Corporate travel glossary

The corporate travel industry is loaded with jargon, acronyms, and sometimes seemingly made-up 'words'. And we get it, they can be confusing and hard to remember if you aren't using them every day.

Here's a quick guide to some of the more common, timely, and relevant terms being used in the travel industry today.

Any terms you think we should add to the list? Follow us on LinkedIn and comment with your request!

Chapters

Ancillaries

/ an-suh-ler-eez / noun

Extra products or services that airlines sell beyond the basic airline ticket. Think preferred seat selection, extra legroom, baggage fees, and in-flight Wi-Fi. It's another revenue source for airlines and is sometimes a negotiation point for business travel programs.

BAR

/ bee ey arr /   noun | acronym

Stands for best available rate. Aka the lowest room rate a hotel offers on a given day. Dynamic based on season, demand, and competition. In corporate travel, BAR is often used as a starting point for negotiating corporate rates.

Bleisure

/ blee-zhur / noun

A strange 'word' that's a blend of business travel and leisure travel, or combining work trips with personal holiday time. A growing travel trend that can boost employee satisfaction and support work-life balance.

Business travel program

/ biz-nis trav-uhl proh-gram / noun

When a company takes a strategic approach to managing travel to save money and improve efficiency. This includes things like a travel policy, preferred suppliers, booking tools, expense management, and traveler safety.

Change Management

/ cheynj  man-ij-muhnt /   noun

A process that helps introduce new practices or policies to your colleagues in an organized way. Includes communicating changes to employees, addressing concerns, and ensuring adoption that helps you achieve your travel goals.

Codeshare

/ kohd-shair / noun

An agreement between airlines to sell seats on each other's flights. It allows you to book a single ticket with one airline that could be operated by a partner. Expands route possibilities and makes air travel more convenient.

Continuous pricing

/ kuhn-tin-yoo-uhs  prahys-sing /    noun

A pricing strategy that allows airlines to continuously adjust prices in real-time based on demand, rather than being limited to pre-set fare levels. Could make rates more competitive.

CO2e

/ see oh too ee /   noun | acronym

Stands for carbon dioxide equivalent. Combines carbon dioxide (CO2) and greenhouse gas emissions to measure global warming potential. Used as a metric to track climate impact.

Duty of care

/ doo-tee uhv kair / noun

A company's legal and moral obligation to ensure the safety and wellbeing of its employees - especially during business travel. This includes tracking travelers' locations, providing emergency assistance, and crisis management plans.

Dynamic pricing

/ dahy-nam-ik prahys-sing /    noun

An airline pricing strategy setting ticket prices in real-time based on market conditions and customer demand. Leads to more personalized pricing and helpful service bundling (like Wi-Fi or seat selection).

Expense management software

/ ik-spens man-ij-muhnt soft-wair / noun

Tech software that tracks and manages business travel expenses. It makes life easier for both travelers and finance teams by automating expense reports and keeping an eye on spending. Often includes a mobile app for travelers.

FOP

/ ef oh pi /   noun | acronym

Stands for form of payment, aka what you use to pay for travel. Think corporate credit cards, personal cards, direct billing to the company, or virtual payment solutions. Travelers will find the approved FOP(s) in the travel policy.

GDS

/ jee dee es / noun | acronym

Stands for Global Distribution System (GDS). A large digital network and central marketplace that connects travel suppliers like air, hotel, car rental, and rail with travel agencies and online booking tools for inventory, pricing, and booking.

Ground Transportation

/ ground trans-pər-tey-shən / noun

A traveler's options for getting around once their flight has landed or train has arrived, includes rental cars, taxis, ride-hailing services, local trains, buses, and shuttles. It's an important part of business travel because it impacts both budgets and traveler satisfaction.

Managed travel

/ man-ijd trav-uhl / noun

The act of a business actively overseeing and controlling business travel activities. Usually involves structured travel policies, working with travel management companies, preferred travel suppliers, and using tech for booking, expense management, and reporting.

Marine fares

/ muh-reen fairz / noun

Special, more flexible airline ticket pricing for travelers in the maritime industry like ship and dock crew members and marine engineers. They better accommodate these travelers due to uncertain sailing schedules and last-minute changes.

Media fares

/ mee-dee-uh fairz / noun

Special airline prices offered to journalists and other media professionals. Usually require proof of media credentials and can offer discounted baggage rates for media equipment like cameras and technology.

NDC

/ en dee cee /  noun | acronym

Stands for New Distribution Capability. A technology standard created by International Air Transport Association (IATA) that aims to make flight shopping more transparent and personalized.

NDC lets airlines directly share information about their tickets, prices, and extra services (e.g. baggage, Wi-Fi, or seat upgrades) – something that wasn’t always possible through the older standard.

OBT

/ oh bee tee / noun | acronym

Stands for Online Booking Tool, which is a web-based and/or mobile platform that lets employees book their own business travel within company guidelines. Typically integrated with the company's travel policy and preferred suppliers.

RAC

/ ar ey see /   noun | initialism

Stands for rate access code, or a unique code used to access negotiated travel rates. RAC ensures that when travelers book hotels, they get the rates that you’ve negotiated.

SAF

/ es ey ef /  noun | acronym

Stands for sustainable aviation fuel. A more environmentally friendly alternative to conventional jet fuel that’s made from renewable resources. Works in existing aircraft engines and reduces carbon emissions.

Travel management

/ trav-uhl man-ij-muhnt / noun

The process of overseeing and optimizing a company's business travel activities. It involves tasks like setting travel policies, negotiating with suppliers, managing bookings, controlling costs, ensuring traveler safety, and analyzing travel data.

TMC

 / tee em see / noun | acronym

Stands for travel management company, aka a business travel agency. A specialized and strategic service provider (like Corporate Traveler) that offers a range of travel services and helps organizations oversee corporate travel.

Travel Policy

/ trav-uhl pol-uh-see/   noun

A set of guidelines that tells employees how to book travel, and get travel and expenses approved. Covers the rules for all aspects of corporate travel, usually to manage costs and keep travelers safe and secure.

It also shows how your travel management company will support and protect your business. Plus, it details how to support your company’s sustainability goals.