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biancaphilippe English 80 cards

Cards in this deck (80)

  1. 1Lodging IndustryAll the businesses that provide overnight accommodations for guests
  2. 2HotelAn establishment that provides sleeping rooms as well as various services to the traveling public
  3. 3HotelierThe owner/manager of one or more hotels
  4. 4MarketThe potential customers for a business's products and services
  5. 5TouristA person who travels for pleasure
  6. 6Value (lodging accommodations)the price paid to rent a room relative to the quality of the room and services received
  7. 7Full-service Hotela lodging facility that offers complete food and beverage services
  8. 8Room ServiceThe delivery of food and beverages to the hotel guest's sleeping room
  9. 9Limited-service HotelA lodging facility that offers no, or very restricted, food and beverage services. Also known as a "select-service hotel"
  10. 10Bed and Breakfast Innsvery small properties (one to several guest rooms) owned or managed by persons living on-site; these businesses typically offer one meal a day; also called B&B
  11. 11Camps/park lodgessleeping facilities in national, state or other parks and recreational areas that accommodate visitors to these areas
  12. 12Extended-stay hotelsa moderately priced, limited-service hotel marketing to guests desiring accommodation for extended time periods (generally one week or longer)
  13. 13Convention Hotela lodging property with extensive and flexible meeting and exhibition spaces that markets to associations, corporations, and other groups bringing people together for meetings
  14. 14Resorta full-service hotel with additional attractions that make it a primary destination for travelers
  15. 15Timesharea lodging property that sells its rooms to guests for use during a specific time period each year; also called vacation ownership property
  16. 16Private Clubsmembership organizations not open to the public that exist for people enjoying common interests. Examples include country (golf) clubs, city clubs, university clubs, yacht clubs and military clubs. Some private clubs offer sleeping rooms for members and guests
  17. 17Cruise Shipa passenger vessel designed to provide leisure experiences for people on vacation at sea
  18. 18Casinoa business that offers table and card games along with (usually) slot operations and other games of skill or chance and amenities that are marketed to customers seeking gaming activities and entertainment. Many casinos offer lodging accommodations for their visitors
  19. 19Average Daily Rate (ADR)the average (mean) selling price of all guest rooms in a hotel, city or country for a specific time period
    ADR= revenue from room sales/# of rooms sold
  20. 20Occupancy Ratethe ratio of guest rooms sold (or given away) to the number of guest rooms available for sale in a given time period and expressed as a percentage
    total rooms sold/total rooms available
  21. 21RevPAR (Revenue Per Available Room)the average revenue generated by each guest room available during a specific time period. RevPAR combines the information from ADR and occupancy rate into a single measure
    ADR x Occupancy Rate= RevPAR
  22. 22GOPPAR (Gross Operating Profit Per Available Room)the amount of profit made from room sales divided by the number of rooms available to sell
    Gross Operating Profit/Rooms Avail. to sell= GOPPAR
  23. 23Gross Operating ProfitThe amount of revenue generated in a defined time period minus its management controllable expenses for that same period
  24. 24Hotel Shuttlea vehicle used by a hotel to transport guests to and from such destinations as airports, restaurants and shopping
  25. 25Hubtypically, a big-city airport within a short driving distance of a very large population center. These mega-airports are used to economically connect travelers with flights to their desired departure and arrival cities
  26. 26Chartera form of transportation rented exclusively for a specific group of travelers. Planes and buses are often chartered for group travel
  27. 27Travel Agenta professional who assists clients in planning and purchasing travel
  28. 28Packagea group of travel services, such as hotel rooms, meals and airfare, sold for one price. for example, a valentine's day getaway package to Las Vegas suggested by a travel agent might include airfare, lodging, meals, and show tickets for 2 people at an all inclusive price
  29. 29Global Distribution System (GDS)commonly referred to as GDS, this computer system connects travel professionals worldwide for the purpose of reserving hotel rooms and other services for their clients
  30. 30Online Travel Agent (OTA)an organization that provides travel booking services on the Internet
  31. 31Tour Operatora company or individual who plans and markets travel packages
  32. 32Guided TourA group tour package that includes the services of one or more tour guides
  33. 33Professional Developmentthe process by which hoteliers continue to improve their knowledge and skills
  34. 34Trade Showsan industry-specific event that allows suppliers to an industry to interact with, educate, and sell to individuals who are part of the industry; also called an exhibition
  35. 35Vendorsthose who sell products and services to hoteliers
  36. 36Return on Investment (ROI)the percentage of financial return achieved on the money invested in a hotel property
    After tax profits/total hotel investment= ROI%
  37. 37Profitthe money remaining after all the expenses of operating a business have been paid
    revenue-expenses=profit
  38. 38Depreciationthe reduction in the value of an asset as it wears out. This noncash expense is often termed a "tax write-off" because the decline in the value of the asset is tax deductible
  39. 39AppreciationThe increase, over time, in the value of an asset. The amount of the increases value is not taxed unless the asset changes hands (is sold).
  40. 40Owner/OperatorA hotel investor who also manages (operates) the hotel
  41. 41General Manager (GM)The traditional title of the individual at a hotel property who is responsible for final decision-making regarding property-specific operating policies and procedures. Also, the leader of the hotel's management team
  42. 42Management Companyan organization that operates a hotel for a fee. Sometimes called a "contract company"
