Hospitality ABC

All Inclusive refers to a type of board plan in which the price includes not only the accommodation, but also meals, drinks, and extra services such as recreational activities and use of hotel facilities. The goal is to offer guests the best possible experience, without additional costs.

An allotment is an agreement between a hotel and a travel agency or tour operator, whereby the hotel reserves a certain number of rooms for a specific time period. The agency can sell these rooms up to a certain date (release date), after which any unsold rooms become available again to the hotel.

Arrival refers to the moment a guest arrives at the hotel to begin their stay. This term is linked to the check-in process during which the guest is welcomed, registered and escorted to their room.

Indicates the number of rooms available on a given date or date range. Availability information is used in booking systems to show guests available options, manage distribution across sales channels, and avoid overbooking.

BAR (Best Available Rate) refers to the lowest publicly available rate for a room on a specific date. As it is the lowest rate, it often comes with a series of restrictions, such as being non-refundable and requiring prepayment.

The BUR (best unrestricted rate) is the lowest available rate without restrictions, such as minimum stay or non-refundable conditions. It provides guests with flexibility, allowing them to modify or cancel their reservation without penalties, and is different from promotional or discounted rates.

Bed & Breakfast (B&B) refers both to a board plan that includes accommodation and breakfast, and to a type of lodging that offers hospitality exclusively with this arrangement, often in family-run or small-scale establishments.

Blackout dates are specific dates during which certain rates, promotions, or agreements are not available. They often coincide with periods of high demand (peak season, special events, holidays, etc.). On these dates, the hotel may apply booking restrictions or higher rates.

A blocked date is a specific day on which certain rooms are unavailable for sale, for example due to maintenance work, group bookings, or operational requirements. Blocked dates help manage availability and ensure the quality of service.

Board plan refers to the type of meal arrangements included with a stay. The most common options are: Room Only (overnight stay only), Bed & Breakfast (breakfast included), Half Board (breakfast and another meal), Full Board (all meals included) and All Inclusive.

A booking curve is a chart that shows how bookings for a specific date accumulate as the stay approaches. Used in Revenue Management, it helps understand how far in advance guests book and can assist in planning pricing and availability.

Booking pace refers to the speed at which a hotel receives reservations over a given period relative to the arrival date, allowing for real-time analysis of future sales trends in relation to historical data.

Booking window refers to the number of days between the date a reservation is made and the guest’s arrival date at the hotel. In other words, it indicates how far in advance a guest books their stay. 

The bottom rate is the minimum rate below which a hotel decides not to sell its rooms, even during low occupancy or last-minute situations. It represents the lowest price necessary to cover costs while ensuring an acceptable profit margin.

A boutique hotel is a small-scale property characterized by carefully curated design, an intimate atmosphere, and personalized service. It offers exclusive experiences and attention to detail, focusing on style, comfort, and authenticity to stand out from traditional hotels.

Bulk update refers to the simultaneous modification of multiple data points or settings within a management system, such as a PMS or channel manager. In the hotel industry, it enables rapid updates of rates, availability, or restrictions across multiple dates and sales channels.

Business to Business (B2B) refers to transactions and commercial relationships that take place between companies. In the hotel and hospitality industry, it denotes partnerships with travel agencies, tour operators, corporate travel companies and service providers.

Business to Consumer (B2C) refers to commercial transactions between a company and its end customers. In the hotel and hospitality industry, it relates to sales and marketing activities directed at guests, such as booking through the website, dedicated promotions and loyalty programs.

The buyer’s journey is the process that leads a potential guest from the initial recognition of a travel need to completing a reservation. It generally includes three stages: Awareness, Consideration, and Decision.

CO (Cut off) indicates the latest time by which a reservation can be made or modified before the arrival date. Once the deadline has passed, the hotel may close availability or apply restrictions.

The cancellation policy defines the conditions under which a guest can cancel a reservation. It may include free cancellations within a certain number of days prior to check-in, any applicable penalties, or the option to modify dates without charge

Capacity defines the maximum number of guests a lodging property can accommodate based on the availability of rooms and beds. It can refer to the total capacity of the hotel or to the capacity of specific areas, such as meeting rooms or restaurants.

Channel management is the process of managing and distributing hotel rooms across multiple sales channels, such as OTAs, the hotel website, and travel agencies. Proper management ensures consistency of rates and availability, reduces the risk of overbooking, and maximizes revenue.

