Vacation Rental Glossary
API is an acronym for Application Programming Interface. It is a software intermediary that allows two or more applications to communicate with each other. You can create an integration between two software platforms that allow data sharing.
Channels are places where people list their property and guests can book slots there. Example, tripadvisor, booking.com, etc. You can list your property, book slots for guests, and automatically send bookings to the property management system or channel manager through channels.
Online Travel Agencies (OTA)
OTAs are places where people can book hotels, short term rentals, cars, and tours. You can list your service, book slots for guests, and automatically send bookings to the property management system or channel manager through channels.
A channel manager is a software tool that allows you to sell rooms on several connected booking sites (channels) simultaneously. The software will automatically update your availability across sites when a booking is made. Essentially, it is the technological equivalent of having a 24/7 global sales and reservations department.
Property management System
Property management systems (PMS) are designed to take care of the day-to-day operations of vacation rentals. They integrate with various other systems offering a wider range of operations management tools such as storing and tracking availability of all accommodations, coordinating cleaning & maintenance activities, guest messaging, and sending availability and rate information to the channel manager.