Property management glossary

Plain-English definitions of the terms hosts and managers run into every day.

Average daily rate (ADR)

ADR is the average price you earn per booked room night over a period: room revenue ÷ booked nights.

Booking engine

A booking engine is the tool on your website that shows live availability and lets guests reserve and pay directly.

Cancellation policy

A cancellation policy sets the rules and refunds when a guest cancels — from flexible to strict.

Channel manager

A channel manager keeps your rates, availability and reservations in sync across every OTA you sell on, automatically.

Direct booking

A direct booking is a reservation a guest makes with you — on your own website or in person — with no OTA in the middle.

Double booking

A double booking is when the same dates get sold twice across different channels — the problem a channel manager exists to prevent.

Dynamic pricing

Dynamic pricing adjusts your nightly rates automatically based on demand, season, lead time and local events.

Guest screening

Guest screening checks who's booking — verifying identity and basic details — to reduce risk before arrival.

iCal sync

iCal sync shares availability between calendars using the iCal format, blocking dates across the tools you use.

Instant booking

Instant booking lets a guest confirm a reservation immediately, without waiting for the host to approve it.

Lead time

Lead time is how far in advance a guest books before check-in — useful for timing rates and promotions.

Length of stay (LOS)

Length of stay is the number of nights in a single reservation; it shapes pricing rules and cleaning costs.

Minimum night stay

A minimum night stay is the fewest nights a guest may book for given dates — a lever for occupancy and costs.

Multi-calendar

A multi-calendar shows every property or unit side by side in one view, so nothing is missed.

Net rate

A net rate is the amount you keep after an OTA's commission — the gross rate minus its cut.

No-show

A no-show is a guest who never arrives and never cancels — handled by your policy and payment terms.

Occupancy rate

Occupancy rate is the share of your available nights that are actually booked over a period: booked nights ÷ available nights.

OTA commission

OTA commission is the percentage an online travel agency takes from each booking it sends you — typically 15–25%.

Payout

A payout is the transfer of a guest's payment to you, after processing fees and any platform's schedule.

Property management system (PMS)

A PMS is the central system you run a property from: reservations, calendar, guests, rates and housekeeping in one place.

Rate plan

A rate plan is a set of prices and conditions — like non-refundable or breakfast-included — offered for a unit.

Review score

A review score is the average rating guests leave — a number that shapes ranking, trust and future bookings.

RevPAR

RevPAR — revenue per available room — combines rate and occupancy into one number: room revenue ÷ available nights.

Turnover

Turnover is the changeover between guests — cleaning, restocking and preparing a unit for the next arrival.

Upsell

An upsell is an optional paid extra — early check-in, an airport transfer, a welcome basket — added to a booking.

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