11
F & B : Food and Beverage .
FTSE : Financial Times Stock Exchange .
GDPR : General Data Protection Regulation .
GDS : Global Distribution System ( e . g . Amadeus , Travelport , Sabre ).
Gen Z : Generation reaching adulthood in the second decade of the 21st century .
GHG : Greenhouse gas .
GSAIR : Global Serviced Apartment Industry Report .
Homestay : Generic term for products like Airbnb , or home rental .
ITM : Institute of Travel Management .
LOS : Length Of Stay .
M & A : Merger and Acquisition .
NDC : New Distribution Capability .
OBT : Online Booking Tool .
Occupancy : Percentage of occupied bedrooms / apartments during a set period .
OTA : Online Travel Agent ( e . g . Expedia , Booking . com ).
PMS : Property Management System .
QR : Quick Response ( commonly referred to as QR code ).
Relocation :
Relocation ( also referred to as Relo ), involves permanently moving an employee , and family , to another city or country .
RevPAR : Revenue Per Available Room .
RFP : Request For Proposal .
RMC :
A Relocation Management Company provides outsourced relocation logistics management for organisations of different sizes and needs .
ROI : Return On Investment .
Serviced living :
TMC :
Generic term to describe the expanding number of emerging extended stay concepts . Fully furnished accommodation including kitchen facilities , with some private and communal spaces .
A Travel Management Company manages the business travel requirements of an individual or organisation , in line with their corporate travel policies , where relevant .