last minute

Refers to travel products—such as flights, hotel stays, package holidays, cruises, or tours—booked very close to the intended departure or check-in date. In industry practice, this typically means reservations made within a short booking window, often from a few days to a few hours before travel. Within Travel Operations & Distribution, this concept is central…

FIT rate

Is a specially negotiated room price offered by hotels and other accommodation providers for independent travelers, typically through tour operators, travel agents, or online distribution partners, rather than directly to the public. These confidential, often net, rates are designed for “Free Independent Travelers” or “Fully Independent Travelers” whose itineraries are customized rather than part of…

dynamic pricing

In revenue management and travel distribution, this strategy refers to the practice of continually adjusting prices for flights, hotel rooms, tours, or ancillary services based on real-time and forecasted demand, market conditions, booking patterns, and competitive behavior. Rather than setting a fixed rate, travel suppliers use algorithms, historical data, and predictive models to increase or…