What is an Advertised Tour? Term used to refer to any tour that is available in a brochure or through…
What is an Agency Agreement? A contract between a travel agent and a tour or activity operator setting out the…
What is Channel Management? The process of allocating and controlling inventory pricing and availability to various sales channels. Managing inventory…
What is a Group Rate? A negotiated rate for a party, event, convention, or other organized group. The group rate…
What is Local Expert? Local Expert is the ground transportation and in-destination activities brand of Expedia. Expedia Local Expert consists…
What is an OTA? Acronym for Online Travel Agency. An OTA is a travel website that specializes in the sale…
What is an Overbooking? Reservation of more seats by a tour operator than are actually available, sometimes done deliberately to…
What is Viator? Viator (now known as TripAdvisor Experiences) is a marketplace for tours, activities, and attractions. Founded in 1999,…
What is Yield Management? The concepts and techniques concerning the maximization of profit or revenue as well as the development…