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Property Management System - Software used to manage daily operations of a hotel, like reservations, room assignments, billing, and other services.

Customer Relationship Management - A system for managing a company’s interactions with current and potential customers, often leveraging data analysis about customers' history.

Point of Sale - A system where customers execute payments for goods or services offered by a company, vital for transactions in hotels and restaurants.

Software as a Service - A software licensing and delivery model in which software is accessed online via a subscription rather than bought and installed on individual devices.

Online Travel Agency - A website or app that allows consumers to book various travel related services such as hotels, flights, cars, and more.

Global Distribution System - A global computerized reservation network used as a single point of access for viewing airline schedules, booking airline seats, issuing airline tickets and more.

Key Performance Indicator - A set of measurable values that demonstrates how effectively a company is achieving key business objectives.

Content Management System - A software application that facilitates creating, editing, organizing, and publishing content.

Cost Per Occupied Room - A metric used to calculate the total costs involved in servicing a room divided by the number of rooms occupied in a given period.

Average Daily Rate - A metric that's calculated by dividing the total room revenue by the number of rooms sold. It represents the average rental income per paid occupied room.

Revenue Per Available Room - A performance metric in the hotel industry, which is calculated by multiplying a hotel's average daily room rate by its occupancy rate.

Net Operating Income - A measure used to evaluate a real estate investment's profitability, which calculates the total revenue from the property minus all reasonably necessary operating expenses.

Gross Operating Profit Per Available Room - A performance metric in the hospitality industry that assesses a hotel's profitability by dividing gross operating profit by the number of available rooms.

Length of Stay - The number of nights a guest stays in a hotel. It's an important metric for hotel management and can affect pricing and availability strategies.

Radio-Frequency Identification - A technology that uses electromagnetic fields to automatically identify and track tags attached to objects, including key cards for hotel rooms.

Near Field Communication - A set of communication protocols that enables two electronic devices to establish communication by bringing them within 4 cm of each other, used in mobile key cards and payments.

Internet of Things - The network of physical objects, 'things,' that are embedded with sensors, software, and other technologies for the purpose of connecting and exchanging data with other devices and systems.

Information System - A combination of technology, people, and processes to manage, analyze, distribute and present information to support decision-making.

Local Area Network - A computer network that interconnects computers within a limited area such as a residence, school, laboratory, or office building.

Application Programming Interface - A set of routines, protocols, and tools for building software and applications, which allows different data systems to communicate.

Business Intelligence - Technologies, applications, and practices for the collection, integration, analysis, and presentation of business information. The purpose is to support better decision-making.

Building Management System - A computer-based control system installed in buildings that controls and monitors the building's mechanical and electrical equipment.

Capital Expenditure - Funds used by a company to acquire, upgrade, and maintain physical assets such as property, industrial buildings, or equipment.

Cost of Goods Sold - The direct costs attributable to the production of the goods sold by a company, which in hospitality can include the cost of food and beverages sold.

Do Not Disturb - A signal provided by hotel guests indicating that they do not wish to be disturbed, typically utilizing a sign on the door or an electronic system.

Earnings Before Interest, Taxes, Depreciation, and Amortization - A measure of a company's overall financial performance and is used as an alternative to simple earnings or net income.

Food and Beverage - A term commonly used in the hospitality industry to refer to the food and beverage sector, which encompasses all offerings related to food and drink services.

Hospitality Management System - An integrated software solution designed for the hospitality industry, geared towards improving service delivery and maximizing efficiency.

Very Important Person - A term used to describe high-value guests in the hospitality industry, often receiving special services and attention.

Request for Proposal - A document that solicits proposals, often through a bidding process, by an agency or company interested in procurement of a commodity, service, or valuable asset.

User Experience - The overall experience of a person using a product such as a website or a computer application, especially in terms of how easy or pleasing it is to use.

Unique Selling Proposition - A factor that differentiates a product from its competitors, such as the highest quality, lowest cost, or the first-ever product of its kind.

Year to Date - The period beginning from the start of the current calendar year or fiscal year up to the current date. YTD figures are used to analyze business trends or compare performance data.