Hotel Management Glossary

Mobile Commerce. Refers to using mobile devices to conduct business, including buying and selling online, electronic funds transfer, business communications, and other activities associated with the buying and selling of goods and services online.

A device which reads data magnetically encoded and stored on the magnetic tape strip on the back of a credit card and transmits these data to a credit card verification service.

An external storage medium for a computer which is used much like a standard cassette tape.

A once-common front office position, responsible for distributing mail and messages to guests and answering requests for information.

An array of numbered compartments used to maintain guestroom keys and to store messages and mail being held for guests.

The activities required to keep a building and its contents in good repair.

The process of planning, organizing, staffing, directing, controlling, and evaluating human, financial, and physical resources for the purpose of achieving organizational goals.

the revenue and profits or who have the potential to do so.

An organization that operates a hotel(s) for a fee. Also some times called a "Contract Company."

An agreement between a hotel's owners and a hotel management company under which, for a fee, the management company operates the hotel. Also sometimes known as a management agreement.

short form of Modified American Plan

The difference between a product's (or service's) selling price and the cost of production.

Guest types differentiated by sales source. Typical market codes include transient and group.

Efforts to focus on a highly defined (smaller) group of travelers.

The percentage of the total market (typically in dollars spent) captured by a property.

The estimated worth of a hotel. Hotels may, of course, be purchased below, at, or above market value.

A calendar of specific activities designed to meet the hotel's sales goals.

A folio used to chart transactions on an account assigned to more than one person or guestroom, usually reserved for group accounts. A master folio collects charges not appropriately posted elsewhere.

A key which opens all guestroom doors which are not double-locked.

A written statement describing the potential hazards of; and best ways to handle, a chemical or toxic substance. An MSDS is provided by the manufacturer of the chemical or toxic substance to the buyer of the product and must be posted and made available in a place where it is easily accessible to those who will actually use the product.

A senior employee of a hotel who provides advice and counsel to less experienced staff members about matters relating to the job, organization, and profession.

A system in which an intermediary obtains rooms inventory at a wholesale rate and then acts as a merchant by selling the rooms to buyers at retail rates.

An entity that, for a fee, manages payment card acceptance and funds collection for businesses (hotels). (MSP)

Occurs when two organizations combine into one; acquisitions are the most common type of merger

Short for Meetings/Incentive/Conference/Event.

An electronic locking system which operates as individual units. Each door has its own microprocessor which contains a predetermined sequence of codes; a master console at the front desk stores code sequences for each door.

The smallest type of computer available, which meets the data processing needs of many hospitality businesses. Also called personal computer.

A modest but sufficient level of service which appeals to the largest segment of the travelling public. Mid-range property may offer uniformed service, airport limousine service, and food and beverage room service; a specialty restaurant, coffee shop, and lounge; and special rates for certain guests.

A single room with a bed and sitting area. The sleeping area may be in bedroom separate from the parlor or living room. Also called junior suite.

Small, in-room refrigerated or unrefrigerated cabinets used to store beverages, snacks, and other items the hotel wishes to offer for sale to guests.

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.

A revenue management strategy that instructs reservationists to decline any room reservation request that does not equal or exceed the predetermined minimum number of nights allowed.

The lowest amount of compensation that an employer may pay to an employee covered by the FLSA or applicable state law. Minimum wage provisions cover most hotel employees; however, exceptions can include youthful employees being paid a training wage for the first ninety days of employment and some tipped employees.

The average number of minutes required to clean a guest room. Determined by the following computation: total number of minutes worked by room attendants/total number of guest rooms cleaned = minutes per room.

Personal property that has been purposefully placed somewhere but is then forgotten about by the rightful owner.

Short for Minimum Length of Stay

The short form of Manager on Duty. The individual on the hotel property responsible for making any management decisions required during the period he or she is MOD.

Any (and every) time that a guest has an opportunity to form an impression about the hotel. Moments of truth can be positive or negative.

An industry in which one firm is the only significant provider of a good or service.

A person who holds a full-time job at one organization and a part-time job at another organization.

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 lodging facility that caters primarily to guests arriving by automobile.

An inner drive that a person has to attain a goal.

Short for Month-to-Date.

Occupancy ratios, indicating either a multiple occupancy percentage or the average number of guests per room sold, used to forecast food and beverage ratios, indicate clean linen requirements, and analyze average daily room rates.