GLOSSARY

Rate Code

Alternate Names: 

Rate Plan Code

Rate Code is like the hotel's report card, it measures a specific slice of performance and keeps management honest. Imagine looking at your bank statement to see how you're doing; this metric does the same for rooms, revenue or costs. For example, Rate Code takes numbers you already have, such as revenue and room nights, and turns them into a single figure that's easy to compare over time or against rivals.

Operationally, Rate Code helps revenue managers decide whether to adjust pricing, run a promotion or simply celebrate. It plays nicely with other metrics, and together they show the broader picture, occupancy tells you how full you are, while Rate Code shows how profitable that fullness really is. Even if you're not a numbers person, it's worth tracking because it translates a complex business into a simple score you can root for.

Related Terms

Amenity

Amenity is a familiar concept in hospitality, though it may sound mysterious at first. Behind the jargon is a simple idea that makes day‑to‑day operations smoother and helps you understand how properties make money or serve guests.

Recommendation Engine

Recommendation Engine sits at the intersection of hospitality and cutting‑edge technology. It's the software or concept that helps hotels and vacation rentals engage guests in smarter, more personalised ways, imagine an invisible concierge that learns and responds in real time.

Back of House

Back of House is a piece of hospitality slang that makes daily life in hotels and vacation rentals smoother. It refers to a routine action or status, think of it as shorthand that front desk agents, housekeeping, and revenue managers use to keep everyone on the same page.

Check-out

Check-out is a piece of hospitality slang that makes daily life in hotels and vacation rentals smoother. It refers to a routine action or status, think of it as shorthand that front desk agents, housekeeping, and revenue managers use to keep everyone on the same page.