Download Term 1: Hospitality Industry Systems and Pricing and more Quizzes Hospitality and Tourism in PDF only on Docsity! TERM 1 Global Distribution System (GDS) DEFINITION 1 system that books and sells ticketsUsed by airlines TERM 2 Central Reservations Services (CRS) DEFINITION 2 hotel reservation system TERM 3 Property Management System DEFINITION 3 Property management system controls reservations at a specific site TERM 4 How are PMS, GDS, and CRS connected? DEFINITION 4 GDS systems feed into a switch then to CRS and then to PMS TERM 5 Examples of Internet-Based Distribution Channels DEFINITION 5 Online Travel Agencies: Travelocity, Priceline, Hotwire, CheapTicketsMetasearch: Sidestep, Kayak, TravelZoo TERM 6 Essential Reservation Data DEFINITION 6 - Arrival/Departure dates, # of nights- # of persons and who they are- # of rooms required- types of room required- corporate affiliations- price- name TERM 7 Optional Reservation Info DEFINITION 7 - estimated time of arrival- special requests- discounts or affiliations- address TERM 8 Major Categories of Group Business DEFINITION 8 Tour Groups- over 40% may be no shows, reservations dealt with by sales office rather than reservationsConvention groups- booked by association executive but members deal directly with the hotelExhibition/Trade Show- May have a longer stay TERM 9 CVB DEFINITION 9 Convention and Visitors Bureau-publicly funded, quasi- governmental organizations to represent a city's hospitality industry-reps bid for small and large conferences TERM 10 Overflow Hotels DEFINITION 10 Hotel other than convention hotel-may require advance deposit for full stay and 48-72 hr cancellation notice TERM 21 Shortcomings of Hubbart Formula DEFINITION 21 looks at what we need rather than market conditionsassumptions are problematic TERM 22 Building cost room rate formula DEFINITION 22 Average room rate should equal $1 per $1000 of construction cost($14 million/200 rooms/$1000)=$70 TERM 23 Ideal Average Room Rate Concept DEFINITION 23 if revenue is greater, increase rates or convert rooms to higher levelif revenue is lower, try upselling or marketinggreater availability of cheaper rooms TERM 24 Folio DEFINITION 24 bill containing account of a guest TERM 25 Two Types of Customers DEFINITION 25 Transient-registered and occupying roomsCity Guests-owe the hotel but aren't staying there TERM 26 Master Accounts DEFINITION 26 Used for a single-entity group for common charges that are not billable to individuals TERM 27 Split Billing DEFINITION 27 Charges move from master account to guest's personal folio TERM 28 Charges/Debits DEFINITION 28 Charges incurred by guest that increase the amount owed TERM 29 Credits DEFINITION 29 Payments made by the guest that reduce the amount owed TERM 30 3 Means of Settling Accounts DEFINITION 30 1) Cash2) Credit3) Allowance (reduction in the guests bill)