The children policy defines the rules applied by the hotel for hosting children. It includes guidelines on minimum and maximum ages for using beds or cribs, extra charges, dedicated services, and conditions for free stays. It helps manage expectations and enhances the family guest experience.

The city tax is a local tax paid by guests staying in lodging properties in municipalities where the tax is enforced. The amount varies based on the property category, length of stay, and location. It is collected by the property and then remitted to the local authority.

Closed to arrival (CTA) is a restriction that prevents check-in on a specific date, while still allowing stays if the reservation includes preceding nights. Hotels use this strategy to optimize occupancy during periods of high demand or special events.

Closed to departure (CTD) is a restriction that prevents check-out on a specific date. Guests may stay on that date but must extend their stay to a later date. It is used to increase the average length of stay during periods of high demand.

A commission is the percentage of a booking’s value that the hotel pays to intermediaries, such as travel agencies, OTAs, or tour operators, for each reservation generated. The commission rate varies based on commercial agreements and the sales channel used. 

Complimentary refers to a service or product offered free of charge by the hotel, such as breakfast, beverages, room upgrades, spa services, or other guest amenities. It is used to add value, enhance the guest experience, and foster loyalty.

A Complimentary room is a room provided free of charge by the hotel to specific guests or partners. It may be granted for promotional purposes, as a gift to loyal customers, to maintain business relationships, or as compensation for service issues. 

A Compset, short for competitive set, is the group of direct competitors a lodging property uses to benchmark its performance, rates, and market positioning. It includes competitors located in the same area with similar services, target audience, and price range.

A conference is a formal event organized to bring together people with shared interests or objectives, usually related to professional or academic fields. In hotels, conferences require equipped spaces such as meeting rooms, catering services, and technical support.

The conversion rate is the percentage of users who complete a booking compared to the total number of visitors browsing the hotel’s website, booking engine, or a specific offer. It measures how many people move from interest to action, becoming actual customers.

Corporate guests are business travelers who stay in hotels for work-related reasons, such as business trips, meetings, or conferences. This segment requires specific services, such as high-speed Wi-Fi, meeting rooms, flexible schedules, and dedicated corporate rates.

A cottage is an independent accommodation, often located in rural or natural settings. It offers private spaces such as a kitchen, living room, and bedrooms, with a cozy and traditional style, and is favored by those seeking privacy and an immersive stay in the local area.

Cross-sell, or cross-selling, is a technique that consists of offering guests complementary services or products in addition to the ones they already purchased. In hotels, this may include breakfast, a massage, reserved parking, or guided excursions.

DBA (days before arrival) indicates the number of days between the booking date and the guest’s arrival. This parameter helps analyze booking habits and define pricing strategies, promotions, or restrictions based on how far in advance reservations are made.

DUS, in Italian doppia uso singolo, or double room for single use, refers to a double room used by a single guest. It provides more space and comfort compared to a single room, and usually has a higher rate than a single room, but lower than a double room for two people. 

Day use refers to the option of booking a hotel room to use only during the day, without staying overnight. 

Demand refers to the number of rooms requested by travelers during a specific period of time. It’s influenced by factors such as seasonality, events, holidays, and travel trends. Analyzing demand helps the hotel forecast occupancy and define effective pricing and distribution strategies.

Departure is the moment when a guest leaves the property at the end of their stay, completing the check-out process. In plural form, departures refers to the total number of check-outs expected on a specific day.

A deposit is an amount of money requested by the hotel as a guarantee at the time of booking. It can be a percentage of the total cost or a fixed amount, and is used to protect the property in case of late cancellations or no-shows. 

Direct booking is a reservation made by the guest through the hotel’s direct channels (such as the official website, phone, email, or social media), without the intermediation of OTAs or travel agents.

Displacement analysis is used to evaluate whether it is more profitable to accept a group booking by comparing the revenue generated by the group with the potential revenue from individual bookings. The goal is to determine whether the group displaces more lucrative reservations or brings real added value.

A distribution channel is the means through which a hotel sells its rooms to guests. It can include direct channels, such as the official website and telephone booking, and indirect channels, such as OTAs, travel agencies, and tour operators.

The distribution mix is ​​the set of different channels through which a hotel sells its rooms. It includes direct channels (such as the official website, email, telephone) and indirect channels (such as OTAs, agencies, and tour operators). 

