HRTM 260: Study Guide
27 Cards in this Set
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Classifications of Hotels
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Location, Rate, Size
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Rack Rate
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Price of hotels with no discounts
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Three major segments of the Travel and Tourism Industry
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Hospitality (lodging)
Transportation services
Destination alternatives
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Hotel Rank
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Luxury
Upscale
Mid-Price
Economy
Budget
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Mid-Price Full-Service Hotels
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Holiday Inns, Clarion, Howard Johnson, Ramada Inn, Best Western
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Upscale Full-Service Hotels
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Hyatt, Radisson, Westin, Sheraton, Hilton, Marriott
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Luxury Full-Service Hotels
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Four Seasons, Ritz-Carlton, St. Regis
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Hotel Chain
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A group of hotels with the same brand name.
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Franchise
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An arrangement whereby one party (the brand) allows another party (the hotel's owners) to use its logo, name, systems, and resources in exchange for a fee.
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Real Estate Investment Trust (REIT)
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A public corporation that sells stock to raise money (capital) that is then used to purchase real estate, including hotels.
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Franchisor
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One who manages the brand and sells the right to use the brand name.
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Hotel Occupancy Rates
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# Guest rooms Sold/# Guest rooms Available
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Average Daily Rate (ADR)
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total rooms revenue divided by number of occupied rooms
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Full-Service Hotel
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A lodging property that offers a full range of services and amenities including recreational services, food and beverage services, a bell staff, a concierge staff, a housekeeping staff, a front desk, and maintenance.
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How Managers Plan for Quality
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Vision
Mission statement
Long-term plan
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Planning Guest Service Processes
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I . Recognize Basic Concerns
II. Determine Guests' Service Expectations
III. Establish Quality Processes
IV. Enhance Moments of Truth
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PMS
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Property Management System
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BRIC
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Brazil, Russia, India, China
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MICE
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Meeting, Incentive, Convention, Exhibitions
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Lodging Industry Challenges
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Operating
Marketing
Technological
Economic
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Operating issues
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Labor shortages
Cost containment
Increased competition
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Market Segmentation
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Efforts to focus on a highly defined (smaller) group of travelers
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Brand Proliferation
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Over-saturation of the market with different brands
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RevPar
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Occupancy % (x) ADR = RevPar
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Steps for effective training:
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Plan, Prepare, Deliver, Follow-up
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Travel and Tourism Industry
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All businesses that cater to the needs of the traveling public.
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Hospitality Industry
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Refers primarily to businesses that provide lodging/accommodations and foodservices for people when they are away from their homes.
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Hrtm 260: Notes