A/B testing
A method of comparing two versions of a website or online ad to determine which is more effective. A/B testing is used to make data-driven decisions about design, content, and more.
ADR (Average Daily Rate)
ADR is a metric used in the hospitality industry to measure the average amount a guest pays per night for a room.
Affiliate marketing
Affiliate marketing is a type of performance-based marketing where an advertiser compensates affiliates for generating sales or traffic.
Amazon Web Services (AWS)
AWS bietet als führender cloud-computing Plattform Server, Speicher, Netzwerke, Remote Computing, E-Mail, mobile Entwicklung und Sicherheit.
Analytics
The systematic collection, analysis, and interpretation of data to gain insights into a particular phenomenon. In the context of digital marketing, analytics is used to track website and ad performance, user behavior, and more.
API (Application Programming Interface)
An API is a set of protocols, routines, and tools for building software and applications. It enables communication between different systems and allows developers to access the features or data of an application, operating system, or other services.
ARR (Average Room Rate)
This is the average amount of money a guest pays for a room in a hotel. It is calculated by dividing the total room revenue by the number of rooms sold.
Asia-Pacific (APAC)
APAC is an acronym for the Asia-Pacific region, which encompasses countries such as China, Japan, Australia, and many others in the Asia-Pacific area. In the hospitality industry, this region can be a significant market for growth and investment opportunities.
Back of House (BOH)
BOH refers to all the areas and departments in a hospitality business that do not face the customers, including the kitchen, housekeeping, storage, and administrative offices.
Behavioral targeting
Behavioral targeting is a form of online advertising that delivers advertisements to users based on their online behavior and browsing history.
Bounce rate
The percentage of visitors to a website who leave after only viewing one page. A high bounce rate can indicate that a website is not meeting the needs of its visitors.
Boutique
Boutique is a term used to describe small, intimate, and often stylish hotels that differentiate themselves from larger chain hotels by offering unique and personalized experiences.
Business-to-Business (B2B)
B2B refers to transactions or relationships between two businesses. In the hospitality industry, B2B transactions might include relationships between hotels and wholesalers or between hotels and meeting planners.
Business-to-Consumer (B2C)
B2C refers to transactions or relationships between a business and individual consumers. In the hospitality industry, B2C transactions might include a customer booking a room through an OTA or through a hotel's direct website.
Buyer Persona
A buyer persona is a fictional representation of a company's ideal customer, based on market research and real data about customers.
Capital Expenditures (CAPEX)
CAPEX refers to funds used for purchasing or upgrading assets such as property, buildings, or equipment. This investment is made with the expectation of generating long-term financial returns, and is typically used in the hospitality industry to improve the infrastructure and facilities of a hotel or restaurant.
Chatbots
A chatbot is a computer program designed to simulate conversation with human users, especially over the Internet. They are used to automate customer service and support.
Contextual advertising
Contextual advertising is a form of online advertising that matches advertisements to the context of a website or content. It is based on the keywords or topic of the surrounding content.
Conversion rate
The percentage of visitors to a website who complete a desired action, such as making a purchase or filling out a form. Conversion rate is a key metric for measuring the success of a website or online marketing campaign.
Corporate Social Responsibility (CSR)
CSR is a business's responsibility to consider the impact of its decisions and activities on society and the environment. This includes initiatives such as sustainability, philanthropy, and ethical business practices.
CTA (Call-to-Action)
A call-to-action is a prompt, such as a button or a link, that encourages users to take a specific action, such as filling out a form or making a purchase.
CTR (Click-through rate)
The ratio of clicks to impressions on an online ad, calculated by dividing the number of clicks by the number of impressions. CTR is used to measure the effectiveness of online advertising campaigns.
Customer journey
The series of experiences and interactions that a customer has with a brand, from awareness to purchase and beyond. Understanding the customer journey is critical for creating effective marketing campaigns and improving customer experience.
Destination Management Organization (DMO)
DMO refers to an organization that is responsible for promoting a specific destination and its offerings to travelers. DMOs may focus on specific aspects of the destination, such as tourism, economic development, or cultural preservation.
