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15 Cards in this Set

  • Front
  • Back
is an owner/manager of one or more hotels.
Value (Lodging Accommodations)
is the price paid to rent a room relative to the quality of the room and services that are received.
Full-Service Hotel
a lodging facility that offers complete food and beverage services
Limited-Service Hotel
a lodging facility that offers few, if any, food and beverage services.
Average Daily Rate (ADR)
is the average (mean) selling price of all guest rooms in a hotel, city, or country for a specific period of time.
Occupancy Rate
is the ratio of guest rooms sold (or given away) to guest rooms available for sale in a given time period. It is always expressed as a percentage.
Revenue Per Available Room (RevPar):
the average revenue generated by each guest room available during a given time period; the formula for RevPar is: occupancy percent (x) ADR. Commonly referred to as “RevPar.”
The tourism industry consists of
Hospitality: the food and beverage and lodging operations (including hotels) that feed and house travelers.
Retail (Shopping) Stores: the stores and shops that appeal to travelers.
Transportation Services: those businesses such as bus lines, airlines, rental car companies and others that help move travelers from place to place.
Destination Sites: those locations offering activities and attractions enjoyed by travelers.
typically, a big-city airport within a short driving distance of a very large population center.
Global Distribution System (GDS):
The computer system that connects traveling professionals worldwide who reserve rooms with hotels offering rooms for sale.
Tour Operators
companies or individuals that plan and market travel packages. Put together, market, and sell the packages that are recommended by travel agents.
Professional Development
the process by which hoteliers continue to improve their knowledge and skills.
Trade Show
an industry-specific event that allows suppliers to an industry to interact with, educate, and sell to individuals that are part of the industry; also called exhibition.
return on investment
General Manager (G.M.):
the traditional title used to identify 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.