Glossary

This Glossary is provided to users of the website as a guide to terms and information they may find helpful. Definitions are added, edited or removed occasionally.

GDS - Global Distribution Systems

Worldwide computer networks, originally developed to offer lodging, airfare, rental cars and other services to Travel Agents who, in turned booked guests into them using the network. There are four different GDS such as Aamdeus Sabre, Galileo & Worldspan,
Origin: Vacation Rental Association

High Rise Building

A building that may include various types of space, and often office space that is 12 or more floors in height.
Origin: Vacation Rental Association

Homeowner's Insurance

An insurance policy that combines personal liability insurance and hazard insurance coverage for a dwelling and its contents.
Origin: Vacation Rental Association

Leasehold Interest

When an owner of a property leases the property to second party, that party is said to have a leasehold interest. They have certain rights in regard to the use and disposition of the property but not the right to sell the property itself. This usually refers to a leasehold interest in land.
Origin: Vacation Rental Association

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

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 makrked 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

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

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

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

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

Sunspots Vacation Rentals Network

Network of Vacation Rental Management Companies, each independtly owned and operated operated by trained and certified managers in various geographic areas.
See also: Sunspots Network Origin: Vortex

Sunspotters

A program where guests who frequently rent from membes of the Sunspot Vacation Rentals Network and are given special priviledges for their loyalty. Also referred to as a "Frequent Stayer" club. There is no charge for joining Sunspotters
Origin: Sunspot Vacation Rentals

Wholesaler Lodging

A lodging operator who sells occupancy through other parties called retailers
See also: Retailers Origin: Redstone Systems

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DETAILS: Glossaries and Dictionaries are handy tools. They provide an indication of meaning but additional study may be necessary to comprehend the full meaning. There may be alternate definitions not included here and experts may disagree on the proper explanation of each term.

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