Diversity, Equity, and Inclusion (DEI)
DEI refers to the intentional and ongoing efforts to create a culture of equity, diversity, and inclusion within a workplace. In the hospitality industry, this can include initiatives such as creating a welcoming and inclusive environment for guests and employees, promoting diversity in hiring and training practices, and addressing systemic barriers to equity and inclusion.
Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA)
Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) is a financial metric used to evaluate the operating performance of a company. It is a measure of a company's financial performance that excludes the impact of financing, taxes, depreciation, and amortization expenses.
Email marketing
Email marketing involves using email to communicate with customers and prospects to promote a product or service.
Engagement rate
The extent to which a user interacts with a website, ad, or other digital content. Engagement rate is used to measure the success of online marketing campaigns and the effectiveness of user experience design.
Equal Employment Opportunity (EEO)
EEO refers to the policy and practice of providing equal opportunities for employment and advancement based on merit, without discrimination on the basis of race, color, religion, sex, national origin, age, or any other prohibited factor. In the hospitality industry, this can impact hiring practices, employee training and development, and other aspects of the workplace culture.
Europe, Middle East, and Africa (EMEA)
EMEA is an acronym for the Europe, Middle East, and Africa region, which encompasses countries such as Germany, the United Kingdom, Egypt, and many others in the region. In the hospitality industry, this region can be a significant market for growth and investment opportunities.
F&B (Food and Beverage)
F&B refers to all the food and drink offerings in a hospitality establishment, including restaurants, bars, cafes, and in-room dining.
Front of House (FOH)
FOH refers to all the areas and departments in a hospitality business that face the customers, including the front desk, restaurant, bar, and event spaces.
Full-Service
Full-service refers to a type of hotel that offers a comprehensive range of services and amenities, including restaurants, bars, room service, fitness facilities, and meeting rooms.
Furniture, Fixtures and Equipment (FFE)
FFE refers to the movable equipment and furnishings used in a hotel or restaurant to enhance the guest experience and maintain the aesthetic of the property. This can include items such as chairs, tables, linens, dishes, and other items used in the day-to-day operations of the establishment.
General Data Protection Regulation (GDPR)
GDPR is a regulation by the European Union (EU) to protect the privacy and personal data of its citizens.
GM (General Manager)
The GM is the top executive in charge of managing a hospitality establishment, responsible for overseeing all operations, finances, and staff.
GM (Gross Margin)
This is the percentage of revenue that is left after deducting the cost of goods sold. In the hotel industry, this would refer to the percentage of room revenue that is left after deducting the cost of operating the rooms.
GMROI (Gross Margin Return on Investment)
This is a metric that measures the return on investment generated by a hotel, expressed as a percentage. It is calculated by dividing the gross margin by the total investment in the hotel.
GOP (Gross Operating Profit)
GOP is the profit made by a hospitality establishment after all operating expenses have been deducted, but before taxes and other non-operating expenses have been taken into account.
GOPPAR (Gross Operating Profit Per Available Room)
This is a metric that measures the operating profit generated by a hotel, expressed as a per-room amount. It is calculated by dividing the gross operating profit by the number of available rooms during a specific period of time.
Heatmaps
Heatmaps are visual representations of data that use color-coding to display the intensity of user activity on a website. They help to understand user behavior and identify areas that need improvement.
Hotel Reputation Management Software
Hotel reputation management software is a specialized tool that helps hotels monitor and enhance their online reputation by analyzing reviews, managing responses, and tracking social media mentions.
Hotel Review Software
Hotel review software is a powerful tool that streamlines the management and analysis of guest reviews, enabling hotels to make data-driven decisions to enhance guest satisfaction and improve their online reputation.
Ideal Customer Profile (ICP)
Ideal Customer Profile (ICP) is a marketing concept that defines the characteristics of a company's most valuable and profitable customers. It represents a detailed description of the company's target market, including demographic information, behaviors, needs, pain points, and buying habits.
Influencer marketing
A form of marketing in which businesses partner with individuals who have a large following on social media to promote their products or services. Influencer marketing is used to reach a wider audience and build brand awareness.
