CHAPTER 1: Flashcards
Latin word of hotel
hoste or oste
Person or thing that provides something for a guest like lodging or food
Host
Hostel derived from host meaning _____.
Inexpensive inn
Relationship between ownership and management
Lodging management associations
Hotel run by owner and its family
Owner operated
Run by owner and hired non family personnel
Owner managed
Not chain affiliated, responsible to the owner for hotels performance
Independent
Owner has no role in management or day to day operation
Independent
Independently owned hotels that the philippines themselves with a chain
Franchised
Pays a franchise fee to the chain
Franchisee
Paid in exchange for the rights to use the need
Franchiser
Provides consumer with an avenue to locate a hotel of choice in certain location
Centralized reservation system (CRS)
Agreement between investors or owners of a project, management company hired for coordinating and overseeing a contract
Management contract
Greater quality control
Management contract
Less quality control
Franchising
Result of a product or service a hotel makes available to the guest for a price
Revenue sources
Main product of any hotel
Sleeping room
The price of each room
Room rate
Measurement of how many rooms sold vs. how many rooms available to sell
Occupancy
Meeting meal, dance, exposition or any gathering of more than 1 person
Group function
Selling the price for a specified period
Room rental
Providing fnb service in this room
Banquet or catering service
Comparing the sales revenue vs. the cost incurred providing service or product
Profit margin
What it cost the hotel to keep room in relation to what that room is solved for the average guest
Room cost analysis
Cost of a particular food item in relation to the price sold
Food cost
Guess who are staying at hotel and will for convenience the lack of other option utilize the outlets in the hotel
Captive audience
Sleeping rooms at hotel are considered perishable
Opportunity cost
Catering business acquired by a hotel that has all the attendance staying at the hotel itself
Group catering contribution
Provides clear cut directions and detail instructions needed to perform a specific task operation consistently
Standard operating procedure (SOP)
