A set of instructions that command a computer system to perform useful tasks. The process through which a multinational organization integrates its worldwide activities into a single world strategy through its network of affiliates and alliances. A check made out to someone who has been signed the check over the person presenting the check. (ESOP). See also TQM. Often shortened to "rack.". Typical front office applications include reservations, rooms management, guest accounting, and general management modules. A person who sells hotel room prize packages to corporations, sweepstakes promoters, game shows, and other sponsors. A division of the city ledger dealing with travel agency accounts. An entity that, for a fee, lists (offers) hotels for sale on behalf of the hotels' owners and solicits buyers for the hotels it lists. A computer-based collection of reservation records. Accommodations, usually suites, located on the top floor(s) of the hotel. Thus, a cashier with 110 more in the cash drawer than the sales record indicates is said to be 110 "over.". Rarely, it may refer to a rate that does not vary with usage or time of use. For example, most chief engineers would use a "replace as needed" plan for the maintenance of refrigeration compressors. A situation in which the hotel has more guest reservations for rooms than it has rooms available to lodge those guests. Fixed costs are expenses that have to be paid by a company, independent of any business activity (such as occupancy). A guest room rented by a supplier/vendor usually during conventions/ conferences to provide complimentary food and/or beverages to invited guests. Short for Contribution Per Available Room. Also known as TA. A revenue management philosophy that places customer gain ahead of short-term revenue maximization in revenue management decision making. A daily report showing the number and names of guests expected to arrive. The activities required to keep a building and its contents in good repair. A formulation of a reservation request which collects the proposed date of arrival, date of departure, type and number of rooms, room rate code, and number of persons in party. To contrast the hotel to a store: A store is one dimensional. An RFP is a request from a potential client for the hotel to submit its pricing offer (proposal) to the client in writing. A hotel department that incurs costs in support of a revenue center. A legal document that specifies an amount of money a lender will lend for the purchase of a real estate asset (hotel), as well as the terms for the loan's repayment. A legal action in a court of law based upon a complaint that a person or company (hotel) failed to perform a required duty and that failure resulted in harm to the person filing the complaint. As a noun: The term used to describe a hotel that has changed its flag from one franchisor to another. Hospitality Financial Leadership - Hotel Current Assets: What You Need The term commonly used to indicate the total revenue generated by a revenue-producing department during one part of a specific time period. A contractual agreement about the number of meals to be provided at a banquet event. The specific requirements that describes who is and is not eligible for a special pricing offer. The mean amount spent per visit by each restaurant guest during a designated time period (e.g., by day part (lunch or dinner) or calendar period (daily, weekly, or monthly). The application of statistical formulas to past events for the purpose of predicting the likelihood of future events. These may be matters of politics, trade, science, technology, etc. A special group rate generally midpoint of the rack rate with a single, flat price applying to any room, suites excepted, on a best available basis (rack rates on the best available basis) ROH. Complimentary visits sponsored by the lodging property that host representatives of travel organizations, bus associations, social and nonprofit organizations, and local corporate traffic managers. Properly utilized, non-electronic distribution channels help reduce commoditization. Guest types differentiated by traveler demographics. In this article, I will be talking about of. A group of people who have had their accommodations, transportation, and related activities arranged for them. In reference to computers, to take data in for processing. A process through which organizations analyze and learn from their internal and external environments, establish strategic direction, create strategies that are intended to move the organization in that direction, and implement those strategies, all in an effort to satisfy key stakeholders. In some hotels, this position is referred to as the comptroller. The concept of economics that recognizes, when supply is held constant, an increase in demand results in an increase in selling price. An action or method used to attain a short-term objective. As this segment is paying among the highest rooms rates the hotel will be able to achieve, thence catering their needs is very important, A voucher used to support the correction of a posting error which is rectified. (Revenue Management). Document Type: SOP. Bill will be posted on the company as credit bill. What is city ledger? - Answers An arrangement whereby one party (the brand) allows another (the hotel owners) to use its logo, name, systems, and resources in exchange for a fee. The individual(s) responsible for physically checking the room status of guest rooms, as well as other tasks as assigned by the executive housekeeper. The average rooms and non-rooms revenue generated by each available guest room during a specific period of time. Group coordinator is a professional who directs, plans, and puts together various events for a particular group. Departmentalization is the process of grouping together people and jobs into work units. See also ADA. A barista (from the Italian for "bartender") is a person, usually a coffee-house employee, who prepares and serves espresso-based coffee drinks. See also proliferation. After . A reservations office which coordinates room requirements at