PMS Industry Glossary
Key terms and definitions from the Property Management System industry.
A
ADR (Average Daily Rate) is the average rental revenue earned per occupied room in a given time period. Formula ADR = To...
B
A Booking Engine (or internet booking engine, IBE) is the software that lets guests book directly on a property's own we...
C
A Channel Manager is a software tool that distributes a property's availability and rates to online travel agencies (OTA...
A composable stack (or composable hospitality platform) is a hotel tech architecture where a lean core PMS exposes open...
E
Embedded payments describes a PMS vendor acting as the property's card payment processor, with the processing built into...
G
The guest journey is the sequence of touchpoints between a property and a guest, from search and booking through pre-arr...
N
The Night Audit is the daily process, traditionally run overnight, that closes the hotel's business day in the PMS: post...
O
Occupancy Rate measures the percentage of available rooms that are occupied during a given time period. Formula Occupanc...
P
PMS stands for Property Management System. A PMS is the core operating software of a hotel, hostel, serviced apartment o...
R
RevPAR (Revenue Per Available Room) is a key performance metric in the hotel industry. It is calculated by multiplying a...
T
Two-way sync (or two-way integration) describes a connection between a PMS and a channel or third-party tool where data...