Article -> Article Details
Title | Business Travel Glossary: Essential Terms and Definitions |
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Category | Business --> Accounting |
Meta Keywords | Business Travel For Glossary |
Owner | travelbposervice |
Description | |
Corporate operations are greatly supported by business travel, which allows professionals to interact with clients, visit conferences, and discover potential new markets. To best handle this dynamic sector, having a grasp of key terms will help. This Business Travel For Glossary presents definitions of core business travel terms to support effectiveness and communication in corporate travel management. Advance Purchase Requirement – A condition by hotels and airlines where reservations need to be booked several days in advance in order to avail discounted fares. Airfare Class – Various types of seating in airlines, e.g., economy, business, and first class, which all have a level of service and price to it. Bleisure Travel – Blending business and vacation travel, with businesspeople taking company trips and adding on their own personal time off. Blackout Dates – Special dates when lower fares or promotions are not available because of peak demand. Carbon Offset – A scheme enabling passengers to offset carbon emissions by paying for environmental initiatives. Corporate Rate – A special rate structure provided to companies that regularly book travel arrangements with airlines and hotels. Duty of Care – An organization's legal and moral obligation to protect employee safety while traveling on business. Electronic Ticket (E-Ticket) – A digital replica of an airline paper ticket utilized for ticketing and flight boarding. Expense Report – The report presented by employees to reclaim reimbursement for their business travel expense. Frequent Flyer Program – An air carrier loyalty plan that rewards frequent flyers with miles or points, which are converted into tickets and upgrades. Global Distribution System (GDS) – A computerized network employed by travel agencies to make flight, hotel, and car rental reservations. Hotel Loyalty Program – Rewards program provided by hotel chains which offers rewards in the form of discounts, complimentary stays, or room upgrades for frequent visitors. Itinerary – A detailed outline of a traveler's schedule including flight schedules, hotel reservations, and meetings. Last-Minute Booking – Travel booked near the date of departure, frequently at a premium rate. Mileage Reimbursement – Reimbursement by companies to employees for work-related travel using personal cars, usually based on miles traveled. Non-Refundable Ticket – A ticket that cannot be canceled or refunded, frequently available at a reduced price. Online Booking Tool (OBT) – An online platform used by companies to organize and coordinate employee travel. Per Diem – An everyday allowance paid to workers to defray traveling expenses like food and accommodations. Preferred Vendor – An approved company travel supplier with negotiated prices and advantages. Red-Eye Flight – An evening flight that touches down at the destination in the morning. Room Block – A group of rooms reserved for an organization, normally at a discount rate. Seat Upgrade – A feature that lets passengers upgrade to a different class of service, usually for an extra cost or as part of a loyalty program. Travel Insurance – Protection against trip cancellation, medical issues, and lost luggage. Travel Management Company (TMC) – A company dealing with corporate travel management, rate negotiation, and policy compliance. Visa on Arrival – An entry document received on arrival into a foreign country, doing away with the requirement of prior approval. Conclusion Knowledge of business travel vocabulary makes things more efficient, economical, and adhering to corporate regulations. Booking air travel, dealing with expenditures, or assuring traveler security – having the correct knowledge helps the professionals in all these operations to go through corporate travel easily and effectively. |