> For the complete documentation index, see [llms.txt](https://revhero.gitbook.io/revhero-docs/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://revhero.gitbook.io/revhero-docs/support/glossary/f.md).

# F

Hotel and revenue management terms beginning with F.

## Fair Market Share

The share of the market you would expect to hold, based only on your size against the size of your comp set.

**Fair market share = your rooms ÷ total rooms in the comp set**

Your hotel has 120 rooms. The comp set, including you, has 600 rooms. Your fair market share is 120 ÷ 600 = 20%. If you are taking less than 20% of the business, you are below your fair share.

**See also:** [Comp set](/revhero-docs/support/glossary/c.md) · [MPI](/revhero-docs/support/glossary/m.md) · [RGI](/revhero-docs/support/glossary/r.md) · [Hotel market share](/revhero-docs/support/glossary/h.md)

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## Fam Trip (Familiarisation Trip)

An organised visit that a hotel, chain, airline or tourist board arranges for travel agents, media or other trade professionals.

The guests see the product for themselves, so that they can sell it with confidence afterwards.

**See also:** [GDS marketing](/revhero-docs/support/glossary/g.md) · [Distribution channel](/revhero-docs/support/glossary/d.md)

***

## Feeder City

A city that sends travellers on to a larger hub or gateway city.

Knowing your feeder cities tells you where your guests start their journey, so you can aim your marketing at those places.

**See also:** [Hotel market segments](/revhero-docs/support/glossary/h.md) · [Distribution strategy](/revhero-docs/support/glossary/d.md)

***

## Fenced Rate

A rate a guest can only book if they meet a condition — booking by a certain date, staying a minimum number of nights, or belonging to a defined group.

The condition is the fence. It lets you offer a lower price to the guests you want, without opening that price to everyone.

**See also:** [Rate fence](/revhero-docs/support/glossary/r.md) · [Early bird discount](/revhero-docs/support/glossary/e.md) · [MinLOS](/revhero-docs/support/glossary/m.md) · [Non-refundable rate](/revhero-docs/support/glossary/n.md)

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## Flexible Rate

A rate plan that allows free cancellation up to a deadline, such as 24 or 48 hours before arrival. It is priced above the non-refundable rate because you carry the cancellation risk.

Most guests choose a flexible rate. The gap between your flexible and non-refundable prices should reflect how often your bookings are actually cancelled.

**See also:** [Non-refundable rate](/revhero-docs/support/glossary/n.md) · [BAR](/revhero-docs/support/glossary/b.md) · [Cancellation rate](/revhero-docs/support/glossary/c.md) · [Rate plan](/revhero-docs/support/glossary/r.md)

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## Forecast

Your estimate of future bookings, revenue and demand, built from past performance and what is already on the books.

A forecast tells you what the period will look like if nothing changes. You then decide whether to act — change rates, add an offer, or hold.

**See also:** [Demand forecasting](/revhero-docs/support/glossary/d.md) · [Forecast accuracy](#forecast-accuracy) · [Budget](/revhero-docs/support/glossary/b.md) · [Pace](/revhero-docs/support/glossary/p.md)

***

## Forecast Accuracy

How close your forecasts came to what actually happened. It is normally measured as the mean absolute percentage error, or MAPE.

**MAPE = average of ( |forecast − actual| ÷ actual ) × 100**

You forecast 1,000 room nights for a month and sold 900. The error is 100 ÷ 900 = 11%. Do this for every period, then average the results.

Your decisions are only as good as the forecast behind them, so it is worth measuring.

**See also:** [Forecast](#forecast) · [Demand forecasting](/revhero-docs/support/glossary/d.md) · [Budget](/revhero-docs/support/glossary/b.md)

***

## Forecasted Revenue (REV FCST)

The revenue you expect to finish with for a stay date or a period. It is what you hold now plus the revenue you expect still to book.

**Forecasted revenue = revenue on the books + expected pickup revenue**

You hold €15,000 for 15 August and expect €5,000 more to come in. Forecasted revenue = €15,000 + €5,000 = €20,000.

Compare it against your budget and against last year. Unlike the budget, which is fixed once set, the forecast is updated as the position changes.

**See also:** [OTB](/revhero-docs/support/glossary/o.md) · [Budget](/revhero-docs/support/glossary/b.md) · [LY actual](/revhero-docs/support/glossary/l.md) · [Forecasted room nights](#forecasted-room-nights-rn-fcst) · [Pickup](/revhero-docs/support/glossary/p.md)

***

## Forecasted Room Nights (RN FCST)

The number of room nights you expect to sell over a future period.

Your hotel forecasts 1,400 room nights for October. You compare that against what is on the books, against your budget, and against last year. The gap tells you whether you need to act on price or promotion to reach the target.

**See also:** [Room nights](/revhero-docs/support/glossary/r.md) · [Forecasted revenue](#forecasted-revenue-rev-fcst) · [OTB](/revhero-docs/support/glossary/o.md) · [Budget](/revhero-docs/support/glossary/b.md)

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## Free of Charge (FOC)

An item or service given to the guest at no cost.

It is used for complimentary rooms, upgrades, meals and extras — anything added to the stay without a charge.

**See also:** [Complimentary](/revhero-docs/support/glossary/c.md) · [Upsell](/revhero-docs/support/glossary/u.md)

***

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