hotels jargon brochure

8/3/2019 Hotels Jargon Brochure

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2/20

Administr a tive a nd Gener a l expenses

Tra dition a lly used to me a n c ommission b a sed a dvertising su c h a s TV, ra dio, posters, a ndpress (See below the line promotion)

Asso c ia tion of British Tr a vel Agents

Asso c ia tion for Conferen c es a nd Events

One of the f a stest growing se c tors of tourism, r a nging from rel a tively leisurely ac tivitiessuc h a s w a lking to mount a ineering a nd more extreme sports

Room designed for dis a bled people (n a med a fter the Ameri ca ns with Dis a bility Ac t) -ca lled Spe c ia l Needs A cc ommod a tion in the UK

Gross Oper a ting Profit less c ert a in a ddition a l expenses (there is no set list)

Net Oper a ting Profit less FF&E Reserves

Avera ge D a ily Ra te

Adjusted Gross Oper a ting Profit

Ara bia n Hotel Investment Conferen c e held in Dub a i in April/Ma y

America n Hotel & Lodging Asso c ia tion (formerly the Ameri ca n Hotel & Motel

Asso c ia tion)

America n Hotel & Motel Asso c ia tion (now ca lled the Ameri ca n Hotel & LodgingIndustry Asso c ia tion)

A blo c k booking of hotel rooms or a irline se a ts by a n oper a tor or a gent who ca n thenca ll on th a t a lloca tion without h a ving to keep re- c he c king a va ila bility with the hotel ora irline, until a spe c ified rele a se d a te

The M a drid-b a sed Glob a l Distribution System founded by Air Fr a nc e, Iberi a SASa nd Lufth a ns a

See Full bo a rd

America n Pla n (see Full bo a rd)

A m a rketing n a me in the US, Mexi c o a nd J a pa n for the G a lileo Intern a tion a l Globa lDistribution System

Avera ge Room R a te

See Ara bia n Tra vel Ma rket

Avera ge Room R a te

Tota l food revenue divided by number of c overs

Gross Rooms Revenue divided by the tot a l number of rooms o cc upied. Compliment a ryrooms a re ex c luded from rooms o cc upied

A&G

Above the line promotion

ABTA

ACE

Activity Holidays

ADA Room

Adjusted Gross Operating Profit

Adjusted Net Operating Profit

ADR

AGOP

AHIC

AH&LA

AHMA

Allocation

Amadeus

American Plan

AP

Apollo

ARR

ATM

Average Daily Rate

Average Food Check

Average Room Rate

A

Hotel industry j a rgon buster


3/20

Bed & Brea kfa st - Either (1) a priva te house letting rooms with bre a kfa st being the onlyme a l served or (2) a hotel r a te whi c h in c ludes bre a kfa st

Area of a hotel sep a ra ted from the guest a rea s, c ont a ining a dministr a tive offi c es,kitc hens, pl a nt, et c (see Front of House)

British Assoc ia tion of Hospit a lity Acc ount a nts (formerly the British Asso c ia tion of HotelAcc ount a nts)

Best Av a ila ble Ra te

Fee p a ya ble to a hotel oper a tor whi c h is usu a lly ba sed on a per c ent a ge of revenue

Often the number of guest rooms in a hotel, but this differs from Keys be ca use a suitewith a bedroom a nd sitting room is c ounted a s one key but two b a ys

Tra dition a lly used to me a n print b a sed promotion a l ac tivities for whi c h c ommission isnot p a id su c h a s bro c hures a nd dire c t m a il. Below the line promotions gener a lly seek tobuild a rela tionship with the c onsumer (See a bove the line promotion)

Proc ess of c omp a ring perform a nc e of hotels a ga inst other hotels in the s a me m a rket

British Hospit a lity Assoc ia tion (the tr a de a sso c ia tion for the UK hotel industry)

Business In Sport a nd Leisure ( a UK tra de a sso c ia tion)

Ba se (or B a sic ) Ma na gement Fee (see B a se Fee)

A term used by often sm a ller a nd usu a lly luxury independent hotels to differenti a tethemselves from l a rger br a nded hotels, but whi c h h a s been a pplied by some c ha ins totheir design-led lifestyle br a nds, e.g. St a rwoods W Hotels

Ba sis point - one hundredths of one per c ent

British Resorts Asso c ia tion

Kitc hen term me a ning the te a m of c hefs a nd porters

Ba la nc ed s c ore ca rd - Ka pla n a nd Nortons c on c ept for me a suring perform a nc e b a sed onfour different perspe c tives

British Tourist Authority - on 1 April 2003 this merged with the English Tourism Coun c ilto form VisitBrit a in

