GSAIR 2024 10
GLOSSARY OF TERMS
Several acronyms or abbreviations are used in this report . These are as follows :
ADR : Average Daily Rate .
Agent :
Used more generally to describe an intermediary , either individual or company , booking travel or accommodation on behalf of another party .
AI : Artificial Intelligence .
APAC : Asia-Pacific .
Aparthotel :
Fully furnished and equipped apartments , which include hotel services such as manned reception and cleaning . Typically used for shorter stays and suitable for business and leisure use .
API : Application Programming Interface .
ASAP : Association of Serviced Apartment Providers .
Assignment working :
A short or long term stay , undertaken to perform a specific task or project based trip . Stays can last between 30 days and three years and are temporary , whereas Relocation ( see below ), is permanent . Assignment workers are often referred to as assignees .
Business travel :
Journey specifically taken for work purposes , usually but not always up to seven days . Business travel excludes daily commuting , leisure trips or holidays .
CHPA : Corporate Housing Providers Association .
Co-living :
Corporate housing :
Co-living refers to accommodation where multiple unrelated people can live together . Units usually contain large communal spaces as well as private bedrooms . Developments often feature social areas and programmes designed to foster a sense of community .
Residential apartments , packaged up to include servicing and bills , typically bookable for a minimum of 30 nights , either let and maintained by the operator on an ongoing basis or rented specifically for a particular housing requirement and length of time , after which they are handed back to the owner . Corporate housing is also the term used in the U . S . to describe serviced apartments .
CRM : Customer Relationship Management .
DE & I : Diversity , Equity , and Inclusion ( also referred to as EDI ).
DSP : Destination Service Provider .
EMEA Europe , the Middle East , and Africa .
ESG : Environmental , Social , and Governance .