A dormitory room is a type of shared room, typical of hostels or low-cost accommodations, featuring multiple beds, often bunk beds. Guests share the space and, in many cases, even the bathroom.

Dynamic pricing is a strategy that adjusts room rates in real time based on demand, seasonality, competition, and events. The goal is to maximize revenue by optimizing prices according to market fluctuations and customer behavior.

Early bird is a special offer or rate proposed by hotels or tour operators to incentivize bookings made well in advance. It provides discounts or exclusive benefits for guests who book earlier than others, often during specific time windows.

Early booking refers to a reservation made well in advance of the arrival date. Hotels encourage it with discounted rates or extra benefits, securing a more stable occupancy base and enabling more effective operational planning.

End of day (EOD) indicates the moment when the hotel’s operational day is officially closed in the management system. During EOD, all transactions of the day are recorded and consolidated, availability is updated, and statistics are generated. 

Estimated time of arrival (ETA) is the time provided by the guest or estimated by the hotel for check-in. Knowing it allows the hotel to better organize the welcome, prepare the room, and manage any extra services related to arrival.

Exhibition refers to an event dedicated to the display of products, services, or works to a specific audience. In the hotel sector, it indicates situations that generate high demand for accommodation, for both business and leisure clients.

Extranet is a reserved online platform that allows hotels to manage their information on distribution channels such as OTAs. Through the extranet, the hotel can update rates, availability, booking conditions, and view sales statistics. 

F&B (Food & Beverage) refers to the hotel department responsible for managing all food and beverage services. It includes restaurants, bars, room service, event catering, and banquets. 

FB (full board) is a stay plan that includes accommodation and three meals per day: breakfast, lunch, and dinner. Beverages may be included or excluded depending on the hotel’s policy.

The FIT rate (for individual travelers) is a rate reserved for individual guests, distinct from group or corporate rates. It is generally negotiated with tour operators and travel agencies, who use it to offer packages or individual sales to their clients.

A Fenced Rate is a discounted rate accessible only to guests who meet certain conditions or restrictions, called fences. It’s used to offer lower prices to price-sensitive guests while protecting standard rates.

A flash sale is a promotion with significant discounts, valid only for a limited time. In hotels, it’s used to create urgency and quickly increase bookings, especially during low occupancy periods or to sell remaining available rooms.

The hotel folio is an accounting document that summarizes all expenses incurred by a guest during their stay, including accommodation, food and beverage, extra services, and taxes. Presented at check-out, it ensures cost transparency and serves as the basis for final payment.

Forecast is the projection that, through analysis of historical data and current trends, estimates future demand, occupancy, and revenue. In hotels, it is a key tool for setting rates, managing resources, and planning promotions, maximizing occupancy and profits.

Forecasting is the continuous process of analyzing and predicting future occupancy, demand, and revenue. It’s based on historical data, market trends, and scheduled events, and supports sales strategies, rate setting, and optimal resource management in hotels.

Foreign inbound traveler (FIT) refers to an international tourist traveling individually to a destination for leisure, business, or other purposes, distinct from domestic travelers or organized groups.

The front desk, or reception, is the hotel area dedicated to welcoming and assisting guests. Key activities include check-in, check-out, reservation management, and providing information. 

The General Data Protection Regulation (GDPR) is the European regulation that governs the protection of personal data of EU citizens. Hotels must comply, ensuring proper collection, processing, and storage of guest data in accordance with the law.

The Global Distribution System (GDS) is an electronic platform that allows travel agencies and tour operators to access real-time hotel, flight, and other service availability, rates, and bookings, facilitating global distribution.

A group reservation is a booking for a large number of guests staying together, for example for corporate events, weddings, or organized trips. It includes dedicated rates, specific cancellation policies, and additional services.

The guest experience is the sum of perceptions and interactions a guest has with a hotel, from the initial booking to after check-out. It is not limited to the stay itself but includes every contact, whether digital, phone, or in person.

The Guest satisfaction index (GSI) is a quantitative indicator measuring guest satisfaction with their hotel experience. It is calculated by aggregating surveys, reviews, and post-stay ratings.

HB (half board) is a stay plan that includes accommodation, breakfast, and one main meal, usually dinner. Drinks may be included or excluded depending on the hotel’s policy.

