The Rice University Neologisms Database

a short form of the word “elevator” in common use at Sid Rich Shouting “Vator!” or “Hold vator!” generally means “Hold the elevator until I get there so I don’t have to wait for the next one.” Heard all the time, since Fall 2002 when I got here; I think this one goes pretty far back, but I didn’t find it in the dictionary yet. Mainly, it exists because it's quicker to say. In a related definition, the suites located behind the elevator shafts on each floor are called "vator suites," and so are referred to as, e.g., "I live in 7th lower vator," i.e., the suite on the lower half of 7th floor located behind the elevator.