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What is the meaning / definition of Overhead Costs in the hospitality industry? The term Overhead Costs, also called overhead expenses, refers to the indirect costs which occur when operating a business, while excluding costs directly related to the manufacturing of a product or delivery of a service. Overhead Costs do [...]

What is the meaning / definition of Overbooking in the hospitality industry? Sometimes it can be necessary for a hotel to sell more rooms than it actually has available. To those unfamiliar with the internal workings of the Hospitality Industry, which is always influenced by and somewhat vulnerable to the vicissitudes [...]

What is the meaning / definition of Outstanding Balance Report in the hospitality industry? This report contains all the listings of a guest’s folios that are unpaid or due to be paid by a guest. This sheet is used to record the total charges and amount that needs to be paid [...]

What is the meaning / definition of OTA, in the hospitality industry? OTA stands for: Online Travel Agency. OTAs are online companies whose websites allow consumers to book various travel related services directly via Internet. They are 3rd party agents reselling trips, hotels, cars, flights, vacation packages etc. provided / organised [...]

What is the meaning / definition of Operating Costs in the hospitality industry? Operating Costs, also known as Cost of Goods Sold (COGS), is a cost which is directly related to everything needed to keep a business up and running. Examples for Operating Costs include items such as payroll, rent, office [...]

What is the meaning / definition of Open Pricing in the hospitality industry? The great thing about pricing by most hotels around the globe is that nothing is set in stone. That is, there can be flexibility where prices have to sometimes be pitched at differing levels, according to the various [...]

What is the meaning / definition of Opaque Sites, in the hospitality industry? Opaque Sites are booking channels and OTA websites where the supplier (in this case the hotel) remains hidden until after the purchase is complete. The customer sees only the product category (destination, star rating of the hotel) and the [...]

What is the meaning / definition of ODD, in the hospitality industry? ODD stands for: Online Distribution Database. It is the former term for Hotel Content Database (HCD). See also: Pegasus Synonyms ODD Online Distribution Database

What is the meaning / definition of OBE, in the hospitality industry? OBE stands for Online Booking Engine. It is an online application which allows to chose from a wide range of travel products (hotels, air tickets, conference halls etc.) and book them on the Internet. An OBE displays rates and [...]