (RN) - The number of occupied rooms.
Room Type Availability - The number of unoccupied rooms.
SU - Abbreviation for ‘Segment Undefined’, reservations without a segment specified in the PMS.