B

Definition

A document outlining all event logistics and instructions a venue (i.e. hotel, restaurant, conference centre, etc.) would need to successfully execute an event. A BEO details the time of event, setup of the space, menu selections, audio visual requirements and may be used in lieu of a contract for short-term, catering only business.

Acronym: BEO

Synonym(s): Event Resume

Price for a product before the value of any attributes has been added. The Revenue Management System (RMS) will recommend the base price.

Synonym(s): Price

As part of IHG's Pricing Principles, the Best Flexible Rate (BFR) is IHG's benchmark room rate from which all dynamic/discounted rates are derived.

Acronym: BFR

IHG's promise that its direct channels (e.g. web, mobile, etc.) will always offer the lowest price on any publicly available sleeping room. IHG compensates guests who find a lower room rate elsewhere.

Acronym: BPG

The minimum amount of revenue that you can expect to make from the last unit of capacity available for sale. A minimum “cut-off” value required to accept a booking request. This price must be met in order for a reservation to be made.

Synonym(s): Hurdle Point

An arrangement with a hotel's accounting department to bill an organisation directly for all charges incurred by a guest or meeting.

Synonym(s): Direct Billing, Bill to Master

An inventory control measure protecting hotel availability on dates that generate high demand patterns in an area and control which rates can be offered.

A unique identifier for group blocks that is attached to any group booking managed as part of that block.

A subset of general Inventory used when a group, wholesaler, or any other piece of business needs inventory types specifically reserved for them.

Acronym: PAC, BIPAC

Primarily a non yieldable rate given to a set number (or block) of rooms held for a particular group.

Synonym(s): Group Pricing

An IHG® Rewards Club loyalty offering, which allows guests to receive additional points for their stay.

Acronym: BPP

IHG's initiative to encourage people to book their stay through our direct channels (CRO and brand.com), rather than indirect channels like Global Distribution Systems (GDS) and Online Travel Agencies (OTA). The cost of sale for bookings made through our direct channels, on average is less than bookings made on our indirect channels, resulting in more profitable revenue delivery for our hotels and IHG.

Includes the cost of renting accommodations in other properties when a decision is made to move a guest to another property because of a lack of available rooms. This also includes any incidental costs gratuities, or compensation paid in connection with these circumstances. This could also apply to meeting and non-room inventory products.

Synonym(s): Walk, Walking a Guest, Guest Relocation

An individual reserving a product or service at an IHG hotel.

Synonym(s): Guest, Customer

An offer has been selected, a guest record has been created and a confirmation has been issued.

Synonym(s): Reservation, Reserving

A classification of distribution that describes how the results of customers/guests who shop and buy hotel products and services reaches the Guest Reservations System.

Synonym(s): Channel

The number of confirmed bookings within defined parameters (e.g. time period, booking channel) divided by the number potential bookings within the same parameters.

An important tool for yielding that provides a visual representation of the pickup, number of bookings, availability, and yielding capacity of the hotel over time.

Synonym(s): Booking pace

Rules or terms and conditions that apply to reserving, amending or cancelling hotel products and services [which may include benefits and penalties].

Synonym(s): Reservation Policy, Condition of Sale, Condition of Product

One of the four core components of a reservation. This contains all of the necessary information about the guest for a particular stay. This will include information such as company information, group information, the source of the reservation, who booked the reservation, etc. There may be multiple Booking Profiles attached to one reservation.

An identifier that indicates who made a reservation and where the business comes from by individual or organisation type.

The number of days before arrival that a particular type of reservation is typically booked.

A way of grouping guests and/or hotels by brand (e.g. Holiday Inn®, InterContinental® Hotels & Resorts), that enables IHG identify the needs of each brand's guests/hotels and to tailor its products and services to meet those needs.

An attribute reflecting level of comfort or luxury and room size, and design & fixtures and 'soft features'. Based on demonstrable increases in sleeping room size and level of comfort.

Smaller group sessions, formed to focus on specific subjects, that are held as part of a main larger meeting.

Acronym: BO

Synonym(s): Break-out sessions, Concurrent Sessions, Break-out meeting, Workshop session

The stage of a property record during which the initial record is being updated and prepared for use by a property.

Synonym(s): Configure, Setup

IHG's payment card product that can be used by IHG clients to pay for hotel room nights.

A set of key metrics used by a hotel team to assess how busy the property is likely to be for a given date or date range (e.g. occupancy, sold counts of meeting space, available spa services, etc.)

A specific directive that supports an IHG business policy and can be defined as a formula with testable results.

A travel service that provides booking services to companies, some of whom may also be IHG managed accounts.

Acronym: BTA

Synonym(s): Travel Management Companies