Those who work with a Channel Manager every day know the time and work load benefits of its use minimizing errors (check our article ABCs of the Channel Manager)
But we also know that it takes learning and that at the beginning of the practice you learn a lot of tools, which are updated over time.
Our purpose in this article is to bring you the keywords of every Channel Manager, translate them into a simple language to understand them.
If you do not have a Channel Manager yet, it is your opportunity to know the main elements, lose your fear and maybe decide to try this tool.
And if you already have it, there may be some that you don’t know and the update will be useful.
Universal – General
OTA: Online Travel Agency: Online sales agency (example: Expedia, Booking, Takeoff). Also called Portals.
Extranet: Internal administration tool (or backoffice) of online sales portals. When an OTA is connected to the Channel Manager, it is the Channel Manager that provides the rates and availability values that are displayed on the extranets of the portals.
GDS: Global Distribution System They are computer reservation systems that cover various areas of the tourism sector, such as plane tickets and hotel reservations. The most important are: Saber, Amadeus, Galileo, Worldspan.
Two Ways Connection: Double track. Type of connection of an OTA with the Channel Manager that synchronizes in both directions: on the one hand it sends inventory updates (rates and availability) to the extranet of the portals, and on the other hand it downloads the reservations of each portal when it is Receive a reservation.
One Way connection: Simple via. Type of connection of an OTA with the Channel Manager that sends inventory updates but does not discount the availability of the reservations entered.
Disparity: Discrepancy between the values that appear in a reservation portal and another.
Types of rates negotiated between the hotel and the OTAs.
Sales rates, commissionable or final: If a portal loads sales rates (ie commissionable or final), the value that is loaded into the Channel Manager will match exactly that displayed on the portal extranet (since then the commission it will be calculated by the same portal on these rates).
Net commission rates: If a portal charges net commission rates, it implies that the commission rate agreed with that portal must be discounted from the sales rate.
Main types of hotel rates.
Standard rate: It is the «base» rate from which the remaining rate plans or promotions are usually derived.
Last Minute: Rate in which prices are generally lower than those of the standard rate as they are released next to the check-in date in order to rent the last available rooms.
Non refundable: Rate in which prices are lower than the standard rate because a cancellation policy that does not accept returns is applied.
BAR: Best Available Rate. Best rate available. Refers to the lowest rate of all that the hotel has open.
Room Only: Rate plan with accommodation only (breakfast not included).
Inventory: Quantity and price of available rooms.
Closed on arrival – Close on departure: These are restrictions that apply to control the hotel inventory. A COA restriction does not allow guests to arrive on that specific date. When we apply COD, the guest cannot make the reservation if their stay ends that day.
Cut off days: It represents the number of days on which the guest must make the reservation before arrival.
Days before arrival: It is the number of days left before the arrival date of the guests.
Mass update: Channel Manager function that allows rapid loading of inventory changes for extended periods of time and specific days of the week.
Business rules: Business rules allow you to link the different types of rooms or rate plans with each other automatically, by percentage ratios or amounts.
Minimum stay: Minimum number of days required for the passenger’s stay.
Stop sell: Closing sales for a certain period.
Hot dates: The Channel Manager is indicated as important milestones (high or low demand), so that they are highlighted.
Price lists: Function of the Channel Manager that allows the creation of rates, which can be defined for a period of specific dates or days of week, or without periods of application to later decide when to apply them.
Competitive Set: It is formed by a group of similar establishments that compete directly with yours.
Did you find it useful?
We know that this universe contains endless terms to discover but we believe that those indicated in this article are a very important to move safely in the use of a Channel Manager.
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