Glossary Term Explanation A reservation is a booking or request for some time in the Reservation future. It involves obtaining all the necessary information needed to satisfy this request. FIT - Fully/free independent A person travelling who is not part of a group or tour who traveller is paying full rate. A package is a combination of goods and services at a Package discounted price. Selling more of a good or service than you have available. Overbooked Usually done to compensate for no A person who has made a reservation but does not turn No show up. Under-stay A person who departs earlier than the reservation date. Involves selling your products by offering alternatives. Suggestive selling Describe how the product would meet the customer's needs, highlight any special features. Offer more than the guest is asking for. Sell up your price Up-selling range. Suggesting accommodation at another one of your properties. Down-selling is basically the opposite to up-selling Down-selling whereby you the selling process at the most expensive item and work down to the lowest price. A listing of reservations waiting for cancellations in order Waitlist to be accepted.
Glossary Term Explanation Reservation A reservation is a booking or request for some time in the future. It involves obtaining all the necessary information needed to satisfy this request. FIT - Fully/free independent traveller A person travelling who is not part of a group or tour who is paying full rate. Package A package is a combination of goods and services at a discounted price. Overbooked Selling more of a good or service than you have available. Usually done to compensate for no No show A person who has made a reservation but does not turn up. Under-stay A person who departs earlier than the reservation date. Suggestive selling Involves selling your products by offering alternatives. Describe how the product would meet the customer's needs, highlight any special features. Up-selling Offer more than the guest is asking for. Sell up your price range. Suggesting accommodation at another one of your properties. Down-selling Down-selling is basically the opposite to up-selling whereby you the selling process at the most expensive item and work down to the lowest price. Waitlist A listing of reservations waiting for cancellations in order to be accepted.
TM_Receive_process_reservations_25112013_AH.docx