several hotels for large conventions. +2268865506. A value system that has been widely adopted by members of an organization; often used interchangeably with the term organizational values. A bed approximately 39 inches by 75 inches (90/100x190/200). A Web site the searches for and reports information found on other Web sites. The geographic area, which is designated by a franchisor, and granted to a franchisee, in which no directly competing franchisees will be sold. The condition in which countries and communities within them throughout the world are becoming increasingly interrelated. The lowest room rate that can be charged and still generate enough revenue to pay all rooms-related occupancy costs plus the cost of any distribution channel commissions and franchise-related fees and royalties paid to create the sale. Also referred to as room-related occupancy cost, occupied room cost, or cost per occupied room (CPOR). Using technology to analyze guest (and other) related data to make better marketing decisions. (Yield Management). The representative of a franchise hotel brand who interacts directly with the franchised hotel's GMs. An employee working in the front desk area of the hotel. Those employees whose jobs are considered entry level or non- supervisory. A computerized system usually located in the hotel lobby, which allows the guest to review his or her folio and settle the account to the credit card used at check-in. The policies, procedures, and equipment used in a business to safeguard its assets and promote operational efficiency. The analysis of financial statements and operating results using ratios. Used, for example; in, "What is our sales forecast for the first quarter of next year?". This typically includes items such as medical bills and lost wages. Economic power that allows a firm or group of firms to influence the nature of business arrangements for factors such as pricing, availability of products or services, purchase terms, or length of contract. The search for best practices and an understanding about how they are achieved in efforts to determine how well a hospitality organization is doing. Ensuring your business is in balance is a daily exercise. Also called the tower concept or concierge floor. A department is a part of a larger organization with a specific responsibility. An output device of a computer system, which is usually capable of displaying both text and graphics. Instead, they rely on fees collected from merchants accepting the cards. Over-saturation of the market with different brands. Organizational assets that can be seen, touched, and/or quantified, such as plants, money, or products. In hotel accounting, the city ledger is the collection of accounts belonging to non-registered guests. An array of metal file pockets designed to hold room rack slips arranged by room number. A guest relations manager needs to work well with people, be able to handle stressful situations and maintain a positive attitude. An occupancy ratio derived by dividing net rooms revenue by the number of rooms sold. Specific policies and engineering, maintenance, and facility design activities intended to control and reduce energy usage. Communicates the values of the corporation to employees and other stakeholders. How to Transfer Charges to the City Ledger before Check-Out This information is used to manage the income and expenditure of any given hotel. A statement about expectations that have not been met. An organization whose goal is the advancement of business interests within a community or larger business region. An evolving set of shared beliefs, values, and attitudes that help shape how a social group thinks, sees, acts, and reacts to various events and situations. Equipment used to make limited amounts of electricity on-site. A special room rate for parents and children in the same room. A code which provides a unique reference to a reservation record and assures the guest that the reservation record exists. Short for Run-of-the House Rate (Corporate Clients). A person who rents a hotel guest room for an extended time period with the intent of establishing a permanent residency. (Free Independent Traveler our Foreign Independent Tour): A guest coming to the hotel as an individual and not part of a group. A decorative or descriptive plastic or metal tag attached to a hard key. Examples include fluorescent, mercury vapor, metal halide, and sodium. A cabinet usually including both refrigerated and non-refrigerated sections designed with an electronic processing unit that allows direct PMS interface. The Hotel Lger was first established in 1851 and is still one of the longest continually operating hotels in California. One foot-candle equals one lumen per square foot. Food Services offered in hotels and restaurants and other organizations whose primary purpose for existence involves generation of profits from the sale of food and beverage products. Refers to a process in which consumers voluntarily spread a message about a company, a product, or a service based on their own experience. A list of tasks that an employee working in a specific position must be able to effectively perform. A computer-based system of front office record keeping which eliminates the need for many handwritten and machine-produced forms common in non- and semi-automated systems. The procedure by which an incoming guest signifies his or her intent to stay at a property by completing and signing a registration card. 2. The individual(s) who conducts an independent verification of financial records. Participants called delegates. Short for Last Available Rate (Corporate Clients). In some hotels, the housekeeping function is considered an independent hotel division. The right to demand assets as payment for a loan. making sure that clients are satisfied with the resolution. The legal right of one party to retain or sell the property of another as security for or payment of a lawful claim of charges. An offer by the hotel to supply sleeping rooms, meeting space, food and beverages, or other services to a potential client at a stated price. The term