Notitur July 11, 2026
Travel Industry Intelligence

Travel industry glossary

Your reference guide to hotel technology, distribution and marketing terms. For professionals who use them every day and for students still learning them. Each term comes with a clear definition and a concrete example. This is nobody's official glossary, it is how we at Notitur explain the concepts that show up in our analysis.

81 terms

Distribution

Metasearch

A metasearch engine compares prices for the same hotel across several channels at once and sends the user to the one they pick....

Commercial

MICE

MICE covers meetings, incentives, conferences and exhibitions. It is a high value segment that fills hotels midweek and outside...

Revenue

MLOS

Minimum length of stay is a restriction that forces booking a number of nights to be allowed into a given date. It protects high...

Distribution

Modelo agencia

In the agency model, the guest pays at the hotel and the hotel later settles the commission with the OTA. The hotel keeps the...

Distribution

Modelo merchant

In the merchant model, the OTA charges the guest upfront and then pays the hotel its net rate, keeping the difference. The hotel...

Distribution

NDC

New Distribution Capability is an IATA standard that lets airlines sell through third parties with the same richness as on their...

AI and automation

NLP

Natural language processing is the branch of AI that lets a machine understand and produce human language. It is what allows...

Operations

No-show

A no-show is a booking that never turns up and never cancels in time. The hotel is left with an empty room and, depending on the...

Revenue

Occupancy

Occupancy is the percentage of rooms sold out of those available over a period. It is one of the three basic metrics alongside...

Revenue

Open pricing

Open pricing is setting each rate and each segment independently instead of moving them all chained to the BAR with fixed...

Distribution

OTA

An online travel agency is a channel that sells accommodation and travel online in exchange for a commission. Booking.com and...

Operations

Overbooking

Overbooking is selling more rooms or seats than exist, betting that cancellations and no-shows will happen. Done well it protects...

Revenue

Pace

Pace is the rate at which bookings build for a date compared with how the same day ran last year or with the target. If you are...

Revenue

Pickup

Pickup is the new bookings coming in for a date over a given window, for example the last seven days. It measures how fast a...

Hotel technology

PMS

The property management system is a hotel's core software. It handles reservations, check-in and check-out, room assignment,...

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