  43. 43Depressed Marketa hotel market area where occupancy rates and/or ADRs are significantly below their historical levels
  44. 44RepossessionThe taking back of a property by a seller or lender, usually in response to nonpayment by the buyer
  45. 45First Tier (management company)Management companies that operate for owners using the management company's trade name as the hotel brand. Hyatt, Hilton and Sheraton are examples
  46. 46Second Tier (management companies)Management companies that operate hotels for owners and do not use the management company name as part of the hotel name. American General Hospitality, Summit Hotel Management and Winegardner and Hammons are examples
  47. 47Liablelegally bound to compensate for injury or loss
  48. 48Management Contractan agreement between a hotel's owners and a hotel management company under which, for a fee. the management company operates the hotel. Also sometimes called a "management agreement" or an "operating agreement"
  49. 49Buy OutAn arrangement in which both parties to a contract agree to end the contract early as a result of one party paying the other the agreed-upon financial compensation
  50. 50Franchisean arrangement whereby one party (the franchisor) allows another party to use its logo, brand name, systems, and resources in exchange for a fee
  51. 51FranchisorAn organization that manages a brand and sells the right to use the brand name
  52. 52Franchiseean individual or company that buys, under specific terms and conditions, the right to use a brand name for a fixed period of time and at an agreed-upon price
  53. 53BrandThe name of a specific hotel group. For example, Holiday Inn and Comfort Inn are two different brands. Additional examples of brands include Hyatt, Hampton Inn, Super 8 and Radisson
  54. 54Chainthe hotels operated by a group of franchises who have all franchised the same hotel brand name. Also called a "brand" or "flag"
  55. 55Conversionthe changing of a hotel from one brand to another also known as "re-flagging"
  56. 56System-widethe term used to describe a characteristic of all hotels within a single brand. Used, for example in: "Last year, the system-wide ADR for our brand was $99.50"
  57. 57Franchise Agreementa legal contract between a hotel's owners (the franchisee) and the brand managers (the franchisor) that describes the duties and responsibilities of each in the franchise relationship
  58. 58Federal Trade Commission (FTC)government agency that enforces federal antitrust and consumer protection laws. it also seeks to ensure that the nation's business markets function competitively and are free of undue restrictions caused by acts or practices that are unfair or deceptive
  59. 59Franchise Offering Circular (FOC)franchise disclosure document prepared by a franchisor and registered and filed with the state governmental agency responsible for administering franchise relationships
  60. 60Brand Standarda hotel service or feature that must be offered by any property entering or remaining in a specific hotel brand. for example "the franchisor has determined that free wireless internet access in all guest rooms will become a new brand standard effective on January 1st of next year"
  61. 61Asian American Hotel Owners Association (AAHOA)an association of hotel owners who, through an exchange of ideas, seek to promote professionalism and excellence in hotel ownership
  62. 62Market Sharethe percentage of total market (typically measure in dollars spent) captured by a property
  63. 63Managementthe coordination of individual efforts to achieve established goals
  64. 64Planningthe process of considering the future and establishing goals for an organization
  65. 65Short-range Goalsgoals that are to be achieved in the very near future (usually less than one year). Sometimes called "short-term goals"
  66. 66Long-range Goalsgoals that are to be achieved over an extended period (usually longer than one year). sometimes called "long-term goals"
  67. 67Organizingactions designed to bring together and arrange the resources of a group to help it achieve its goals
  68. 68Directingthe process of supervising staff members in the workplace
  69. 69Controllingthe process of comparing actual results to planned results and taking corrective action as needed
  70. 70Authoritythe power or right to direct the activities of others and to enforce compliance
  71. 71Organizational Charta visual portrayal of the jobs and positions of authority within an organization
  72. 72FF&Ethe furniture, fixtures, and equipment used by a hotel to service its guests
  73. 73Role Modelan individual who displays positive personal and professional characteristics that others find desirable
  74. 74Mentorto serve as a personal teacher. AKA a guide or coach
  75. 75Line-Levelemployees whose jobs are nonsupervisory. these are typically positions where the employee is paid a per-hour wage (not a salary) and performs a recurring and specific task for the hotel. sometimes referred to as an "hourly" employee
  76. 76Compshort for "complimentary" or "no-charge" for products or services
  77. 77Quality Inspection Scoressometimes called Quality Assurance (QA) scores, these scores are the result of annual (or more frequent) inspections conducted by a franchise company to ensure that franchisor-mandated standards are being met by the franchisee. In some cases, management companies or the property itself may also establish internal inspection systems. In general, however, it is the franchise company's quality inspection score that is used as a measure of the effectiveness of the general manager, the hotel's management team, and the owner's financial commitment to the property
  78. 78Regional Managerthe individual responsible for the operation of multiple hotels in a designated geographic area. in some companies, the person's title may be area or district manager
  79. 79Line of Authoritya direct superior-subordinate relationship in which one person (the superior) is completely responsible for directing and exercising control over the actions of another (the subordinate)
  80. 80Direct Billa financial arrangement whereby a guest is allowed to purchase hotel services and products on credit terms

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Flashcards on Untitled, created by biancaphilippe on 17/09/2013.
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biancaphilippe
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