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46 Cards in this Set
- Front
- Back
RevPAR |
measure of the revenue that’s generated by a property in terms of each room available Room revenue/ total # of rooms available revenue/supply = $$ |
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People reserver rooms online |
about $20 to $21 in profits per transaction |
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Spirits |
made from a liquid that has been fermented and distilled; high percentage of alcohol, gauged in the US by it’s proof content. (Proof is equal to 2x the % of alcohol in the beverage; ex: 80 proof = 40% alcohol) Usually enjoyed before or after a meal. Fermentation takes place by the action of yeast on sugar-containing substances, such as grain or fruit. Whisky (scotch whisky, Irish whisky, bourbon whisky, Canadian whisky; White spirits (gin, rum, tequila, vodka); Brandy; Cognac; Cocktail |
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Goals of the revenue manager |
-maximize room revenue at the hotel; -allocate the right type of room to the right guest; -increase profitability |
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Extended Stay |
focus on attracting hotel guests for extended periods of time. These hotels quote weekly rates |
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Characteristics of hotel industry |
-24/7 - shift work - intangible nature of the services - inseparable (produced and consumed) - perisahble - seasonal - labor intensive |
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Beer |
a brewed and fermented beverage made form malted barley and other starchy cereals and flavored with hops; alcohol content between 3.8 and 8% - beer is brewed form water, malt, yeast and hops |
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Lager |
clear, light bodied, refreshing beer |
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Ale |
fuller body and bitter beer |
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Stout |
dark ale with a sweet, strong, malt flavor |
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Plsner |
beer is made in the style of the famous beer brewed in Pilsner, Czech Republic |
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Types of grapes (white and red wine) |
Red wine = red grapes White wine = white grapes |
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When european coffee house was open, what was the name? |
penny universities |
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How spirit was made |
fermentation takes place by the action of yeast on sugar containing substances, such as grain or fruit. Distilled drinks are made from a fermented liquid that has been put through a distillation process |
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What types of hotels have the most number of guest rooms |
Convention |
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Steps in making wine |
1. crushing 2. fermenting 3. racking 4. maturing 5. filtering 6. botteling |
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What are the core differences between hotel industry and other industry |
one essential difference is that in hospitality we are selling intangible and perishable products |
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Convention hotel vs. Conference Hotel |
Convention- hotel with a minimum of 300 room and large meeting facilities (minimum 20,000 sq. ft.) and not a part of the Conference Center Group Conference- lodging hotels that place major focus on conference operations; hotels must meet guideline of the International Association of Conference Centers |
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What are the disadvantages of hotel restaurants |
resturant marketing visibility convenience accessibility pricing |
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What is the biggest hotel by # of rooms |
Holiday Inn |
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What is the marketing strategy for hotel restaurant |
SLIT - selected media - local marketing (local businesses) - internal marketing (hotel guest) - targeted marketing |
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What is the largest management company in terms of hotel guest rooms |
-Starwood hotels & resorts - MGM resorts - caesars entertainment -intercontinental hotels -interstate hotels |
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Top 5 countries by # of hotel guest rooms |
-US -China - Germany - Spain -United Kingdom |
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Advantages of Franchises for the Franchisee |
- Set of plans & specifications for building - national advertising - centralized reservation systemparticipate in volume purchasing discount - listing in the franchisor’s directory -low fee percentage charged by credit card companies |
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Franchisee Disadvantages |
- lack of operational power, must conform - high fees to join and on going - central reservations product 17-20% of reservations - must meet and continue to upgrade standards as set by franchiser |
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Franchisor Advantages |
- increased market share/recognition - up front fees |
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Franchisor Disadvantages |
- need to be carful in selection of franchisees - difficulty in maintaining control of standards |
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Bed and Breakfast Concept |
-home away from home - accommodation with an owner who lives on premises - maintains few room, offers breakfast - travelers who hate check-in?out , don't like high fees |
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Top 5 states in the nation with the largest hotel guest room |
-California - Flordia - Texas - Nevada - New York |
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Characteristics of general manager |
-cheif operating officer - provide owner with reasonable ROI - keep guest satisfied and returning, keep employees happy |
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What agency is doing the ranking for diamond and star ranking |
Mobil ( star), AAA (diamond) |
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Calculate ADR |
= Room Revenue/ Rooms sold |
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What is the role/responsibility for Front Office Managers |
- enhance guest services - ensure the desired percentage of each market segment is achieved - make and exceed budget forecasts - Basic Functions of FOM - review previous night’s occupancy/ADR - review arrivals/departures/VIP rooms - staffing adjustments/scheduling - look over market mix - meet with lead GSAssell room - maintain balanced guest accounts - offer services such as faxes, mail, messages...etc |
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Department with the largest # of employees |
housekeeper |
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Duties of night auditor |
- post charges - errors are investigated - closes the books on a daily basis - balances guest accounts -completes daily report |
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Contribution Margin |
the amount contributed by a menu item toward overhead expenses expenses and is the difference between the cost of preparing the item and its selling price (SP - VC) |
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Catering vs Banquet |
Catering- responsible for booking the events that take place in the hotel Banquet- the department that executes the events that are booked by the catering department |
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What is BEO (Banquet Event Order) |
a document that is pro ducted by the catering department and it highlights the specifics of the booked event |
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Economic/ Budget hotel concept |
- Represents 15% of total hotel rooms - Also considered budget hotels - Clean rooms - Reasonably sized and furnished - Usually free Internet service - Hampton Inn/Fairfield/Comfort Inn - No restaurants, but offer continental breakfast in the lobby - Became popular by focusing on selling beds, not meal or meetings |
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Hotel Chain Scale Segment |
- Luxury - Upper upscale - Upscale - Upper midscale -Midscale - Economy/ budget - Independent |
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Food Cost % Formula |
= [Portion Cost/ Menu Price] * 100% |
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Region with the highest ADR |
Urban/ Uptown/ Midtown East |
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Region with the highest RevPar |
? |
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How to classify hotel segment |
by location, types of services and market price levels |
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How the Hilton Hotel started |
Conrad Hilton bought the Mobley Hotel with an investment of $5,000; He rented rooms to oil industry prospectors and construction workers; he rented rooms in 8-hr shifts for 300% occupancy; His strategy was to borrow as much money as possible to expand as rapidly as possible; Hilton lost a lot around the time of the Great Depression but did not file bankruptcy; To reduce costs, he borrowed money against his life insurance and even formed an alliance with the National Hotels Corp.; His success was attributed to (1) hiring the best managers and letting them have total autonomy and (2) being a careful bargainer who was careful not to overextend his finances; He added the lobby bar as a convenient meeting place and leased out space for gift shops and newsstands |
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Management Contracts |
hotel management companies often form a partnership of convenience with developers and owners who generally do not have the desire or ability to operate the hotel. Management companies provides operational expertise, marketing, and sales clout. (no up-front financing or equity is involved) |