B&B

Back of the house

BAHA

BAR

Base Fee or Basic Fee

Bays

Below the line promotion

Benchmarking

BHA

BISL

BMF

Boutique

bp

BRA

Brigade

BSC

BTA

B



4/20

Conferen c e a nd B a nqueting

Conferen c e a nd In c entive bookings

CB Ric ha rd Ellis

Chef de P a rtie - Se c tion c hef

Choi c e Hotels Europe, now The Re a l Hotel Comp a ny pl c

Resta ur a nt senior w a iter

Ca na dia n Imperi a l Ba nk of Commer c e

See Destin a tion Club, Equity Destin a tion Club, Residen c e Club,Priva te Residen c e Club a nd Vaca tion Club

Nea rby hotels oper a ted by the s a me c omp a ny sh a ring c osts, for ex a mple sh a ring st a ff(a lso ca lled Complexing)

Corpor a te Meetings a nd In c entives

Tra inee c hef

Compliment a ry sta y

Nea rby hotels oper a ted by the s a me c omp a ny sh a ring c osts, for ex a mple sh a ring st a ff(a lso ca lled Clustering)

Individua lly owned a nd jointly m a na ged a pa rtments whi c h a re rented out

Disc ounted pri c es quoted to wholes a lers, tour oper a tors a nd tr a vel a gents, distributedin c onfiden c e a nd not published for publi c use

A c omp a ny or individu a l th a t brings together different groups of people on a ir c ha rtersor a t group r a tes on s c heduled flights to in c rea se s a les, e a rn override c ommissions orredu c e the possibility of tour ca nc ella tions

The fin a nc e dire c tor of a hotel

Usua lly a publi c ly funded org a nisa tion in the US c ha rged with the promotion of a townor region for c onferen c es, meetings a nd exhibitions

Slightly derog a tory des c ription of the a ppro ac h of some hotel c ha ins to ac hieveuniformity ac ross a ll their hotels so th a t they a ll look a like

Advertising funded by two or more destin a tions a nd/or suppliers

Ma rketing progr a ms involving two or more p a rtic ipa ting c omp a nies, institutionsor org a nisa tions.

An independent firm or org a nisa tion whi c h works with a tourism offi c e by providing ca shor in-kind c ontributions to exp a nd the m a rketing imp ac t of the tourism offi c es progr a m.

C&B

C&I

CBRE

CDP

CHE

Chef de rang

CIBC

Club

Clustering

CMI

Commis

Comp

Complexing

Condo or Condominium

Confidential Tariff

Consolidator

Controller

Convention Bureau

Cookie cutter

Cooperative Advertising

Cooperative Marketing

Cooperative Partner

C



5/20

A redu c ed pri c e for guests st a ying on business, sometimes through spe c ia llynegoti a ted terms

Cost of s a le

Eac h guest in food a nd bever a ge

Condition Pre c edent

Combined Qu a lity Index - System of me a suring st a nd a rds of qu a lity a nd c ompli a nc ein br a nds

Customer Rel a tionship M a na gement

Centr a l Reserva tions Offi c e - A s a les c entre whi c h h a ndles bookings on beh a lf of itshotel group

Either (1) Centr a l Reserva tions System (free phone number a nd website m a int a ined by ahotel group to t a ke reserv a tions for a number of properties) or (2) ComputerisedReserva tions System (the c omputer network through whi c h the produ c ts a nd servi c es oftra vel c omp a nies a re booked)

Close to Arriv a l

Convention a nd Visitors Bure a u (see Convention Bure a u)

Visitors who a rrive a nd le a ve the s a me d a y, irrespe c tive of why they a re tr a velling

Dinner, Bed a nd Bre a kfa st

Dep a rtment for Culture, Medi a a nd Sport the UK government dep a rtment responsiblefor tourism

Assista nt se c tion c hef

See H a lf bo a rd

Expenses th a t a re spe c ific to one of the three Oper a ted Dep a rtments

A c lub where individu a ls ca n buy membership whi c h provides us a ge of multipleproperties in multiple lo ca tions owned by the c lub

Comp a ny working in a spe c ific destin a tion to h a ndle a ll bookings a nd a rra ngements fortours or c onferen c es. Tour oper a tors or c onferen c e pl a nners a re likely to use theservic es of a DMC be ca use of their spe c ia list loca l knowledge

Ma rketing a c ity, st a te, c ountry, a rea or region to c onsumers a nd tr a de

Corporate Rate

COS

Cover

CP

CQI

CRM

CRO

CRS

CTA

CVB

Day visitors

DBB

DCMS

Demi CDP

Demi pension

Departmental Expenses

Destination Club

Destination ManagementCompany

Destination Marketing

D



6/20

Comp a ny or c onsorti a (often a publi c /priva te p a rtnership or a Convention Bure a u in theUS) responsible for the promotion of a spe c ific a rea or town. DMOs a re be c ominginc rea singly popul a r in the UK

The dep a rtment within a hotel oper a ting c omp a ny whi c h is responsible for ac quiringnew hotels by ownership, le a se, m a na gement c ontr ac t or fr a nc hising

