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A variable pricing strategy based on understanding, anticipating, and influencing consumer behavior to maximize revenue from a fixed, perishable resource.

Products or services that cannot be stored for sale at any time in the future – once the opportunity to sell them has passed, they are gone forever.

A performance metric in the hotel industry calculated by multiplying a hotel's average daily room rate (ADR) by its occupancy rate, or by dividing total room revenue by total rooms available.

A metric used in the hospitality industry to measure the average realized room rental per day.

The ratio of rented or used space compared to the total amount of available space.

The process of making estimations about future customer demand over a defined period, using historical data and other information.

Flexible pricing technique where prices fluctuate based on market demands, mainly used for perishable resources like airline seats or hotel rooms.

A strategy used in revenue management where more reservations for a product or service are accepted than can be accommodated, accounting for cancellations and no-shows.

A pricing strategy where different prices are charged for the same product or service in different markets or segments, based on the willingness to pay.

The process of managing and overseeing the optimal amount of stock required to meet customer demand while minimizing carrying costs.

The act of managing online and offline distribution channels to sell the right inventory through the right channels at the right price and time.

Policies applied to require a minimum or set a maximum number of nights a guest can book, aimed at optimizing the occupancy and revenue per available room.

Special pricing structures offered to groups or large parties, often discounted due to the volume of rooms or services being purchased.

Conditions put in place to segment customers into different rate categories to prevent dilution of premium rates by those willing to pay less.

The process of determining whether the projected revenue from a certain piece of business is worth the possible loss of transient business that could pay a higher rate.

The practice of selling products or services at significantly reduced prices close to the time of service, with the goal of filling remaining inventory.

A sales technique where a seller induces the customer to purchase more expensive items, upgrades, or add-ons, in an attempt to make a more profitable sale.

A legal agreement between a hotel and the OTAs that the hotel's room rates will be the same across all distribution channels.

The rate at which reservations are made for a particular future date, used to forecast demand and adjust pricing and inventory strategies.