A hostel is an economical lodging facility offering shared accommodations, such as dormitories with bunk beds, as well as private rooms. It features common areas like kitchens and lounges, encouraging guest interaction and providing solutions suitable for low-budget travelers or groups.

A hotel chain is a group of hotels operating under the same brand or ownership, sharing the same quality standards, services, and marketing strategies. Well-known examples include Marriott, Hilton, and Accor.

Housekeeping is the hotel department responsible for cleaning, tidiness, and maintenance of guest rooms and common areas, ensuring welcoming environments that comply with hygiene and quality standards.

The housekeeping list is a document used by the housekeeping department to organize daily cleaning and maintenance activities. It includes information such as room status (vacant, departing, out of service), special guest requests, and task priorities. 

An Incentive is a company trip offered as a reward or recognition to employees for professional achievements. It combines leisure moments, team-building activities, and sometimes work sessions, aiming to motivate and retain staff.

An independent hotel is a lodging facility that operates autonomously, without affiliation to hotel chains or groups. It has full control over management, pricing, and marketing policies, often providing personalized experiences closely linked to the local area.

Inventory refers to the total number of rooms a hotel makes available for sale, including details like room type, rates, and restrictions. It is managed within booking systems to ensure consistency and up-to-date information across all distribution channels.

A KPI (key performance indicator) is a key metric used to measure the effectiveness of a hotel’s strategies and operations. Common KPIs include occupancy, RevPAR, ADR, and booking conversion rate. 

Last minute refers to bookings made shortly before the arrival date, often with discounted rates. This type of offer helps hotels fill unsold rooms and maximize occupancy, especially during low-demand periods.

A leisure traveler is a guest who travels for pleasure and recreation, not for work. This includes vacationers, families, couples, or those seeking relaxation, culture, or adventure. It represents one of the main segments of tourist and hotel demand.

Length of stay (LOS) indicates the number of nights a guest spends in the hotel. It can be calculated for an individual guest or as an average over a specific period or customer segment.

Lifetime value (LTV) indicates the total revenue a guest can generate for a hotel over the entire relationship, from the first to the last stay. It includes all bookings as well as ancillary spending, such as restaurant, spa, or extras.

A listing is the hotel profile published on online booking platforms such as OTAs, GDS, or review sites. It contains the property description, rates, photos, amenities, and guest ratings, guiding the choice and booking process.

A loyalty program is a system of rewards and incentives offered by a hotel to reward regular customers and foster loyalty. Participants generally earn points for each stay, which can then be redeemed for discounts, upgrades, or extra services.

MICE (Meetings, Incentives, Conferences, and Exhibitions) is a segment of the tourism market that includes meetings, incentive trips, conferences, and exhibitions. In hotels, it refers both to business clients attending these events and to the department that manages dedicated spaces, services, catering, and technical support.

Maintenance encompasses all activities necessary to ensure the proper functioning of rooms, facilities, and common areas of a hotel. It includes both routine and extraordinary interventions to ensure safety, comfort, and service quality.

The master price in a hotel is the base reference rate from which all other types of pricing (discounted, promotional, or with restrictions) are calculated. It acts as the “parent” rate on which rules, increments, or reductions are applied to differentiate the offer.

A meeting is a gathering organized in a hotel for business, professional, or training purposes. It can range from small meetings to large conferences and takes place in equipped spaces such as meeting rooms, with support services including catering, audiovisual technology, and technical assistance.

Metasearch engines are search engines that aggregate rates and availability from various online sources, such as OTAs and official websites, allowing users to compare prices in real time and helping hotels increase visibility. Well-known examples include Trivago, Kayak, and Google Hotel Search.

The Minimum Length of Stay indicates the minimum number of nights required for a booking. It is a restriction used by hotels to optimize occupancy and revenue during high-demand periods or special events.

Non-refundable indicates a discounted rate that does not allow cancellations or refunds: if the guest cancels, they forfeit the entire amount. Hotels use it to secure a stable occupancy base and reduce cancellation risk.

Nesting is a revenue management technique that segments guests based on profitability, ranking them from most to least profitable. In case of higher demand from more profitable segments, the hotel may reallocate rooms initially assigned to less profitable segments. 

The net rate is the price excluding commissions: it indicates what the hotel offers to an intermediary (OTA, agencies) or the actual amount received after deducting commissions. It is useful to assess the profitability of different distribution channels.

