This Glossary is provided to help guests understand more about the rental of inns, resorts and vacation rentals. It is not comprehensive but serves as a primer for terms guests may encounter in renting specialty lodging. Not all terms apply to all properties or managers.
VVR - Verified Vacation Rental
A lodging unit that has submitted documentation and been verified as a legitimately owned and operated vacation rental by the Vacation Rental Association (VRAI.org). Designated as "Verified Vacation Rental (IVR)". Does not include physical inspection as is included in the "Inspection Vacation Rental (IVR)" Program. The term IVR are trademarks owned by the Vacation Rental Association.
See also: IVR, Inspected Vacation Rental, Blue Ribbon Rental Origin: Vacation Rental Association
A lodging operator who sells occupancy through other parties called retailers
See also: Retailers Origin: Redstone Systems
Rental program from Sunspot Vacation Rentals that provides advertising and bookings services to owners of timeshares who have dates available to rent.
Origin: May, William
Payment by the renter to the owner equaling a portion of the total rental amount. The advance payment is applied to the total rent cost.
Origin: Vacation Rental Association
Average Daily Rate (ADR)
The average price paid for nightly stays at a lodging establishment. Does not directly correspond to Rack Rates (retail asking price.)
See also: Scheduled Rack Rates Origin: William May
Beach Front Accommodations
Buildings or rooms and living units in a building which is along side a body of water and generally with a reasonably level geographically between the building and the water. Generally means there are no other buildings between the building and the water. Is more specific than Ocean Front Accommodations which may not be on a beach.
See also: Ocean Front Accommodations Origin: Vacation Rental Association
When guests can see a beach (Salt or Fresh Water) from some area of the property, not necessarily from all area of the property. May include Full, Partial or Peekaboo Views.
See also: View, City View, Mountain View, Resort View, Water View Origin: Vacation Rental Association
The number of guest stays for check-ins during a given period that canceled prior to arrival.
Origin: William May
The percentage of reservations that canceled prior to arrival
Origin: William May
When guests can see sections of a town or city from some area of the property, not necessarily from all area of the property.. May include Full, Partial or Peekaboo Views.
See also: View, Beach View, Mountain View, Resort View, Water View Origin: Vacation Rental Association
An online calendar which shows a list of available lodging units (room, suites or homes) in a specified Complex or destination; along with available dates. Usually a left hand menu list the units and a top menu shows days or weeks. Booked units are displayed so that a guest can determine which units are available and then make a selection. Available in virtually all lodging software and many lodging websites. Also called a Tape or Grid.
See also: Availability Calendar Origin: Vacation Rental Association
(1) A hotel room that is sold as if it were a home, but lacks certain common home features such as a full kitchen.
(2) Any condominium project where homes are operated as a hotel with a registration desk, cleaning service and more. The units are individually owned. Unit owners also have the option to place their unit in the hotels rental program where it is rented out like any other hotel room. Generally, condotels are sold as a second or third home.
NOTE: Mortgage financing for any property categorized as a Condotel may be labeled as "Non-Warrantable" and not financeable in the USA under Fannie Mae and Freddie Mac lending programs.
Origin: Investopedia & VRIA
Dynamic pricing is a customer or user billing mode in which the price for a product frequently rotates based on market demand, growth, and other trends. In Lodging, rates per day will vary looking forward many months. Also known as Dynamic Rates
Origin: William May
Another word for towels, wash cloths and math mats
See also: Textiles, linens, towels Origin: May, William
FVRMA - Florida Vacation Rental Managers Assoc
Trade Association of Vacation Rental Managers in the State of Florida.
See also: VRIA, VRMA Origin: FVRMA
A co-hosting program for lodging owners offered by members of the Goldener inns & resort Network, such as Inns, Resorts and other multi-unit properties.
See also: Guest minders, guest minder, Origin: GuestMinders Link: GuestMinders.com
High Dynamic Range (HDR) Photos
Digital photos taken and processed to produce the most life-like quality and colors possible. Used extensively for quality architectural and lodging photographs. Techniques that allow a greater luminance's between light and dark so they more accurately the wide range of real scenes.
Origin: Wikipedia Link: Wikipedia.com
A co-hosting program for vacation rental owners offered by members of the Sunspots Vacation rental network, such as for cabins, condos, homes & villas.
See also: Guestminder Origin: May, William
Online advanced programming interface (API) system of synchronizing calendars between websites and software. Often used in the lodging industry.
See also: I-Book, I-Rate Origin: William May
A stout box which can be attached to a build, that requires a user to punch in a numerical combination code in order to retrieve a key from inside. Usually a mechanical device, not electronic. Some types can be hung on a door knob.