Destin a tion M a na gement Comp a ny

Destin a tion M a rketing Org a nisa tion

Do Not Disburb

UK residents tr a velling within the c ountry itself

Direc tor of S a les

Debt Servi c e Cover a ge R a tio

Debt Servi c e Reserve A cc ount

Europe, Afri ca , Middle E a st (sometimes a lso EMEA)

Ea rnings Before Interest, T a x, Depre c ia tion a nd Amortis a tion (now referred to in theUniform System a s Net Oper a ting Profit)

Ea rnings Before Interest, T a x, Depre c ia tion, Amortis a tion a nd Rent

Defined by The Intern a tion a l Ec otourism So c iety a s responsible tr a vel to n a tur a l a rea sth a t c onserves the environment a nd sust a ins the well-being of lo ca l people

Europe, Middle E a st a nd Afri ca (sometimes a lso EAME)

Europe a n Pla n (see Room Only)

A Destin a tion Club where the members h a ve a n equity interest in the c lub a nd theunderlying property investments owned by the c lub

Ec onomi c s Rese a rc h Asso c ia tes - a US c onsulting firm

Expec ted Time of Arriv a l

English Tourism Coun c il - on 1 April 2003 this merged with the British Tourist Authorityto form VisitBrit a in

See Room Only

Exec utive Vic e President

A m a na gement a nd a dministr a tive role, often sep a ra ted from the pr ac tica l c ooking

Destination MarketingOrganisation

Development

DMC

DMO

DND

Domestic Tourism

DOS

DSCR

DSRA

EAME

EBITDA

EBITDAR

Ecotourism

EMEA

EP

Equity Destination Club

ERA

ETA

ETC

European Plan

EVP

Executive chef


E


7/20

Food a nd Bever a ge

Fa milia risa tion tour

Free or redu c ed r a te trip, usu a lly for tour oper a tors, tr a vel a gents or journ a lists, so theyca n experien c e a destin a tion or tourism produ c t first h a nd a nd then promote it

Either (1) Furniture, Furnishings a nd Equipment or (2) Fixtures, Fittings a nd Equipmenteg. beds, t a bles, c ha irs (but norm a lly exc luding Oper a ting Equipment) i.e. items th a t a renorm a lly (a lthough not ex c lusively) acc ounted for a s ca pit a l expenditure

A pot of money (either in a ring-fen c ed b a nk acc ount or just a book entry) to be usedto fund repl ac ements a nd a dditions to FF&E. This is norm a lly funded by p a ying in afixed per c ent a ge of revenue e ac h month

Free a nd Independent Tr a vel(ler) - Individua l tra vel not in a group or through a tour oper a tor

Under the Uniform System, these a re rent, property t a xes a nd insur a nc e

Front of House

A guests hotel acc ount whi c h is kept by re c eption a nd whi c h indi ca tes a ll c ha rges a ndpa yments

Cost of food s a les divided by food revenue

A generi c term for different forms of sh a red ownership models for residenti a l a ndCondo properties

A loya lty sc heme or frequent tr a veller progr a mme (see Loy a lty progr a mme)

Fully repa iring a nd insuring le a se - the ten a nt is responsible for p a ying for a ll repa irsa nd insur a nc e, even if the l a ndlord ac tu a lly ca rries out the work a nd c ha rges the c ost tothe ten a nt via a servic e c ha rge

Rec eption, c on c ierge a nd porters (see B ac k of the House)

Rec eption

Servic ing c onsumers a nd tr a de who request inform a tion a s a result of a dvertising orpromotion a l progr a ms. Servic e often in c ludes a toll-free number, s a les st a ff a nddistribution of m a teria ls

Hotel r a te whi c h in c ludes three me a ls a da y (a lso known a s Full pension or Ameri ca nPla n (AP) in the US)

See Full bo a rd

See Limited servi c e

F&B

Fam tour

Familiarisation tour

FF&E

FF&E Reserve

FIT

Fixed Charges

FOH

Folio

Food Cost Percentage

Fractional

Frequency programme

FRI lease

Front of House

Front Office

Fulfilment

Full board

Full pension

Full service

F



8/20

Glob a l Distribution System owned by Tr a velport In c ., p a rt of the Bl ac kstone Group a nda lso owners of the Worldsp a n GDS. G a lileo Intern a tion a l GDS is known a s Apollo in theUS, Mexic o a nd J a pa n.