used to describe all hotels within a given brand. American General Hospitality, Summit Hotel Management, and Winegardner and Hammons, Inc. are examples. The FTC enforces federal antitrust and consumer protection laws. One way or another you need to correct it (probably taking a hit to your P&L). is the professional development and certification subsidiary of the AH&LA. The number of people one supervisor can effectively manage. The legal contract between the hotel's owners (the franchisee) and the brand managers (the franchisor), which describes the duties and responsibilities of each in the franchise relationship. The individual on the hotel property responsible for making any management decisions required during the period he or she is MOD. The amount of laundry in use, in process, and in storage. Daily system updates enable file reorganization, system maintenance, and report production, and provide an end-of-day time frame. It also shows facilities and services used by guest his stay in a hotel. An arrangement in which both parties to a contract agree to end the contract early as a result of one party paying the other an agreed-upon financial compensation. An input/output device of a computer system composed of a keyboard and a display screen or printer. The guest ledger is a form of a receivable. Management companies that operate hotels for owners using the management company's trade name as the hotel brand. A room status term indicating that the room is occupied, but the guest is assessed no charge for the use. All financial and non-financial rewards given to management and non-management employees in return for the work they do for the hotel. If someone buys a sweater, you credit the sale and the taxes collected and debit their form of payment. A data-processing business which enables properties to enjoy the benefits of automation without having to support in-house computer systems. Hotel divisions that are in the "chain of command" and are directly responsible for revenues (such as front office and food/beverage) or for property operations (such as housekeeping and maintenance and engineering). An employee, either in the front office or in a separate department within the rooms division, who is responsible for all aspects of reservations processing. Examples include labor costs, room supplies, and room amenities. Short for "complimentary" or "no-charge" for products or services. A specification of how each task on a job list should be performed. An element in a legal contract that indicates what one entity is willing to do and what that entity expects in return. Sending mass e-mails to people who have not indicated interest in receiving e-mails from you. Short for chief knowledge officer (CKO) An organizational position responsible for ensuring that the organization can get maximum value from its knowledge, intangible assets, and best practices. T-commerce to become the mainstay of business-to-consumer (B2C) commerce, however, anything to do with tablets is m-commerce (mobile commerce). +1-609-377-8854 +5999-842-4200, There are currently 995 Glossary Items in this directory. An imbalance that occurs when the total of cash and checks in a cash register drawer is greater than the initial bank plus net cash receipts. It can be held several days or even weeks after the hotel actually opens and is intended to market the hotel to its client base and the local community. The process of making repairs that brings a building to a good condition. An organized flow of source documents detailing each step in the processing of a transaction, The period from the end of day until the completion of the audit. A document that provides details such as guest's name, arrival date, 'rate to be paid, departure date, and other information related to-the guest's stay. Short for gross operating profit. A computerized system which automatically registers a guest and dispenses a key, based on the guest reservation and credit card information. Management companies that operate hotels for owners who have entered into an agreement to use one of a franchisor's flags as the hotel brand. A gateway or entrance to a room or space. Hotel divisions that provide technical, supportive assistance to line departments. A hotel whose guest quarters generally include a sitting room, bedroom, and kitchenette for permanent or semi permanent guests. Short for Total RevPAR. It shows total sales of of each outlets for a day in hotel. A key which opens all guestroom doors, even when they are double locked. Qualifications to perform a job that are judged reasonably necessary to safely or adequately perform all tasks within the job. the revenue and profits or who have the potential to do so. Standard city ledger 5. Used when comparing performance from the beginning of the year up through, and including, the present period. The hotel that hosts the main group of attendees during an event in which there are multiple host hotels. These firms are excellent marketers who create successful brand names and distribution channels and pursue aggressive advertising and innovative packaging. A hotel with no ownership or management affiliation with other properties. A lamp in which a filament inside the lamp's bulb is heated by electrical current to produce light. En error on a posting machine which occurs when the user enters an incorrect previous balance in the process of posting. The British equivalent of Reasonable Care (Security& Safety). Examples include labor costs, room supplies, and room amenities. A report which identifies guests who are approaching an account credit limit, typically prepared by the night auditor. The up-to-date (actual) condition (occupied, vacant, dirty, etc.) Short for Revenue Per Available Tee Time (Golf). The term used to refer to a hotel guest who vacates a guest room without paying the bill incurred for its rental and for other charges made to the room. The concept that the hospitality operation is a preferred place of employment within the community by those who have alternative employment opportunities.

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