Glossary

Direct Travel’s partner for global ticketing with offices and partners in other countries, for global fulfillment.

All Charges are paid by the Master Account.

The average annual revenue generated from each customer contract, excluding fees.

The word Application refers to any software with a distinct function. Interface can be thought of as a contract of services between two applications.

A hotel industry KPI or used to indicate the average revenue earned for an occupied room on a given day.

A metric widely used in the hospitality industry to indicate the average airline ticket cost, based on a specific segment (can be calculated for a country, globally, for a company's total air spend, for a specific flight route, etc.)

Computerized systems used to store & retrieve information & conduct transactions related to air travel, hotels, & car rental.

Sets out the agreed elements of the deal, includes a number of important protections to all the parties involved, & provides the legal framework to complete the sale.

Recruiting & supporting workers of various backgrounds is integral to a company's success, and encompasses policies & initiatives designed to help all employees feel welcomed & equipped to perform their jobs at a high level.

Established in the 1980, this is a set of rules for communicating inventory based on characters as the vocabulary (data elements) and grammar (syntax).

A core programme that allows you to manage every component that goes towards making up your business. While these different parts of your business may feel separate, and they may be run by different departments, an ERP system will help you to integrate them all into one system.

The world's premier business travel & meetings trade organizaiton headquarted in Wasington, D.C.

Links reservation inventory under one computer-based network. A worldwide reservation system that acts as a conduit between travel bookers and suppliers

A collection of companies that aims to optimize the shared purchases of its members.

A template of companies likely to benefit &, in turn, are also the most lucrative customer for your business.

For Hotels. Funds not going on a Master Account. Individual pays with their own credit card.

In which shares of a private company are made available to the public for the first time. IPO allows a company to raise equity capital from public investors.

Call centers in Mumbai & Manilla.

An electronic sales reporting system for travel agents & CTDs that facilitates the settlement of sales, refunds, exchanges, memos, & TASFs.

The airline trade association for the world's airlines, representing some 320 airlines or 83% of total air traffic.

Space dedicated for this sort of travel.

An electronic “voucher’ used for residual amount of an exchange to be used on a future purchase.

An XML-based communication standard created to let airlines bring rich content and ancillaries directly to online travel agencies (OTAs), travel management companies (TMCs), and other flight resellers through a set of travel APIs. It’s aimed at replacing the old EDIFACT protocol, which has been around since the 1980s.

An airline ticket rule saying if a reservation is cancelled, the fare will not be refunded; the funds are lost. In some cases, amount could be applied towards a future purchase on the same carrier, however, all airline rules and restrictions differ, based on the rules/restrictions of the original ticket purchased.

A specialized software platform companies can used via subscription, to manage a company’s business travel booking; can be customized to include the corporate travel policy, rules, restrictions.

Web-based marketplace that allows consumers to research & book travel products & services.

A digital certificate allowing passengers to do online check-in or manage their bookings in a short time.

A network of software applications that help airlines manage all the passenger-related operations from ticketing to boarding.

Most profitable for TM companies.

A "rent-a-plate" refers to a service in the travel industry where smaller travel agencies or independent travel agents use the accreditation or credentials of a larger, established agency to issue airline tickets. These larger agencies, known as the "plates" because of the IATA (International Air Transport Association) numbers they hold, allow the smaller agencies to access airline reservation systems and issue tickets under their umbrella. This arrangement helps smaller agencies operate without needing to obtain their own IATA accreditation, which can be costly and complex. In exchange, the larger agency typically charges a fee or takes a commission on each ticket issued.

Refers to the total amount of revenue that a company or service provider is responsible for managing on behalf of its clients, essentially the total dollar value of business that a company is actively overseeing & optimizing through it's revenue management strategies.

Room & Tax only are charges to Master Account. Any incidentals are paid by the individual.

A security operations center is responsible for protecting an organization against cyber threats. SOC analysts perform round-the-clock monitoring of an organization's network & investigate any potential security incidents.

Canada West uses this acronym

A metric that tracks how long it takes for a company to convert a lead to a paying customer

Overall revenue opportunity that is available for a porduct or service if 100% market share is achieved.

A collection tool offered to IATA accredited travel agencies allowing them to process their service fees on the clients' credit cards.

A new technology platform designed to modernize the infactructure of the travel industry with a cloud based travel platform based on microservices and open API's.

In addition to a username and password, this is another verification credential for technology access.

A tax on products or services.