MyRatesMagic®

Base Rate

The lowest available rate for a hotels cheapest room type, i.e. standard room, it can be priced per person or per room. It’s normally priced per room.

BB

An abbreviation describing the board basis or meal plan ‘Bed and Breakfast’. Rooms that are sold including Breakfast.

Best Available Rate (BAR)

The lowest best available rate bookable by all guests. The rate is subject to change on a daily, weekly or monthly basis.

Board Basis

The term if used to describe the meals associated with accommodation. For example, Bed & Breakfast, Half Board, Full Board, All Inclusive, Ultra All Inclusive etc. It is used interchangeably with Meal Plans and means the same thing.

Booking Engine

A hotel website’s booking engine is the software application being used to secure online reservations. Through a series of steps, it allows the customer to select check-in, check-out dates, number of adults, number children and receive availability, content and pricing information for each room type available.

Cancelled Reservations

A term used to describe Hotel reservations cancelled by a customer and the hotel is no longer expecting them to arrive.

Channel

Is a term used to describe any online point of sale. Any OTA is considered a channel; Booking.com is considered an OTA [Online Travel Agent] and is an online channel’ or ‘channel’.

Channel Management (CM)

Software that provides a method for hotels to control the allocation of hotel inventory, rates & restrictions across all distribution channels including brand.com, OTA’s, wholesalers and via the Global Distribution System (GDS).

Channel manager

A channel manager is a software tool that helps a hotel consolidate and manage their rates, inventory and other restrictions such as minimum length of stay and stop sales across multiple sales channels via XML connectivity through a single interface.

Competitive Set

Hotels that are comparable in or around the hotel’s vicinity that compete for guests.

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