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12 Cards in this Set
- Front
- Back
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Hotel industry defined as... |
Businesses that provide overnight accommodations, food and beverage service, and supporting amenities (pool, shops, concierge)which contribute to the customer’s leisure experience
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Accommodations (Non Commercial) |
private non profit institutional |
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Accommodations (commercial) |
hotels motels bed and breakfast time share facilities |
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Franchising
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A concept that allows a company to use other peoples’money for growth rather than financing
Franchising is used to rapidly expand businesses |
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Benefits to the franchisee:
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-Standard set of plans
-National advertising -Centralized reservation system -Participation in volume discounts - Listing in franchisor’s directory -Lower fee percentage charged bycredit card companies |
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Drawbacks to the franchisee:
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-High fees
-Central reservation system accountsfor about 7–26% of reservations -Conformity - Must maintain standards |
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pros for franchise company/franchisor
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Increased market share and recognition
Up-front fees |
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cons for franchise company/franchisor
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Careful in selection of franchisees
Difficulty maintaining standards and controls
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Risks for operator:
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Low risk, lower return
Little influence on decisions Risk of contract termination |
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Risks for owner:
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Loss of control
Difficulty of contract termination Fees reduce profit |
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Hotel Terminology
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full service limited service |
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types and location |
city center, resort, airport, casino, convention, freeway hotel and motel, economy/budget, boutique, bed and breakfast inns |