Key Performance Indicator (KPI)
KPI refers to a metric used to evaluate the performance of an organization. In the hospitality industry, KPIs might include measures such as occupancy rate, average daily rate (ADR), or revenue per available room (RevPAR).
Keywords
Words or phrases used by search engines to match search queries with relevant content. Keywords play a crucial role in SEO, as they determine which search results a website will appear in.
Landing pages
Specific pages on a website designed to convert visitors into customers, typically through a form or call-to-action. Landing pages play a crucial role in online advertising and marketing.
Lead
Lead refers to an individual or organization that has shown interest in a product or service offered by a business, and has provided contact information to be contacted in the future for marketing purposes.
LEED (Leadership in Energy and Environmental Design)
LEED is a green building certification program that recognizes best-in-class building strategies and practices. In the hospitality industry, LEED-certified properties are recognized for their environmentally-friendly design and operations.
Letter of Intent (LOI)
LOI is a document that outlines the basic terms and conditions of a proposed business transaction. In the hospitality industry, LOIs are often used to signal a preliminary agreement between two parties before entering into a formal contract.
Limited-Service Restaurant (LRA)
LRA refers to a type of restaurant that offers a limited menu and limited service, often in a fast-food or counter-service format. LRAs are typically less expensive than full-service restaurants and are often found in high-traffic locations such as airports or shopping centers.
LOS (Length of Stay)
This refers to the average number of nights a guest stays in a hotel. It is calculated by dividing the total number of nights stayed by the number of guests.
Marketing Automation
Automated processes used to streamline and improve marketing efforts, such as keyword detection, lead nurturing, and email campaigns.
Meetings, Incentives, Conferences, and Events (MICE)
MICE refers to a type of travel that involves bringing groups of people together for a specific purpose, such as a conference, meeting, or incentive program. In the hospitality industry, MICE travel is often a lucrative segment and can require specialized planning and coordination.
NOI (Net Operating Income)
This is a metric that measures the operating profit generated by a hotel, after deducting operating expenses. It is calculated by subtracting operating expenses from gross operating profit.
Occupancy Rate
Occupancy Rate is a metric used in the hospitality industry to measure the utilization of a hotel's rooms.
Online Travel Agency (OTA)
OTA refers to a website or platform that allows customers to book travel services, such as flights, hotels, and rental cars. These platforms typically aggregate offerings from multiple suppliers and provide customers with a one-stop-shop for their travel needs.
PMS (Property Management System)
A PMS is a software system used to manage the day-to-day operations of a hospitality establishment, including reservations, guest information, and billing.
POS (Point of Sale)
POS refers to the computerized system used to manage sales transactions in a hospitality establishment, typically at the front desk or in the restaurant.
PPC (Pay-per-click)
Refers to an online advertising model in which the advertiser pays each time a user clicks on one of their ads. It is often used in combination with SEO to drive traffic to a website.
Profit & Loss (P&L)
P&L is a financial statement that summarizes a business's revenue, expenses, and profit over a specific period. This statement helps the management track the business's financial performance and make decisions.
Property Improvement Plan (PIP)
PIP refers to a plan of action for improving and upgrading a hotel or restaurant property. This can include items such as renovations, upgrades to equipment, improvements to guest rooms and public spaces, and other initiatives aimed at improving the guest experience and overall operation of the property.
QSR (Quick-Service Restaurant)
A QSR is a type of fast-food restaurant that specializes in serving food quickly and efficiently, typically with a limited menu and self-service ordering.
Remarketing
A marketing strategy in which a business targets customers who have previously interacted with their brand, such as by visiting their website or making a purchase. Remarketing is used to increase brand awareness and drive sales.
Request for Quotation (RFQ)
RFQ refers to a request from a potential customer or buyer for a quotation on specific goods or services. This allows the buyer to compare prices and determine the best option for their needs.
Retargeting
A form of online advertising in which ads are shown to people who have previously interacted with a business or website. Retargeting is used to re-engage with potential customers and increase conversions.
RevPAR (Revenue Per Available Room)
RevPAR is a metric that measures the revenue generated from a hotel room, calculated by multiplying the ADR by the occupancy rate.
