Industry speak

This glossary is not a comprehensive guide but a useful reference to terms frequently used in the travel and event industry:

Allocation

Agreement by a hotel to hold an agreed quantity of bedrooms at a fixed rate, for a set period of time.

Best available rate

Also known as a flexible rate. This is a variable rate according to demand and occupancy.

Build-up and Breakdown

Additional time to set up and dismantle audio/visual and production equipment. If you need access in advance or after the event there may be an additional charge, depending on the time required.

Comp. rooms

Complimentary rooms allocated by the hotel.

Confirmed Reservation

Verbal or written agreement to proceed with the booking.

Contract

Binding agreement where there are legal responsibilities for both parties.

CSR (Corporate Social Responsibility)

Company's self-imposed policy or responsibilities on a range of issues such as ethical, legal and environmental standards.

Cut-Off Date

Date when the venue will release a block of bedrooms to the general public.

DDR (Daily Delegate Rate)

Usually comprises hire of one meeting room, lunch, refreshment breaks and water in the meeting room. Generally better value than paying for all the elements separately. Check whether there are two or three refreshment breaks included, if you want tea and coffee for delegates on arrival as well as mid-morning and mid-afternoon.

RDR (Delegate Rate, 24-hour)

Also known as residential delegate rate. As daily delegate rate, plus dinner, bed and breakfast.

DMC (Destination Management Company)

Company with local knowledge and which uses local suppliers at the destination.

Inclusive rates

Including all taxes and service charge.

Microphones

There are a variety available:

Cordless/Wireless

Portable, using its own power source.

Lapel

Can be pinned to clothing, used if speakers walk around or need their hands free.

Lectern

Attached to the lectern.

Roving

Hand held, used for taking questions from the audience.

Standing

Attached to an adjustable stand on the floor.

Table

On a short stand placed on the table-top, usually used by a panel of speakers.

Options

Option Date (Release Date)

The date that the option expires and the venue can offer the space to another client.

First Option

The space is being held for one client until the option date and they have first choice to confirm the booking.

Second Option

The space will be offered to the second option client if the first option does not proceed.

Joint Option

The space is held by two or more clients and the venue will proceed with the first one to confirm (contract) their booking.

Overnight hold

Exclusive use of the meeting room for the duration of a multi-day event. You may be using the room during the day, but the venue may wish to book another event there in the evening. Check this, as it has implications for setting up and production. There may be a charge for overnight hold.

Rack Rate

Published standard cost of a hotel bedroom.

RFI (Request for Information)

Process of gathering information to decide how to proceed. This can be the first step in a process and is often followed by a RFP.

RFP (Request for Proposal)

Invitation for suppliers to submit a formal business offer, which includes details of the products and services they can provide as well as a quotation.

ROI (Return on Investment)

Measurement of the success of an event, which can be by a range of criteria such as financial, educational, motivational...

Room Hire Rate

Charge to hire a room and any equipment provided in it, with water for delegates. Usually used for syndicate rooms, as the main room is included in the delegate rate.

Run of House Rooms

Available bedrooms which are allocated at a flat rate, regardless of the standard of the room and at the discretion of the hotel.

SLA (Service Level Agreement)

Agreed standards that all parties will work to.

Syndicate Room (or Breakout Room)

Smaller room for group meetings away from the main event.