Industry Vocab for Travel Managers Infographic
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(OBT) – Online Booking Tool – An internet travel portal specifically designed around the need of business travelers and corporations.
(TMC) – Travel Management Company – A travel agent that fully manages the business travel requirements delegated by an individual, company or organization to fundamentally save clients both time and money.
(GDS) – Global Distribution System – An international system used by travel agents and online travel agencies to make online bookings.
(OTA) – Online Travel Agencies – Online companies whose websites allow consumers to book various travel related services directly via the Internet.
(CRS) – Central Reservation System – A computerized system used to store and retrieve information and conduct transactions related to air travel, hotels, car rental, or other activities.
(PMS) – Property Management System – A comprehensive software application used to cover objectives like coordinating the operational functions of front-office, sales, planning, and reporting.
(LDS) – Local Distribution System – Works on a regional and/or interest-focused basis that taps into an unlimited number of Suppliers, Agents, and Resellers who do business within the LDS.
(ADS) – Alternative Distribution System – Distribution via 3rd party websites, including OTA’s travel portals, travel search engines, online hotel consolidators, and airline websites with online reservation options.
(GBTA) – Global Business Travel Association – The world’s leading business travel and meetings organization.
(OBE) – Online Booking Engine – An online application which allows to choose from a wide range of travel products and book them on the Internet.
(DMC) – Destination Management Company – A company working in a specific destination to handle all bookings and arrangements for tours or conferences, including hotel accommodation, transfers, sightseeing, meetings and special events.
(KPI) – Key Performance Indicator – Set of ratios and formulas that help calculate performance
Extranet – A website that allows controlled access to partners, vendors, and suppliers or authorized set of customers.
Direct Connect – Allows travelers to make bookings and reservations directly from a carrier’s website/system instead of through the GDS.
Travel Aggregator – A website that searches for deals across multiple websites and shows you the results in one place.
Metasearch Engine – A search tool that uses another search engine’s data to produce its own results from the Internet.
Booking – An act of reserving accommodations, travel, etc., or of buying a ticket in advance.
Consortia – A rate negotiated between a hotel company and a travel agency group.
Negotiated Rates – Offer discounted/targeted rates to specific markets. Negotiated Rates include a list of products, commissions, terms and payment methods of either automated or manual.
Channel Connections – Connect to specialized travel agents who serve niche travel markets.
Adoption Rate – The percentage of tickets issued through an online booking system compared to the traditional booking channel of agent-assisted reservations.
Ancillary Fees – Amenities a consumer can order while traveling such as onboard sales of food and beverages; checking of baggage and excess baggage; assigned seats or better seats such as aisle rows; call center support for reservations; fees charged for purchases made with credit cards, and early boarding benefits.
Preferred Supplier – A service company that partners with a company to work toward mutually agreed upon goals.
Preferred Vendor – Travel companies with which a corporation sign agreements to provide travelers with discounted rates.
Revenue Management System – A computer-based pricing system that vendors use to adjust prices based on anticipated demand. Also referred to as Yield Management.
Acquisition – Acquiring new customers that are generated by a variety of marketing techniques.
Merchant Model – A business model that consists of selling goods or services over the internet.