RFP (Request for Proposal)
An RFP is a request sent by a potential customer or client to multiple suppliers or vendors, asking for a proposal for goods or services. In the hospitality industry, RFPs are commonly used to solicit proposals from hotels or event venues.
RGI (Revenue Generation Index)
This is a metric that measures the ability of a hotel to generate revenue, expressed as a percentage. It is calculated by dividing the revenue generated by the hotel by the potential revenue that could have been generated by the hotel, if it were operating at full capacity.
ROI (Return on Investment)
ROI is a measure of the financial performance of an investment, calculated as the return divided by the cost of the investment. In the hospitality industry, ROI can be used to measure the performance of a hotel or restaurant.
Room Only Offer (ROO)
ROO is a type of hotel pricing model that offers a basic room rate without including meals, drinks, or other amenities. This is typically less expensive than a full-service offering and is ideal for budget-conscious travelers.
RPIA (Revenue Per In-room Available)
This is a metric that measures the revenue generated by a hotel, expressed as a per-room amount. It is calculated by dividing the total room revenue by the number of in-room available rooms during a specific period of time.
SaaS (Software as a Service)
SaaS is a delivery model for software applications, in which the provider hosts the software and makes it available to customers over the internet. SaaS eliminates the need for customers to install and maintain software on their own computers or servers, and allows them to access the software through a web browser or a thin client. This model typically offers a pay-as-you-go pricing structure, making it a cost-effective and flexible solution for businesses of all sizes.
Select-Service
Select-service refers to a type of hotel that offers limited services and amenities, typically at a lower cost than full-service hotels.
SEO (Search Engine Optimization)
Refers to the process of optimizing a website to rank higher in search engine results and attract more organic traffic. This is done through techniques such as keyword research, on-page optimization, and link building.
Standard Operating Procedure (SOP)
SOP is a document that outlines the specific steps and processes that need to be followed in order to complete a task or achieve a goal. In the hospitality industry, SOPs are often used to ensure consistent and efficient operations.
Target Audience
The specific group of people a business or organization wants to reach with its marketing efforts. Understanding the target audience is critical for effective marketing and communication.
Target Customer
Target customer refers to a specific group of individuals or organizations that a company aims to sell its products or services to. This group is identified based on characteristics such as demographics, behaviors, and buying patterns.
TDR (Total Demand for Rooms)
This is the total number of rooms demanded by guests in a hotel. It is calculated by adding up the number of occupied rooms and the number of rooms that are still available for booking.
Ticketing System
A system for businesses to assign, track and resolve customer requests, ensuring efficient and effective customer support
TOC (Total Operating Cost)
TOC is the total cost of running a hospitality establishment, including direct and indirect costs.
Transportation Security Administration (TSA)
TSA is a U.S. government agency responsible for the security of the transportation systems of the United States, including airports and airlines. In the hospitality industry, TSA regulations and security protocols can impact the travel experiences of guests and can play a role in the overall operation of a hotel or restaurant.
TRevPAR (Total Revenue Per Available Room)
This is a metric that measures the total revenue generated by a hotel, expressed as a per-room amount. It is calculated by dividing the total revenue by the number of available rooms during a specific period of time.
Upscale
Upscale refers to luxury or high-end products or services, often targeted towards affluent customers. In the hospitality industry, upscale properties often offer luxurious amenities, elegant decor, and high-end service.
User experience (UX)
The overall experience of a person using a website, app, or other digital product. UX design considers factors such as usability, accessibility, and enjoyment to create a positive and effective user experience.
User flows
User flows refer to the path a user takes through a website or app to complete a specific goal or task. This helps to understand how users interact with the platform and optimize their experience.
User-generated content (UGC)
Content created by users, such as reviews, social media posts, and forum comments, that can be leveraged by businesses to build their brand and engage with customers.
UTM (Urchin Tracking Module)
UTM parameters are tags added to a URL that help track the source, medium, and campaign of website traffic in analytics software.
YOY (Year-over-Year)
YOY is a measure of growth or decline compared to the same period in the previous year. In the hospitality industry, YOY metrics are often used to track changes in occupancy, ADR, or RevPAR.