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Visit Grand Junction Definitions & Acronyms

 

  • OCC
    • Occupancy represents the percentage of rooms at a lodging property that are occupied at a given time. For example, if the occupancy is 85% for a hotel that has 100 rooms that means that 85 of the 100 rooms were occupied for the given period of time.

 

  • ADR
    • Average Daily Rate measures the average rental revenue earned for an occupied room per day. This metric only covers revenue-generating guestrooms and is a key metric used in calculating RevPAR. A hotel has different rates for different rooms on any given day. ADR averages all the overnight room rates for the given period of time.

 

  • RevPAR
    • Revenue Per Available Room is one of three key performance indicators for lodging properties. RevPAR is calculated by multiplying a hotel’s average daily room rate by the occupancy rate. It can also be calculated by dividing the total room revenue by the number of available rooms. RevPAR measures the overall success of a hotel. An increase in RevPAR means that the average room rate and/or occupancy has increased. As with all data, one metric alone is not a good measure of overall performance, so RevPAR is best suited as a comparison tool. Having a low ADR, but a high occupancy results in a low RevPAR. The goal is to achieve a high ADR with a moderate to high occupancy, resulting in a high RevPAR.

 

  • MoM
    • Month-over-Month compares two metrics over the same period, which in this case is month over previous month.

 

  • YoY
    • Year-over-Year compares two metrics over the same period, which in this case is year over previous year.

 

  • YTD
    • Year to Date represents the period of time, beginning the first day of the current calendar year up to the current date.

 

  • Collections
    • Collections refers to taxes collected from consumers and remitted by businesses to the City of Grand Junction. 

 

  • STR
    • Short-term rentals are private vacation homes that are rented out for overnight guest stays.

 

  • PR
    • Press relations (also known as earned media) is the process of building and maintaining relationships with print and broadcast media. The goal of press relations is to increase awareness of the destination including its products and services. PR is the most trusted form of content and carries more credibility because it is independently verified by a third party, rather than a paid ad. A combination of earned, owned, and paid media = a successful brand.

 

  • Press
    • Press is used to describe journalists who create content for media content (print, online, TV, etc).

 

  • Ad Value
    • Ad Value refers to the value of editorial coverage as advertising space. In other words, what would the cost be to contract for the same amount of space as advertising. The editorial coverage of a reputable third-party publisher can have a large impact and provide value in terms of brand awareness. It adds a dollar amount to editorial coverage making it equivalent to the advertising cost.

 

  • Stakeholder
    • Stakeholders are businesses, organizations, and individuals that have a stake or interest in the efforts and activities of a business or organization. For example, tourism businesses are stakeholders of the Destination Marketing Organization because the efforts of promoting and marketing tourism in an area impact the tourism businesses. 

 

  • DMO
    • A Destination Marketing Organization promotes, markets, and strengthens brand awareness of a destination to create a positive impact on the local economy. Consumer spending supports restaurants, lodging properties, retail, and activity-based businesses. DMOs are essential to the economic and social well-being of communities, driving economic impact, enhancing the quality of life, and fueling development across the economic spectrum – even beyond tourism businesses.

 

  • Destination Management
    • Visit Grand Junction’s “True North” – essentially, protect the resource and enhance the experience for locals and guests through promotion and marketing (as prescribed by the ballot language). Destination management strategies support sustainable tourism, ensuring that destinations remain attractive, competitive, and economically viable while also preserving and protecting natural and cultural resources. This strategic approach benefits local communities, businesses, residents, and guests, by fostering responsible travel practices and promoting long-term sustainability.

 

  • CTO
    • CTO refers to the Colorado Tourism Office, which is Colorado’s Destination Marketing Organization. 

 

  • Grand Junction Area
    • Represents all of Mesa County (similar to Denver area, Colorado Springs Area, LA area, etc.)

 

  • Earned, Owned, Paid Media
    • Earned – Primarily PR invested in creating awareness for the brand. Although this does require time and financial investment, the third-party recommendation carries considerable influence with consumers.
    • Owned – Primarily owned channels such as website, visitor guide, apps, and social media. 
    • Paid – Paid advertising placed with a financial investment in order to produce a quantifiable ROI.