Night audit is the process of reviewing and closing daily transactions in a hotel, usually conducted overnight. During the night audit, all charges, cancellations, booking modifications, and payments are checked and recorded. 

A no show occurs when a guest with a confirmed reservation fails to arrive without notice. The room remains unsold, and the hotel may charge penalties or the first night according to its policy to compensate for lost revenue.

Occupancy rate is the percentage of rooms occupied relative to the total available rooms in a hotel during a specific period. This KPI is essential to measure room utilization efficiency and evaluate the success of pricing and distribution strategies. 

On The Books (OTB) refers to the set of reservations already confirmed for future dates. It represents the “on the books” occupancy, meaning rooms reserved but not yet consumed, and is a key metric for planning and revenue management strategies.

An online travel agency (OTA) is a digital platform that allows booking hotels, flights, or vacation packages. It acts as an intermediary between the guest and the property, offering visibility but charging commissions on sales. Common examples include Booking.com, Expedia and Airbnb.

An opaque rate is a price reserved only for certain intermediaries and not shown directly to the guest. It is often included in last-minute or “blind” packages, allowing hotels to sell rooms at discounted rates without revealing the actual price to the public.

Open pricing is a pricing strategy that, unlike fixed rates or discounts proportional to the BAR, allows hotels to set different rates in real time for segments, channels, and room types, optimizing revenue based on demand and market conditions.

Overbooking occurs when the number of confirmed reservations exceeds the actual availability of rooms on a given date. Unlike oversale (a strategy to compensate for cancellations and no-shows), it is an excess that may prevent the hotel from accommodating all guests.

Oversale is a strategy in which a hotel accepts more bookings than the number of available rooms, anticipating no-shows or cancellations. It is used to maximize occupancy but can result in overbooking if all guests show up. Unlike overbooking, it is a planned practice.

PAX is a term used in the tourism and hospitality sector to indicate the number of people in a booking, group, or event. For example, a booking for 5 pax corresponds to 5 guests. It is commonly used in tours, organized trips, and group bookings.

A hotel package is an offer that combines multiple services at a single price, such as accommodation, meals, transportation, or extra activities. It allows guests to enjoy greater convenience and economic benefits compared to purchasing each service separately.

The parity rate was a contractual clause requiring properties to maintain the same rate across all sales channels, preventing lower prices on the official website compared to OTAs. In Europe, the Parity Rate was banned starting July 1st, 2024.

Payment Services Directive 2 (PSD2) is the EU directive that regulates electronic payment services. It introduces security requirements such as Strong Customer Authentication (SCA) and establishes common rules to make transactions safer and more transparent.

A payment policy defines the conditions for paying for a stay. It includes details such as: payment timing (booking, check-in, check-out), accepted methods (credit card, bank transfer, cash), and any penalties in case of cancellations or modifications.

Pickup refers to the number of new bookings received for a future date within a specific time frame. It’s used to monitor the evolution of sales day by day and to evaluate how quickly the hotel is filling up for a given date.

A point of sale (POS) is the system used by hotels to record and manage sales transactions, such as payments for extra services (restaurant, bar, spa, etc.). The POS allows payments to be processed, receipts to be issued, and accounting data to be updated automatically. 

The Property ID, or Hotel ID, is a unique code assigned to a property within a management system or distribution platform. It serves to identify the hotel and manage its data such as availability, rates, and bookings across different sales channels.

A property manager  is a professional or company that manages properties intended for tourist rentals or hotel use on behalf of the owners. They handle pricing, reservations, maintenance, and guest services with the goal of optimizing revenue and operations.

The rack rate refers to the maximum rate charged for a room, without discounts or promotions. Rarely used as the final selling price, it represents the reference value from which other rates, discounts or offers are calculated.

Rate fencing is a revenue management technique that involves applying specific restrictions or conditions to a discounted rate, with the goal of limiting access only to certain customer segments or specific purchasing behaviors.

Rate linking refers to a rate calculated from a base rate (such as BAR or Master Rate), to which predefined rules or conditions are applied, such as percentage discounts or restrictions. The derived rate updates as the reference rate changes.

Rate modifiers are rules applied to hotel rates to increase or decrease them based on specific conditions, such as length of stay, number of guests, day of the week, or sales channel. They allow prices to be adapted flexibly and dynamically.

