Build Your Business Acumen: An HSMAI Sales Glossary

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As the silos in hotel organizations continue to erode, hotel sales professionals are increasingly expected to engage at a higher level with asset managers and owners (not to mention GMs, revenue management teams, and marketing). In those interactions, sales leaders must demonstrate their knowledge of the sales discipline AND all of the hotel’s operations and functions that run parallel with sales. This kind of business acumen validates your proficiency and shows those colleagues and stakeholders that they can trust you and rely on your performance. One easy way to brush up on your business acumen is to sharpen your understanding of the acronyms, jargon, and terminology used in and around the business of hotels. It will strengthen your skills, build your reputation as a knowledgeable team member, and form the foundation for your future success. HSMAI’s Sales Advisory Board identified these terms that every hotel sales professional needs to know.