I - Glossary

What is IDS? IDS refers to Internet Distribution System.

What is incentive pay? Incentive pay is additional pay for up-selling products and services to hotel guests. Hotel managers typically offer incentive pay to their reception team if they are able to convince arriving guests to upgrade their room.

What is incremental business? Incremental business are guests the organization would not otherwise obtain.

What is induce trial? Induce trial is the practice of enticing customers to try out new products or services.

What does inelastic mean? Inelastic is an economic term relating to the dynamics of supply and demand. Whenever a 1 percent change in price causes less than a 1 percent change in the quantity supplied or demanded, the elasticity calculation will result in a number less than 1.

What is an Internet Distribution System? Internet Distribution System is an electronic system that facilitates purchases of hospitality products and services by consumers.

What is inventory? Inventory refers to products or services made available for sale through various channels of distribution. In the context of hotels, inventory is the number of rooms available to be booked.

What is inventory management? Inventory management is the process of controlling the units and availability of products and services across various channels of distribution.

What is perfectly inelastic? Perfectly inelastic is a term used in the hotel industry to describe the relationship between supply and demand.

What is perishable inventory? Perishable inventory are products or services that possess the possibility of spoilage or loss. Food is a perishable commodity.