Glob a l Distribution System

The network of ele c troni c reserv a tions systems by whi c h tr a vel a gents a ll over the worldma ke bookings with a irlines a nd hotels. The four le a ding GDS systems a re Am a deus, G a lileoIntern a tion a l, Sa bre a nd Worldsp a n, whi c h together acc ount for 98% of the m a rket

Gener a l Ma na ger

Gross Oper a ting Profit

Gross Oper a ting Profit per Av a ila ble Room

Gross Oper a ting Revenue

Tota l Revenue less oper a ting expenses (in c luding Dep a rtment a l Expenses a ndUndistributed Oper a ting Expenses)

Tota l Revenue or, in some ca ses, Tot a l Revenue only from Oper a ted Dep a rtments

See Rooms Revenue

Comp a ny m a king a ll a rra ngements for in c oming groups or tr a vellers from overse a s,

from the moment they a rrive in the UK (or other destin a tion) to the moment they le a vethe c ountry ( a lso ca lled Ground oper a tor)

Negoti a ted hotel r a te for a c onvention, tr a de show, meeting, tour or in c entive group

Gross Rooms Revenue

Guest Servi c es

Group servi c es a nd benefits (in c luding c entr a l m a rketing, s a les, business developmentsystems a nd a rea offic e supervision) provided by a hotel c ha in to hotel owners

Either (1) Guest Servi c e Agent or (2) Gener a l Sa les Agent

Guest Servi c e M a na ger

Guest S a tisfac tion Tr ac king System - System of feedb ac k from guests who fill outc omment ca rds

Galileo International

GDS

Global Distribution Systems

GM

GOP

GOPPAR or GOPAR

GOR

Gross Operating Profit

Gross Operating Revenue

Gross Rooms Revenue

Ground handler or

Ground operator

Group rate

GRR

GS

GS&B

GSA

GSM

GSTS

G



9/20

Hotel r a te whi c h in c ludes bed, bre a kfa st a nd either lun c h or dinner ( a lso known a sDemi-pension or H a lf-pension or Modified Ameri ca n Pla n (MAP) in the US)

See H a lf bo a rd

Hotel & C a tering Intern a tion a l Ma na gement Asso c ia tion

Hospit a lity Fina nc e & Te c hnology Profession a ls (formerly the Intern a tion a l Assoc ia tionof Hospit a lity Acc ount a nts), the intern a tion a l so c iety for fin a nc ia l a nd te c hnologyprofession a ls in the hospit a lity industry

Hilton Hotels Corpor a tion

Hiltons loya lty progr a mme

Hospit a lity Industry Te c hnology Exposition a nd Conferen c e

Hotel Owners a nd Fra nc hisees Tr a ns a tla ntic a nd Europe a n Lea gue

Sta rwood Hotels & Resorts Worldwide, In c . (a fter its New York Sto c k Exc ha ngetic ker symbol)

The o cc up a nc y of a hotel a t a ny given time of d a y

Usua lly the number two to the Gener a l Ma na ger, often responsible for a n individu a lhotel where the Gener a l Ma na ger c overs more th a n one

Hum a n Resour c es

The c omp a ny th a t owns the hotels. c om website

Hea ting Ventil a tion a nd Air Conditioning

Intern a tion a l c onsulting firm HVS Intern a tion a l

InterAc tiveCorp, the US c omp a ny whi c h owns v a rious online tr a vel-rela ted businesses

Intern a tion a l Assoc ia tion of Convention a nd Visitors Bure a us

Inc ome Before Fixed Ch a rges. Under the Uniform System this is Gross Oper a ting Profitless m a na gement fees

InterContinent a l Hotels Group

Intern a tion a l Hotel Investment Forum - c onferen c e held in Berlin e ac h M a rc h

Inc entive M a na gement Fee (see In c entive Fee)

Half board

Half pension

HCIMA

HFTP

HHC

HHonors

HITEC

HOFTEL

HOT

House Count

House Manager

HR

HRN

HVAC

HVS

IAC

IACVB

IBFC

IHG

IHIF

IMF

H

I



10/20

Fee p a ya ble to a hotel oper a tor whi c h is usu a lly ba sed on a per c ent a ge of profit

On c e in a life time trip, usu a lly offered to either stimul a te s a les st a ff to sell more or a sa rew a rd for in c rea sed s a les ac tivity

A resort whi c h in c ludes rooms, me a ls a nd f ac ilities in the pri c e

The term used by previous editions of the Uniform System to signify GrossOper a ting Profit

Refers to visitors from other c ountries c oming to the UK ( a lso known a s Inc oming Tourism)

Inc oming tour oper a tors essenti a lly offer the s a me servi c es a s Ground h a ndlersa lthough they a re more likely to offer their own progr a mmes a nd not just re ac t toc lients dem a nds

A hotel whi c h is not a ffilia ted to a c ha in or group

Insignia Ric ha rd Ellis (now known a s CB Ric ha rd Ellis)

Intern a tion a l Hotel a nd Rest a ura nt Asso c ia tion

Intern a l Ra te of Return - A formul a for dis c ounting ca sh flow a nd ev a lua ting thefe a sibility of a proje c t a ga inst acc epted r a tes of return on the ca pit a l employed

