Terminology and Concepts in Facilities Management and Hospitality Industry, Quizzes of Hospitality and Tourism

Download Terminology and Concepts in Facilities Management and Hospitality Industry and more Quizzes Hospitality and Tourism in PDF only on Docsity! TERM 1 ADA DEFINITION 1 Americans with Disabilities Act.US federal legislation enacted in the early 1990s mandating that owners and operators of public facilities provide certain accommodations for individuals with disabilities as specified in the legislation TERM 2 CapEx DEFINITION 2 Capital expenditureA major expenditure category in the hospitality industry covering replacement of worn-out furniture, finishes, soft goods, ADA requirements, etc. TERM 3 facilities management companies DEFINITION 3 Companies with the expertise to provide services such as housekeeping, grounds, and physical plant management, to hospitality companies, schools, universities, and various industries TERM 4 FF&E DEFINITION 4 Furniture, fixtures, and equipment (a major portion of CapEx!!!) TERM 5 franchise agreement DEFINITION 5 An agreement under which one entity that has developed a particular pattern or format for doing business (the franchisor) grants to another entity (the franchisee) the right to conduct such a business provided it follows the established pattern TERM 6 HVAC DEFINITION 6 Heating, ventilation, and air conditioning TERM 7 management contract DEFINITION 7 an agreement between the owner/developer of a property and a professional hotel management companyowner/developer= retains the financial and legal responsibility management co=receives an agreed-upon fee for operating the facility TERM 8 POM DEFINITION 8 Property operation and maintenanceUsually the largest cost! TERM 9 R&M DEFINITION 9 Repair and maintenance applied to the regular and unanticipated repair and maintenance of a property TERM 10 replacement reserves DEFINITION 10 Cash reserves (% based on gross revenues) set aside largely for maintenance and repair needs usually allocate 3-4% for replacement reserve