Glossary

This Glossary is provided to users of the website as a guide to terms and information they may find helpful. Definitions are added, edited or removed occasionally.

I-Calendar

Various price setting techniques designed to increase gross sales of a business, including tools for dynamic pricing, promotions, advertising, discounts, specials and more. Also known as Dynamic Rates, and Dynamic Pricing
Origin: William May

Limited Vacation Rental Manager

A locally owned and operated company that manages multiple second homes for short-term rental such as cabins, condos, cottages, houses, villas, etc. Provides onsite services and marketing without aid of a support organization. May also refer to an individual who works at such a company.
Origin: Vacation Rental Association

Linens

Usually cotton materials used for sheets, pillow cases and other bedding
See also: Bedding, Textiles, towels, fleece Origin: May, William

Name Your Price

An offer to guests to specify the price they want to pay per night for lodging, and the manager then looks for lodging to meet their criteria
Origin: William May Link: VRIA.org

Occupancy Rate

The percentage of total available nights that have been rented for a property or a group of properties over a specified time period. 2. The percentage of all rental units that are occupied or rented at a given time.
Origin: William May

Property Manager

A person or company who manages real estate including commercial, residential and other properties. Should not be used for people who manage vacation rentals, as those should be called "Vacation Rental Managers" or "Lodging Managers"
See also: Vacation Rental Manager, Lodging Manager, Absentee Vacation Rental Manager, Corporate Vacation Rental Manager Origin: Vacation Rental Association

Rustication

Vacation in a rustic, rural or remote Inn, Lodge or Resort
Origin: William May Link: Rustications.com

Textiles

All bedding, towels and other fabric products used in a lodging facility to comfort to owners, family and guests.
See also: Bedding, towels, fleece, Linens Origin: Vacation Rental Association

Towels

Fleece based materials used for bath towels, hand towels, wash clothes, bath mats
See also: Textiles, fleece, bedding Origin: May, William

Vacation Rental Manager

A company that provides comprehensive lodging management services to multiple second homes such as cabins, condos, cottages, houses, villas, etc. Such managers operate local offices, housekeepers, staff, marketing, advertising, accounting and reservations. May also refer to a person at such firm who is in charge of properties.
See also: Property Manager, Absentee Vacation Rental Manager, Corporate Vacation Rental Manager Origin: Vacation Rental Association

Yield Management

Various price setting techniques designed to increase gross sales of a business, including tools for dynamic pricing, promotions, advertising, discounts, specials and more. Also known as Dynamic Rates, and Dynamic Pricing
Origin: William May

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DETAILS: Glossaries and Dictionaries are handy tools. They provide an indication of meaning but additional study may be necessary to comprehend the full meaning. There may be alternate definitions not included here and experts may disagree on the proper explanation of each term.

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