Business travel comes with its own set of industry terms, policies, and jargon that can sometimes feel a little overwhelming. Whether you’re a frequent corporate traveller, a travel manager, or the decision-maker for a company looking to optimise your travel programme, understanding these terms can help you navigate bookings, expense management, and compliance with greater ease.
This glossary covers some essential terms that apply to corporate travel, from airline policies to payment methods and risk management. Knowing these will not only help streamline your travel experience but also ensure your business gets the most value from its travel programme.
| Terminology | Explanation |
|---|---|
| Ancillary Services | Additional services are offered by airlines or hotels beyond the basic fare, such as extra baggage, seat selection, in-flight meals, or Wi-Fi access. |
| Bleisure Travel | The blending of business and leisure travel, where a corporate trip is extended to include personal time at the destination. |
| Booking Class | The fare category assigned to an airline ticket affects pricing, change fees, and benefits such as upgrade eligibility. |
| Carbon Offset Programme | A sustainability initiative that allows travellers or companies to compensate for their carbon footprint by funding environmental projects. |
| Code Share Agreement | A partnership between airlines that allows passengers to book flights with one airline but fly on another, expanding travel options. |
| Corporate Travel Policy | A company’s internal guidelines that define how employees should book and expense travel while ensuring compliance and cost control. |
| Dynamic Pricing | A strategy where travel service providers adjust prices in real-time based on demand, market conditions, and other factors, leading to fluctuating rates. |
| Duty of Care | A company’s legal and ethical responsibility to ensure the safety and well-being of employees while they travel for work. |
| Fare Rules | The terms and conditions attached to a specific airline fare, detailing refundability, change fees, and other restrictions. |
| Frequent Flyer Programme | A loyalty scheme offered by airlines that rewards travellers with miles or points for flights, which can be redeemed for upgrades, tickets, or other perks. |
| GDS (Global Distribution System) | A travel booking platform used by agencies to access airline, hotel, and car rental inventory in real time. |
| Hotel Rate Guarantee | A corporate agreement ensuring preferred rates and benefits when booking through an authorised travel provider. |
| Itinerary Management | The process of organising and tracking all elements of a business trip, including flights, hotels, and ground transportation. |
| Layover | A stop at an airport between connecting flights, which can be short (a few hours) or long (overnight or more). |
| Loyalty Programme | A scheme where corporate travellers earn rewards or discounts for frequent stays at hotels, airlines, or car rental companies. |
| Open-Jaw Ticket | An airline ticket where the traveller flies into one city and departs from another, or departs from one city and returns to a different one, allowing for more flexible itineraries. |
| Per Diem | A daily allowance is provided to employees to cover expenses such as meals, lodging, and incidental costs while travelling for business. |
| Preferred Supplier | A travel service provider with whom a company has negotiated rates or agreements, often resulting in cost savings and added benefits for corporate travellers. |
| Repatriation Insurance | Coverage that ensures travellers can be returned home in the event of a medical emergency or other crisis. |
| Seat Selection Fee | A charge is applied by airlines for choosing a specific seat in advance, particularly for premium or exit-row seating. |
| Travel Risk Management | The process of identifying, assessing, and mitigating risks associated with business travel to ensure the safety and well-being of travellers. |
| Trip Disruption Protection | Insurance or policy coverage that compensates for unexpected travel changes, such as delays, cancellations, or missed connections. |
| Unmanaged Travel | Business travel that occurs outside of an organisation’s established travel programme or policies, often leading to challenges in tracking expenses and ensuring traveller safety. |
| Virtual Payment | A secure payment method that uses virtual credit card numbers for specific transactions, reducing fraud risk and simplifying expense management. |
| Waiver | A written acknowledgment that a passenger has declined something, such as insurance coverage for a trip, or the formal dismissal of a requirement, such as a penalty for late booking. |
| Yield Management | A variable pricing strategy based on understanding, anticipating, and influencing consumer behaviour to maximise revenue from a fixed, perishable resource, such as airline seats or hotel room reservations. |
Corporate travel can be complex, but understanding key industry terms helps business travellers and companies make more informed decisions. From optimising expenses to ensuring duty of care and leveraging preferred supplier agreements, staying informed is essential to a smooth and efficient travel experience.
At TravelManor, we specialise in helping businesses navigate the corporate travel landscape with expert guidance, seamless booking solutions, and risk management support. Get in touch with our team today to find out how we can enhance your business travel programme and make every journey as efficient and stress-free as possible.