A rate plan is the structure of prices and conditions applied by a property. It can include standard, discounted, non-refundable rates, or rates with extra services, and can be differentiated by room type and customer segment.

The release period is the deadline by which blocked or optioned rooms (e.g., in an allotment with a tour operator) must be confirmed. Once the period expires, unbooked rooms are released and become available for sale again.

A reservation is the act by which a guest books a room or service at a hotel for a specific date. The reservation guarantees the customer that the accommodation will be held for them and can be made through the website, OTA, phone, or travel agencies.

A returning guest is a guest who comes back to the hotel after a previous stay. This behavior reflects loyalty and satisfaction and is an important indicator of a property’s success, as repeat customers generate recurring revenue and spontaneous promotion.

Revenue management is the discipline that enables hotels to maximize revenue and occupancy by dynamically managing prices and availability. It is based on demand analysis, forecasting, segmentation, and dynamic pricing, adapting rates to market conditions in real time.

A revenue manager is a professional who manages pricing and sales strategies to maximize a hotel’s revenue. They analyze demand, historical data, trends, and competition, applying revenue management techniques to optimize rates, availability, and offers.

Room capacity refers to the maximum number of people a hotel room can accommodate, based on its size and specific features, such as the number of beds or layout.

Room only is a stay option, or Board Plan, that includes only accommodation, without meals or additional services. Guests can use the room without paying for breakfast, dinner, or other services, which can be purchased separately. 

Room type, is the category by which a hotel classifies its rooms based on size, number of beds, location, or included amenities. Common examples are single, twin, family, suite, superior, or executive.

A serviced apartment is a furnished and equipped apartment with all the necessary comforts for short- or long-term stays, along with additional services such as cleaning, linen changes, reception, and maintenance.

Shoulder seasons are those between low and high seasons when room demand is relatively low but not as low as in the low season.

Spillage is the loss of potential revenue that occurs when demand exceeds supply and the hotel cannot accept more bookings, or when rooms are sold too quickly at too low rates, reducing maximum potential earnings.

Spoilage is the revenue loss that occurs when a hotel leaves rooms unsold despite availability. It happens due to unaddressed demand or ineffective management of rates and availability prior to arrival.

The total revenue is the overall revenue generated by a hotel, including not only room sales but also food & beverage, spa, events, and other services. It represents the property’s total earnings.

Tour operators are companies that create and sell complete travel packages, including accommodation, transport, excursions, and activities. Hotels collaborate with them to sell group packages, access international markets, and secure long-term bookings.

A travel agency is an intermediary that offers planning and booking services such as flights, hotels, car rentals, and vacation packages. It works with tourism providers, including hotels, to organize and sell trips to private or corporate clients.

Unconstrained demand is the total volume of requests a hotel would receive in a period if there were no availability limits. It includes both confirmed and rejected bookings, representing the hotel’s full potential demand.

An upgrade is an enhancement to a reservation, free or paid, usually involving a higher-category room. It can provide more space, additional services, or a better location, such as a panoramic view.

Upselling is a sales technique where the guest is offered a superior product or service compared to their original choice. In hotels, this may include a better room, added breakfast, or premium services.

A vacation rental, or vacation home, is a property made up of one or more furnished homes or apartments available for short-term tourist stays. They provide independent spaces with kitchens and self-service amenities, offering more freedom than hotels.

Value added tax (VAT) is a consumption tax. In hotels, it applies to rooms, meals, and extra services. It is collected by the establishment and remitted to the tax authority, with rates varying depending on the country and service.

Vuoto per pieno in Italy refers to a specific commercial agreement where a hotel assigns a set number of rooms to a tour operator or agency for a fixed time period. The operator pays the hotel for all allocated rooms, regardless of whether they are occupied.

A walk-in is a guest that arrives at the hotel without a prior booking and requests a room based on availability. This type of guest doesn’t use online or phone booking channels, but shows up directly at the front desk.

A wholesaler is an intermediary that buys hotel rooms at discounted rates and resells them to tour operators, travel agencies, or indirectly to end clients. Rooms are often included in packages, increasing hotel sales and visibility.

Yield management is a revenue optimization technique, originating in airlines and adopted by hotels, to maximize profits. It involves adjusting rates and room availability in real time based on demand and capacity.