R

Definition

The amount charged for a product/service on a per use basis. The rate is what is presented to a guest and is calculated by applying conditions of sale to the price.

A Rate Category in HOLIDEX® Plus consists of a 5-8 character code and name. When associated with a Rate Code, it represents an offer that can be made available to customers. A Rate Category is created for a defined date range, days of week, and the terms and conditions (fences and policies) are governed by a number of rules, all of which are communicated to the customer at time of booking.

A 2-character code in HOLIDEX® Plus, which is assigned a name and associated to a rate category in order to activate a rate. It contains the following: Price by room types or room classes, inventory for each Rate Code (where the PERFORMSM system is not active), Tax Policy, Extra person amount and Yield Management Options that determine how the Rate Code is revenue

managed.

Acronym: RC

Providing consumers a rate that is perceived as the right value for the product offering.

A profile which is set up by rate category and provides additional security and rules by channel, sub-channel, brand and region.

Synonym(s): RLP

The act of creating a new rate (or updating an existing rate) in the HOLIDEX® Plus system and or the hotels Property Management System (PMS).

Synonym(s): Contract Loading

Due to differences in technology, HOLIDEX®PLus and the OTA's system could have an out-of-synch rate condition, where the OTA may have an outdated rate in their system. Should this occur, there is a possibility that this rate could be booked. Rooms will not be oversold, but an outdated rate might be booked (only available with Expedia and Booking.com).

Combination of inventory, price, and the rules that may affect: price, access to the rate plan, availability of the inventory itself.

The module or structure that holds the price and conditions of sale.

Acronym: Rate PAC

A price rounded up, down, or to the nearest amount according to pre-specified rules, set by the property, before displaying it to the customer as the offer rate.

Synonym(s): Pretty Pricing

A Rational Pricing structure ensures that there is an identifiable and reasonable explanation for differences in rate offers, and the difference in rate offers clearly communicates a value proposition. Customers should be able to quickly identify the difference in rates due to the difference in the offer.

An area of the world having definable characteristics but not always fixed boundaries. IHG defines these regions of the world to meet its business needs. Currently these regions are Americas (AMER), Europe, Greater China (GC) and Asia Middle East and Africa (AMEA).

Instances where a shopping journey is not completed because the customer stops shopping for any reason; anytime a customer attempting to book is presented with an offer but does not purchase/book.

An identifier assigned to a regret transaction indicating where in the reservation process the customer was when they abandoned the reservation. All regrets will be assigned a regret code.

An identifier assigned to the Regret transaction, either manually by the customer or automatically, based on business rules indicating why the reservation offer was not accepted. If the regret reason cannot be determined with a high level of confidence no regret reason will be assigned. Not all regrets will have a regret reason.

The date on which allocated group inventory that is unused is returned to general availability.

Synonym(s): Cut-Off Date

The time at which allocated group inventory that is unused is returned to general availability.

A working environment which replicates the functionality of the production environment and may include different functionality for testing, training, or analytical purposes.

Synonym(s): Training Environment

A solicitation made through a bidding process by an agency or company interested in procurement of a commodity, service or valuable asset, to potential suppliers to submit business proposals.

Acronym: RFP

An identifier for a specific partner. It allows identification of partners who come through an intermediary. It differs from the Channel ID as it provides a deeper level of specificity.

Synonym(s): Channel ID

An arrangement used to secure hotel related products such as rooms, non-room inventory or meetings rooms.

Synonym(s): Booking, Confirmation

Refers to four options available to hotels that participate in IHG Voice to have their reservations adjusted by a Support team including Group Force Sell, Group Shoulder Dates, Extended Stay and Cancel Force Sell.

The core elements of a reservation, comprised of four components: Guest Profile, Booking Profile, Reservation Details and Guarantee/Payment Method.

One of the four core components of a reservation. This contains all of the details about what the guest has purchased on the current reservation including the dates, the location, the offer booked, etc.

All interactions between a guest and IHG from the first point of inquiry, shopping, booking, (and all changes in between), and finally capturing the accurate transactional elements of the completed purchase.

The information sent to a hotel that contains all Guest Name Record (GNR) content as well as customised values related to the guest’s stay that will help prepare for a guest and deliver a customised experience.

A message sent from the booking channel to the Guest Reservation System (GRS) to obtain a confirmation number. This occurs at the point when a guest chooses and submits a specific hotel, product, rate, and date.

Initiated by a reservation request and generates a regret, denial or booking.

Rates available for general sale and not restricted by conditions limiting access to certain segments.

Synonym(s): Best Flexible Rate

Legacy forecasting and budget tool, which has since been replaced by the Strategic Business and Revenue Planning tool (SBRP).

Acronym: RBI

A measurement of a hotel’s fair market share within its competitive set. The formula is (Hotel RevPAR / CompSet RevPAR) x 100 = RevPAR Index. Anything below 100 indicates that the hotel is getting less than it's fair share of revenue.

Acronym: RGI

Synonym(s): RevPAR Index

A service which offers IHG hotels dedicated Revenue Management expertise to formulate, recommend and implement revenue strategies.

Acronym: RMH

The revenue management indicators are a set of measures that help revenue managers better understand the effectiveness of their revenue management practices and take action to improve performance that will contribute towards Revenue Generation Index (RGI) performance and growth in profitability.

Acronym: RMI

A system that optimises revenue through complex analytics, and may include forecasting, pricing and yield management.

Acronym: RMS

Synonym(s): PERFORMSM

A measure of performance that identifies the amount of revenue generated by each customer. The formula is: Total Revenue / Number of Customers = RevPAC.

Acronym: RPAC or RevPAC

A measure of performance that identifies the rooms revenue yield a property achieves relative to the rooms available in the property for a period. RevPAR is calculated as follows: Total Rooms Revenue / Rooms Available = RevPAR.

Acronym: RevPAR

A room being occupied by one or more guests for one night.

Acronym: RN

Rate plan that includes only the sleeping room.

Acronym: RO

The up-to-date (actual) state (occupied, vacant, dirty) of the hotel's individual guest rooms.

That state of a sleeping room (e.g. occupied, vacant, dirty, clean).

A list of individuals with a group or allocation.

The total number of rooms that a hotel has available for general sale for any given date or period.

Acronym: RA

The number of rooms blocked for groups combined with the number of confirmed transient reservations in the Guest Reservation System (GRS).

Acronym: RC

The number of rooms currently deducted from available inventory due to active reservations.

Acronym: RS

The process of splitting charges on a guest folio for settlement under different payment types (e.g. room and tax to company’s direct billing account, and all other charges to guest’s own credit card).

A pseudo inventory type created to accommodate overbooking and class sharing; assumes the total capacity of the product.

Synonym(s): Flow Through Room Type