REVinsight

A period (a season, month, day, or time of day) when demand is great. From the
perspective of hotel revenue management, a hot period is when rates can be set
higher and length-of-stay controls can be used to improve RevPAR.

Indirect control by the hotel over duration of use by the guest or potential guest.
Internal controls include courtesy calls that serve as reservation reminders and
the requirements that guests record a departure date at check-in.

All controls, internal and external, that regulate duration of use.

Individuals who, having reserved a room at a hotel or a table at a restaurant, never arrive.

A commercial model that sets one price for an entire inventory regardless of the
variation of demand for certain features or variation of consumer profiles.

An approach to pricing that introduces variations in price not associated with differences in the quality of the product or service nor with the cost of production.

A tactic used to segment customers into market groups based on their willingness to pay, their purchasing behavior, or their needs.

In hotel revenue management, the following rate fences may be used as part of a variable-pricing strategy:

- Physical rate fences (location, view, amenities).
- Product-line rate fences (top of the line vs. bargain).
- Controlled-availability rate fences (coupons, those who ask).
- Buyer-characteristics rate fences (seniors, kids, group membership).

The price customers think a service (or product) should cost. Reference prices may be based on the price last paid, the price most frequently paid, the price other customers say they paid for similar offerings, or on market prices and posted prices.

Revenue per available time-based inventory unit. RevPAR and RevPASH are industry-specific variations on this all-inclusive measure, which is calculated differently in different contexts and is used in all applications of revenue management to analyze a business's ability to maximize its revenue capacity.

Markets composed of various classes of consumers, differentiated by how much
they are willing to pay for a product or service, by age, by frequency of purchase,
or by affiliation with potentially profitable groups.

In the leasing or renting of a product, any unit of time for which that product is made available, including minutes, hours, days, and weeks.

Pricing that is sensitive to the nature of the products offered (such as scenic
views or wheelchair accessibility of hotel rooms or time of day of telephone
service) or the customer profile (such as budget-conscious, elite, or affiliated with
a potentially profitable group).