Miscellaneous Quiz / CRME Glossary

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Can you name the CRME terms?

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DefinitionGlossary Term
The term used to describe the ability of a consumer to create their own packages by choosing the components of the package as they shop
To ensure an even playing field of pricing or rates across all channels based purely on the price points
The computer system a hotel uses as a tool to assist with the maximization of revenue
Figure derived by adding the total number of room nights and dividing by the total number of bookings
An agent's ability to book the last available room in a hotel
A room inventory control function which indicates that a reservation cannot be confirmed for arrival on this date
Ratio of the hotel's RevPAR devided by the RevPAR of the Competitive Set
The difference between the supplier's selling price and merchant's price offered to the consumer
Figure derived by dividing actual daily revenue by the total number of rooms sold
The practice of confirming reservations beyond capacity, either in expectation of cancellations or no-shows, or in error
Originally, the term used for a Global Distribution System
Figure derived by taking the revenue minus expenses divided by the number of available rooms
A room inventory control function which indicates that a reservation for arrival on a particular date may not extend past a certain number of days
The amount of demand for a hotel in teh absence of any pricing and inventory constraints
The name given to increasingly sophisticated programs to maintain close, lasting relationships between a company and its customers; between a hotel and its guests
The ratio in comparing total occupied rooms with the total occupied rooms within a competitive set
DefinitionGlossary Term
The process by which hotel content is distributed on to multiple distributors who then in turn continue to distribute the content on to other distributors or affiliates.
Total number of rooms in a hotel as a percentage of total rooms within a competitive set
Computerized reservations networks through which users view data on a wide range of travel services, including air, hotel, auto rental and like services
A measurement of efficiency of utilization of meeting space. Similar to RevPar, the higher the occupancy of the meeting rooms
A room inventory control function which indicates that a reservation for arrival on a particular date must be for a minimum number of nights
A term describing close cooperation between competitors to achieve a similar goal - customer satisfaction and increased revenue
The total of all goods and services produced in an economy
The non-qualified, publicly available rate that serves as the baseline for comparision between hotels.
These allow consumers to research and book their own travel through the use of travel Web sites such as Expedia and Orbitz
The daily revenue of a hotel divided by the total number of available rooms at that hotel
The practice airlines, hotels, and car rental companies use to control the supply and price of their inventory to achieve maximum revenue or profit
This is the concept of selling a product in many different channels
The payment that a travel agent receives from a supplier for selling transportation, accommodations, or other services
To ensure even playin gfield of pricing or rates across all channels based on products and fences around rates
The computer system in a hotel that contains information about available and occupied guestrooms, historical and future reservations and guest charges

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