Intern a tion a l Tourism Bourse - tr a vel industry tr a de f a ir held in Berlin e ac h M a rc h

Institute of Tr a vel a nd Tourism

A c omp a ny whi c h c ondu c ts guest s a tisfac tion surveys

Jones La ng La Sa lle

Jones La ng La Sa lle Hotels

The number of guest rooms in a hotel (me a sured by the number of keys). See a lso Ba ys

Key Perform a nc e Indica tor - Ta rgeted me a sure to est a blish perform a nc e a ga inst obje c tives

Incentive Fee

Incentive trip

Inclusive resort

Income after UndistributedOperating Expenses

Incoming Tourism orInbound Tourism

Incoming tour operator

Independent hotel

IRE

IRHA

IRR

ITB

ITT

JD Power

JLL or JLLS

JLLH

Keys

KPI

J

K



11/20

Like for like (see a lso LFL)

Tota l [or Dep a rtment a l] pa yroll a nd rel a ted expenses divided by Tot a l [orDep a rtment a l] Revenue

A room with a ba lc ony or p a tio overlooking w a ter or a ga rden

Cha rges for servi c es su c h a s rest a ura nt or telephone whi c h h a ve not a ppe a red on aguests bill a t c he c kout

La te a rriva l of a guest who h a s a lrea dy reserved a room

Tra velling for ple a sure not business, in c luding those who tr a vel in order to visitfriends a nd rel a tives

Number of nights spent in one destin a tion

Like for like

A fee for use of a br a nd n a me ( a lso known a s Roya lty Fee)

Hotels whi c h offer few a menities, eg. no rest a ura nt

A progr a mme rew a rding frequent tr a vellers with points for free st a ys or other gifts

La st Room Av a ila bility

Loa n to Cost

Loa n to V a lue

Ma na gement Agreement

Millennium & Copthorne

Meetings a nd In c entive Tr a vel

Ma teria l Adverse Ch a nge

Ma na gement a greement between the hotels owner a nd the hotel oper a tor for theoper a tion of the hotel by the oper a tor on the owners beh a lf (a lso ca lled a ma na gementc ontr ac t or a n oper a ting a greement)

Modified Ameri ca n Pla n (see H a lf bo a rd)

Meetings, Conventions a nd In c entives

The Le Mridien c omputerised reserv a tions system

L4L

Labour Cost Percentage

Lanai

Late charge

Late show

Leisure visitor

Length of stay

LFL

License Fee

Limited service

Loyalty programme

LRA

LTC

LTV

MA

M&C

M&IT

MAC

Management Agreement orManagement contract

MAP

MCI

MeriRes

L

M



12/20

Meetings Industry Asso c ia tion

Meetings In c entives Conventions a nd Exhibitions

Property M a na gement System softw a re provider ( a lso known a s MICROS-Fidelio) (seea lso OPERA Enterprise Solution)

Ma nd a tory Liquid Assets

Minimum Length of St a y

See H a lf bo a rd

Le Mridiens former loy a lty progr a mme prior to its ac quisition by St a rwood.

Meetings Profession a ls Intern a tion a l - the l a rgest a ssoc ia tion for the meetings profession

Ma rylebone W a rwic k Ba lfour owner of M a lma ison a nd Hotel du Vin c ha ins

Spotter

Non disturb a nc e a greement between the hotels owner, oper a tor a nd the ownersfina nc ier (ie a ba nk) whereby the b a nk a grees th a t if the owner def a ults under its lo a na nd the b a nk fore c loses, the b a nk will keep the m a na gement c ontr ac t in pl ac e. Theba nk will usu a lly ha ve the right to step in a nd c ure a n owners def a ult under thema na gement c ontr ac t

The term used in the Uniform System for EBITDA.

A wholes a le r a te to be m a rked up by the Wholes a ler before being offered to theultim a te c ustomer a t a higher r a te

A guest with a reserv a tion who f a ils to a rrive

Net Oper a ting In c ome

Net Oper a ting Profit

Net Present V a lue - Dis c ounted ca sh flow c on c ept for me a suring proje c t profit a bility

No show

Na tion a l Tour Asso c ia tion

Na tion a l Tourist Bo a rd

MIA

MICE

MICROS

MLA

MLOS

Modified American Plan

Moments

MPI

MWB

Mystery Guest

NDA

Net Operating Income orNet Operating Profit

Net Rate

No show

NOI

NOP

NPV

N/S

NTA

NTB

N



13/20

Occ up a nc y

The per c ent a ge of the tot a l number of rooms whi c h a re o cc upied by guests ona ny given d a te

Either (1) Oper a ting Expenses (eg. s a la ries, c ost of buying food, et c ) or (2) Oper a tingEquipment (linen, c hin a , gl a ssw a re, et c )

OPERA Enterprise Solution

Off M a rket

Out Of Order

An integr a l suite of Property M a na gement System softw a re produ c ts from MICROS

Three ca tegories of c la ssifica tions of Gross Oper a ting Revenue under the UniformSystem, being: Rooms, F&B a nd Other Oper a ted Dep a rtments. The l a st ca tegoryinc ludes revenue from p a rking, sp a s, golf c ourse et c .

