📌 Why This Glossary Matters
The holiday home and vacation rental industry has its own terminology. In addition, mr.alfred PMS uses some specific terms in modules, reports, and settings. This glossary will help you quickly understand key concepts you will encounter when using the platform and working in the industry.
🏨 General Industry Terms
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Occupancy → Percentage of booked nights compared to total available nights in a unit.
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LOS (Length of Stay) → The total number of nights in a booking.
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ADR (Average Daily Rate) → Average income earned per booked night (Total Revenue ÷ Nights Sold).
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RevPAR (Revenue Per Available Room) → Revenue generated per available night, whether booked or not (Total Revenue ÷ Total Nights Available).
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RevPAU (Revenue Per Available Unit) → Similar to RevPAR but calculated per unit instead of per room (Total Revenue ÷ Available Units).
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Channel Manager → A tool that syncs availability, rates, and content across multiple OTAs (e.g., Airbnb, Booking.com, Expedia).
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Rate Parity → Strategy to maintain consistent pricing across all OTAs and direct booking channels.
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Yield Management → Adjusting prices based on demand, seasonality, or competitor data to maximize revenue.
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Booking Window → The time between when a booking is made and the check-in date.
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Cancellation Policy → Rules that determine how cancellations are handled and what refunds apply.
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Reviews → Guest feedback left on OTAs or direct booking channels, impacting reputation and ranking.
🏘 PMS-Specific Terms
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Unit → Refers to an individual rentable property in mr.alfred PMS (e.g., an apartment, villa, or holiday home).
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Property → A broader entity that may contain multiple units (e.g., a villa with several rooms listed separately).
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Community → Refers to the building or tower where a property is located. Communities can store contact details used in Alerts (e.g., building security).
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Area → Neighborhood or sub-region within a city, linked to Communities for better property organization.
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Alerts → Automated notifications sent to guests, owners, or building security based on triggers (e.g., booking confirmation, guest reporting).
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Unified Inbox → Centralized communication hub within PMS, consolidating OTA messages (Airbnb, B.com, Expedia, etc.) in one place.
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Rate Plans → Predefined sets of pricing and booking rules (e.g., Standard Rate, Non-refundable Rate).
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Payment Methods → Configuration for how guests can pay (e.g., Cash, Credit Card, Bank Transfer, Stripe, Mamopay, Booking.com Virtual Cards).
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Deposits → Pre-authorization or charge collected as a security guarantee, managed via Stripe or Mamopay in PMS.
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Owner Portal → Access point for property owners to see performance reports, reservations, and payouts.
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Guest Data Form (Check-In Form) → Online form for collecting guest identity details before arrival, often required by local regulations.
📊 Revenue & Reporting Terms
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Gross Revenue → Total income generated before any commissions or costs are deducted.
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Net Revenue → Revenue after subtracting commissions, taxes, and fees.
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Commission → Percentage charged by OTAs (e.g., Booking.com, Airbnb) on each reservation.
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Payout → The amount received by the host after OTA deductions.
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Forecasting → Predicting future performance (occupancy, revenue) using past data and trends.
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Benchmarking → Comparing property performance against market averages or competitor sets.
🔑 Best Practices for Using This Glossary
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Refer back whenever you see an unfamiliar term in reports or alerts.
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Align your team with the same definitions to avoid confusion.
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Use this glossary as training material for new staff.