Hotel Management Glossary
There are currently 20 Glossary Items in this directory beginning with the letter N.
Negotiated Rate
An agreement to provide a select group of travelers, subject to availability, rooms at and agreed on and discounted rate. The discounted rate is in effect for the term of the negotiated rate agreement.
Net Operating Income
The income before interest and taxes found on a restaurant or hotel income statement. (NOI)
Net Operating Profit
Net operating profit represents the profitability of a company after accounting for cost of goods sold and operating expenses. (NOP)
Net Rate
The amount per room actually received by a hotel when selling its rooms through an intermediary. Also referred to as wholesale rate.
Networking
The development of personal relationships for a business-related purpose. For example, a Chamber of Commerce-sponsored breakfast open to all community business leaders interested in improving local traffic conditions would be an excellent example of a networking opportunity for a member of a hotel's sales team.
Neutrality Agreement
A hotel signing one of these agreements promises to stay neutral if the union decides to organize the property; the neutrality agreement means that the hotel does not have the right to contest union organization, and the employees do not have the right to vote in a secret ballot to determine whether they wish to be represented. (US)
Night Audit
The process of reviewing for accuracy and completeness the accounting transactions from one day to conclude or "close" that day's sales information in preparation for posting the transactions of the next day.
Night Auditor
An employee who checks the accuracy of front office accounting records and compiles a daily summary of hotel financial data as part of a night audit. In many hotels, the night auditor is actually an employee of the accounting division.
No-Post Status
A term used to indicate a guest who is not allowed to charge purchases to his or her room account.
No-Show
A guest who makes a confirmed room reservation but fails to cancel the reservation or arrive at the hotel on the date of the confirmed reservation.
Non-Affiliate Reservation Network
A central reservation system which connects independent (non-chain) properties.
Non-Automated
A system of front office record keeping characterized by the exclusive use of handwritten forms. The elements of non-automated systems have determined the structure of many front office processes in even the most advanced automated facilities.
Non-Guaranteed Reservation
A reservation arrangement where the hotel agrees to hold a room for the guest until a stated reservation cancellation hour on the day of arrival. The property is not guaranteed payment in the case of no-shows.
Non-Guest Account
An account created to track the financial transactions of a local business or agency with charge privileges at the hotel, a group sponsoring a meeting at the hotel, or a former guest whose account was not satisfactorily settled at the time of departure.
Non-Guest Folio
A folio used to chart transactions on an account assigned to a non-guest business or agency with hotel charge purchase privileges.
Non-programmed Decisions
Decisions that occur infrequently and require creative and unique decision- making abilities.