See M a na gement Agreement

Equipment used in oper a tions, su c h a s linen, c hin a , gl a ssw a re, silver, uniforms, trolleysa nd a re often (but not ex c lusively) items th a t a re acc ounted for a s a c urrent expensesra ther th a n ca pit a l expenditure ( c omp a re FF&E)

Budget

The hotel m a na gement c omp a ny whi c h m a na ges a hotel under a ma na gement a greement.

The de a dline by whi c h p a yment of the deposit must be m a de or the room will nolonger be held

Extra c ommission p a id by a supplier a s a sa les inc entive ( a lso known a s Overs a le)

Extra c ommission p a id by a supplier a s a sa les inc entive ( a lso known a s Override)

The owner of a hotel business whi c h is c ounterp a rty to the Oper a tor under ama na gement c ontr ac t

A tr a vel produ c t (often sold by tr a vel a gents or dire c t off the p a ge) with a n in c lusivepric e c overing the different elements of the trip e.g. tr a nsport to the destin a tion,acc ommod a tion, ca tering a nd perh a ps some sightseeing ac tivities

An a mount in c luded on a guest bill for a n expense whi c h the hotel h a s p a id for theguest a nd p a sses on, for ex a mple t a xis or the a tre ti c kets

A ca stle or simil a r building whi c h h a s been c onverted into first c la ss or luxuryacc ommod a tion by a government (popul a r in Sp a in a nd Puerto Ri c o)

Occ

Occupancy

OE

OES

OFFMKT

OOO

OPERA Enterprise Solution

Operated Departments

Operating agreement

Operating Equipment

Operating Plan

Operator

Option Date

Override

Oversale

Owner

Package Tour

Paid out

Parador

O

P



14/20

Pa ssengers

Profit Before Interest a nd Ta x

Profession a l Convention M a na gement Asso c ia tion

Credit/debit ca rd p a yment termin a ls (supposedly from the phr a se Pro c ess D a ta Quic kly)

A me c ha nism whi c h a llows a hotel owner to termin a te a ma na gement c ontr ac t dueto poor perform a nc e by the oper a tor, often by c omp a rison with simil a r hotels in thesa me m a rket

Property Improvement Pl a n

The acc ount a nc y firm formerly known a s Pa nnell Kerr Forster

Property M a na gement System

Property Oper a tion a nd M a inten a nc e

Point of S a le

A c onfirmed reserv a tion

Priva te Residen c e Club

InterContinent a l Hotels Groups loy a lty progr a mme

See Residen c e Club

A do c ument setting out the refurbishment required to a property before it will meet thesta nd a rds of a pa rtic ula r br a nd

The m a in c omputer system used by a hotel to re c ord guest inform a tion et c th a tinc ludes the reserv a tion a nd billing system

A suppliers or wholes a lers gu a ra ntee to p a y a n a gent c ommission a nd a c lient a fullrefund on prep a id c onfirmed bookings, reg a rdless of ca nc ella tions

Pa yroll Ta xes a nd Employee Benefits

Qu a lity Assura nc e

Queens Mo a t Houses

Pax

PBIT

PCMA

PDQ

Performance test

PIP

PKF

PMS

POM

POS

Positive space

PRC

Priority Club

Private Residence Club

Property Improvement Plan

Property Management System

Protected

PTEB

QA

QMH


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Repa irs a nd M a inten a nc e

The st a nd a rd published r a te for a room in a hotel or resort before a ny dis c ounts a rea pplied ( a lso known a s the W a lk-in ra te)

A restri c tion in a hotel c ontr ac t preventing a hotel c ha in from owning, oper a ting a nd/orfra nc hising a nother hotel within a spe c ified dist a nc e ( a lso known a s Restric ted Are a orProte c ted Are a )

Formerly Resort Condominiums Intern a tion a l - a c omp a ny owned by Cend a ntCorpor a tion whi c h runs a n ex c ha nge of timesh a re a nd v aca tion ownership c lub units

Rea l Esta te Investment Trust

Revenue from non-Oper a ted Dep a rtments, in c luding sp ac e rent a l, c ommissions a ndinterest in c ome

A request by c orpor a te c ustomers a nd tr a vel a gen c ies for hotels to submit proposedpric ing for the next ye a r

Reserva tion

A c lub where individu a ls ca n buy membership whi c h entitles them to st a y for a definedperiod per a nnum in a room or a pa rtment in a hotel or servi c ed a pa rtment blo c k

