F

Definition

A hotel's individual percentage of the market they should reasonably expect to capture all things being equal based upon their competitive set. Calculated by dividing the subject hotel inventory by the total inventory in the competitive set (inclusive of the subject hotel).

Acronym: FMS

Synonym(s): Revenue Generation Index

An item built into the room or hotel as standard i.e., Keurig coffee maker is a feature of every room at an Indigo hotel.

An outlying area that feeds travellers to your market.

An additional charge imposed by IHG or individual hotels that is applied to the purchase price of a product. (May be a condition of sale).

A restriction which a booking request must meet or overcome in order to qualify for the booking.

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

A descriptive word or phrase for a field or other part of the user interface (UI).

The project name used internally to refer to the partnership between IHG and Amadeus to develop a next-generation Guest Reservation System (GRS). The Project Figaro Team is comprised of global colleagues from IHG and Amadeus tasked with the collaborative design and development of the GRS.

OTAs are increasingly targeting customers by creating promotional offers and schemes. OTAs are asking hotels to fund these by creating special rates that include mobile offers, “targeted deals” and “flash sales”

Term related to legacy systems - HOLIDEX® Plus and PERFORMSM; functionality that accommodates overbooking and class sharing by providing a room type to book into during fragmented inventory situations.

Synonym(s): Sell Through Room Type

Billing receipt the guest receives from the hotel through the Property Management System (PMS) on the day of check-out. There can be multiple folios for each guest. For example, a guest may have one folio for his company-billed charges, and one he must settle himself on departure from the hotel. Each folio can have multiple payment methods.

Synonym(s): Bill, Tab, Check

The ability to sell a reservation even though there is no inventory available to satisfy the request. This allows for an override of the system to force the reservation in.

Acronym: FS

An estimate of expected consumer demand in a product or service over a specific period of time.

Acronym: F/C

The ability to sell sleeping room, meeting room, or non-room inventory at any unit of measure, such as an hourly basis, at a fraction of the total rate.

Synonym(s): Fractional Pricing

Related to fractional pricing and used when an inventory type that normally sells for a daily time period is sold at any unit of measure, such as hourly increments (e.g. hour, ½ day, etc.).

The ability to sell and price sleeping room, meeting room, or non-room inventory on an unit of measure (e.g. hourly) basis at a fraction of the total rate.

Inventory that is not available for consecutive days, either by total availability or by inventory type.

The practice of permitting the confirmation of a specified number of reservations (within specified dates) without reference to the hotel for confirmation, governed by agreed terms and conditions.

Rules that govern what action is required by the guest in order to qualify for a reward and any other parameters that govern qualification.

Synonym(s): Trigger

Rate place which includes Bed, Breakfast, Lunch and Dinner and usually a selection of beverages.

Synonym(s): All Inclusive, Fully Inclusive