Dictionary

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.

Low Rise Building

Usually a building of 3 or 4 floors or less which usually houses office spaces and sometimes first floor retail space.
Origin: Vacation Rental Association

Market Share

The percentage of business within a market category.
Origin: Vacation Rental Association

Member

A person who has subscribed to any website membership plan.
Origin: Redstone Systems

Memberships

Customers who wish to utilize one or more of our websites must sign up for a Membership in that site. Each membership has a username, logon and Membership type. Some sites allow users to view some data before becoming members.
Origin: Redstone Systems

Mid Rise Building

A building, often used for office space and usually between four and 12 floors.
Origin: Vacation Rental Association

Net Rate

The rate provided to wholesalers and tour operators that can be marked up to sell to the customer.
Origin: Vacation Rental Association

Network Member

A person who owns a local vacation rental company in a geographic location, that is a member of the Sunspots Network. They are the key person in the are and may have other people who work for them. A member may also be referred to as a Networker, Operator, Manager or Property Manager.
See also: networker, manager, operator, property manager Origin: Vortex Organization

Network Operator

An alternate title for a person who owns a local vacation rental company in a geographic location, that is a member of the Sunspots Network. See Network Member.
See also: Network Member, Networker, Manager, Property Manager Origin: Vortex Organization

Networker

Refers to employs or subcontractors of Sunspot Network Members such as housekeepers, maintenance personnel, office staff and so forth.
See also: manager, network member, operator, property manager Origin: Istay

Order (Booking)

When a guest makes a booking online it is referred to as an Order until such time as a staff member accepts and confirms it. The software uses this word as a Booking Status.
See also: Abandoned, Aborted, Blocked, Cancelled, Confirmed, Hold, Incomplete, In Error, Out of Service, Quoted, Unblocked Origin: Vacation Rental Association

OTA - Online Travel Agent

Websites where guests can book lodging, airfare, rental cars and other services online. OTA's utilize Global Distribution Services (GDS) to display services and then to confirm them with the travel provider. Examples of OTA's are Expedia.com, Orbitz.com and Hotels.com but there are many others offering the same services.
Origin: Vacation Rental Association

Out of Service (Booking)

When a property is not available for rental it is Out of Service. Often this happens when a property requires maintenance. Our software uses this word as Booking Status
See also: Abandoned, Aborted, Blocked, Cancelled, Confirmed, Order, Hold, Incomplete, In Error, Quoted, Unblocked Origin: Vacation Rental Association

PayPal

A fast and convenient online payment service.
Origin: Plumbob Publishing

Property Manager

A person or company who manages real estate including commercial, residential and other properties. Should not be used for people who manage vacation rentals, as those should be called "Vacation Rental Managers" or "Lodging Managers"
See also: Vacation Rental Manager, Lodging Manager, Absentee Vacation Rental Manager, Corporate Vacation Rental Manager Origin: Vacation Rental Association

Province

See State
See also: Country, Destination, Location Origin: Redstone Systems

Quote (Booking)

Prior to receiving a guest's approval for purchase, a booking can be completed as a Quote to display all related detailed. This is NOT a commitment to sell the dates. Our software used this word as a Booking Status
See also: Abandoned, Aborted, Blocked, Cancelled, Confirmed, Order, Hold, Incomplete, In Error, Out of Service, Unblocked Origin: Istay

Rustication

Vacation in a rustic, rural or remote Inn, Lodge or Resort
Origin: William May Link: Rustications.com

State or Province

A State or Province is a sub-area of a Country. For our purposes Countries hold States. States hold destinations, Destinations hold Locations and Locations hold Properties, Resorts or Venues.
See also: Province, Country, Destination, Location Origin: Redstone Systems

SunPartners

A company which owns and offers vacation rental home ownership on a fractional basis. Segments of homes, usually 2 months in length are sold to owners who share ownership in one of several legal arrangements.
See also: Fractionals Origin: Istay

Sunspots Network

A group of independent real estate agents and lodging managers who utilize the Sunspots central office for a variety of services that support the offering and delivery of quality vacation rentals. Members subscribe to the best practices of the lodging industry and are contractually obligated to provide a consistent quality guest and owner experience.
Origin: Vortex

1 2 3 ... 13