See Ra dius restri c tion

Rooms Revenue Per Av a ila ble Room - Gross Rooms Revenue divided by the number ofrooms (whi c h a lso equ a ls the Aver a ge D a ily Ra te multiplied by the O cc up a nc y) - aben c hm a rk for me a suring the perform a nc e of hotels. Note th a t a lthough the UniformSystem stipul a tes using Gross Rooms Revenue, some st a tistic s use Gross Revenue (seeTot a l RevPAR)

Request for Propos a l

Return On C a pit a l Employed

Run of the House - On a rriva l, guest will get a ny room a va ila ble

A room being o cc upied by one or more guests for one night

Hotel r a te th a t only p a ys for the room a nd not me a ls (known a s Europe a n Pla n (EP)in the US)

Revenue only from Rooms (i.e. ex c luding revenue from F&B a nd Other Oper a tedDep a rtments)

A fee for use of a br a nd n a me ( a lso known a s Lic ense Fee)

Rent, Property T a xes a nd Insur a nc e

Region a l Sa les Offic e

R&M

Rack Rate

Radius restriction

RCI

REIT

Rental and Other Income

Request for Proposal

Res

Residence Club

Restricted Area

RevPAR

RFP

ROCE

ROH

Room Night

Room Only

Rooms Revenue

Royalty Fee

RPTI

RSO

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Sa les a nd M a rketing

Glob a l Distribution System oper a ted by Tex a s-b a sed S a bre Holdings Corp., whi c h ownsTra veloc ity.c om a nd l a stminute. c om whi c h owns Tr a veloc ity.c om

Genev a ba sed Glob a l Distribution System owned by SITA

Soc iety of In c entive a nd Tr a vel Exec utives

Soc ia l, Milita ry, Edu ca tion a l, Religious, Fra tern a l - refers to a segment of themeetings m a rket

List of items (usu a lly minor defe c ts) th a t need to be c ompleted a fter the hotel h a sopened ( a lso ca lled a pun c h list)

The c ommen c ement of p a rtia l oper a tions (to a llow teething problems to be ironed out)before the offi c ia l opening

Room designed for dis a bled people (in the US often known a s a n ADA Room, a fter theAmerica ns with Dis a bility Ac t)

Sta rwood Preferred Guest - The loy a lty progr a mme run by St a rwood Hotels & Resorts

A profession a l hired by the hotel to pose a s a guest to a ssess a nd ev a lua te thehotel st a ff a nd servi c es

Single Purpose Vehi c le

Spe c ia l Ra te Pla n

The St a rwood Hotels & Resorts c omputerised reserv a tions system

Sta rwood Hotels a nd Resorts, owner of the Sher a ton, Westin a nd Le Meridien br a nds,a mongst others. Not to be c onfused with St a rwood C a pit a l, with whi c h it is nolonger a ffilia ted.

A priva te re a l est a te investment c omp a ny th a t previously owned St a rwood Hotels a ndResorts prior to its flot a tion.

A guest extending his/her st a y beyond the origin a l dep a rture d a te

Acc ording to the World Tourism Org a nisa tion, this is "envis a ged a s lea ding to m a na gementof a ll resour c es in su c h a wa y th a t e c onomi c , so c ia l a nd a estheti c needs ca n be fulfilledwith m a inta ining c ultur a l integrity, essenti a l ec ologi ca l pro c esses, biologi ca l diversity,a nd life support systems."

Senior Vic e President

S&M

Sabre

Sahara

SITE

SMERF

Snagging List

Soft Opening

Special Needs Accommodation

SPG

Spotter

SPV

SRP

StarLink

Starwood

Starwood Capital

Stayover

Sustainable tourism

SVP

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Tra vel Agent

Tra vel Agents Commission

See Te c hni ca l Servic es

Design a nd a rc hite c tur a l servic es provided by a hotel c ha in to the developer of a hotel(a lso known a s Tec hni ca l Assista nc e)

Tourist Inform a tion Centre

A form of Fr ac tion a l where the owner is entitled to a defined limited period of us a ge(e.g. two weeks per a nnum) of one residenti a l property

Tota l Revenue per Av a ila ble Room. This is distin c t from RevPAR whi c h is b a sed only onRooms Revenue

Tota l Revenue from a ll sourc es in c luding Rooms, F&B, Other Oper a ted Dep a rtments a ndRent a l a nd Other In c ome

A c omp a ny th a t negoti a tes dis c ount r a tes, p ac ka ges tr a vel produ c ts, sub c ontr ac ts theirperform a nc e, prints bro c hures a nd m a rkets these tr a vel produ c ts through tr a vel a gentsor dire c tly to the gener a l public

A sm a ll, person a lly run town or c ity c entre hotel whi c h a ffords a high degree of priv ac ya nd c on c entr a tes on luxuriously furnished bedrooms a nd suites with high qu a lity room

servic e, r a ther th a n publi c rooms or form a l dining rooms usu a lly a sso c ia ted with hotels.They a re usu a lly in a rea s well served by rest a ur a nts

