From ADR to FAM trips, the MICE industry has hundreds of specialised terms. This glossary covers the 50 most important —...
MICE stands for Meetings, Incentives, Conferences, and Exhibitions. It describes the professional events industry that organises corporate and association meetings, incentive travel programmes, large conferences, and trade fairs. The MICE sector generates over €440 billion in annual economic impact in Europe alone.
ADR stands for Average Daily Rate — the average revenue per occupied hotel room per night. For event planners, the ADR in your contracted room block determines your total accommodation cost. A lower ADR means more room for F&B spend in your budget.
A FAM (Familiarisation) trip is an organised visit to a venue or destination, offered free or at reduced cost by hotels, CVBs, or DMCs to event planners and buyers. The goal is to let planners experience the destination firsthand so they can recommend it to clients.
RevPAR (Revenue Per Available Room) is a hotel performance metric. It matters to planners because hotels with low RevPAR are more motivated to negotiate — they need room block business to hit targets. Peak RevPAR periods (summer, major city events) mean less negotiating room for you.
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