Tra de shows differ from c onventions in th a t they h a ve exhibit sp ac e th a t providesprodu c t exhibition a nd s a les opportunities for suppliers, a s well a s inform a tionga thering a nd buying opportunities for c ustomers

Consulting firm TRI Hospit a lity Consulting (st a nding for Tourism & Rel a ted Industries)

Tec hni ca l Servic es Agreement

Proc ess by whi c h a meeting room undergoes a c omplete c ha ngeover from one fun c tionto the next

TA

TAC

Technical Assistance

Technical Services

TIC

Timeshare

Total RevPAR

Total Revenue

Tour Operator

Townhouse

Trade Show

TRI

TSA

Turn

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Uniform Fra nc hise Offering Cir c ula r - a do c ument c ont a ining inform a tion whi c h theFeder a l Tra de Commission requires fr a nc hisors to provide to US fr a nc hisees before afra nc hise a greement is signed

Expenses a ttribut a ble to the whole hotel a nd not a spe c ific dep a rtment. Under theUniform System these a re split into the following four ca tegories: Administr a tion a ndGener a l, Sa les & Ma rketing, Property Oper a tion a nd M a inten a nc e & Utilities

The book Uniform System of A cc ounts for the Lodging Industry, whi c h sets out a nintern a tion a lly a greed system for c ompiling hotel acc ounts, c urrently in its 10th Edition(2006), published by the AH&LA, the Hotel Asso c ia tion of New York City a nd HFTP

Where a guest is given a higher pri c ed room a t no extr a c ha rge a bove the origin a lc onfirmed r a te

Where a guest is given a higher pri c ed room with a c orresponding r a te in c rea sea greed by the guest

US term for Destin a tion Clubs a nd Residen c e Clubs

Visitors a nd Convention Bure a u

Visiting Friends a nd Rel a tives

Method of t a king hotel reserv a tions by telephone ( a nd sometimes a ll otherreserv a tions not t a ken ele c troni ca lly)

Vic e President

Vaca nt Re a dy

UFOC

Undistributed OperatingExpenses

Uniform System

Upgrade

Upsell

Vacation Club orVacation Ownership

VCB

VFR

Voice

VP

VR

U


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Hotel guest who a rrives with no reserv a tion

See Rac k Ra te

A c omp a ny th a t doesnt sell to the publi c but through tr a vel a gents a nd p a rtic ula rlytour a nd c oac h oper a tors. They gener a lly rely on low m a rgin, m a ss m a rket produ c ts

Glob a l Distribution System whi c h w a s origin a lly owned by Delt a , Northwest Airlinesa nd Ameri ca n Airlines a nd owned by Tr a velport In c . p a rt of the Bl ac kstone Group a nda lso owner of the G a lileo Intern a tion a l GDS. ca pit a lists Citigroup a nd Te ac hersMerc ha nt B a nk in M a rc h 2003

World Tr a vel Ma rket

World Tourism Org a nisa tion - a n a gen c y of the United N a tions whi c h serves a s a glob a l forum for tourism poli c y issues

World Tr a vel & Tourism Coun c il

A pr ac tise pioneered by a irlines a nd now used by hotels to m a ximise revenue byra ising or lowering pri c es acc ording to dem a nd

Yea r On Ye a r

Walk In

Walk-in rate

Wholesaler

Worldspan

WTM

WTO

WTTC

Yield management

YOY

W

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20/20

CMS is the a llia n c e of m a jor independent Europe a n la w firms providing c lients with a full ra nge of leg a l a nd t a x servic es b a sed on a thorough underst a ndingof their business.

CMS member firms: CMS Adonnino As c oli & Ca va sola Sca moni, CMS Albi a na & Surez de Lezo, CMS Bure a u Fra nc is Lefebvre, CMS C a meron M c Kenn a LLP,CMS DeBac ker, CMS Derks St a r Busm a nn, CMS von Erl ac h Henri c i, CMS Ha sc he Sigle, CMS Rei c h-Rohrwig H a inz

CMS offi c es a nd a sso c ia ted offi c es worldwide:

Berlin, Brussels, London, Madrid, Paris, Rome,Utrecht, Vienna, Zurich, Aberdeen, Amsterd a m,Antwerp, Arnhem, Beijing, Belgr a de, Br a tisla va ,

Bristol, Buc ha rest, Bud a pest, Buenos Aires,Ca sa bla nca , Chemnitz, Cologne, Dresden,

Dusseldorf, Edinburgh, Fr a nkfurt, H a mburg,Hilversum, Kyiv, Leipzig, Lyon, M a rbella , Mila n,

Montevideo, Mos c ow, Muni c h, New York, Pr a gue,Sa o P a ulo, Seville, Sh a ngh a i, Sofia , Str a sbourg,

Stuttg a rt, W a rsa w a nd Za greb.

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