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LODGING MIDTERM:

•The Tourism Industry – All businesses that cater to the traveling public
•Full-Service Hotel – A lodging property that offers a complete food and beverage service.
•Limited-Service Hotel – A lodging property that offers no or very limited food services; sometimes a complimentary breakfast is served, but there is no table service restaurant.

Classification of Lodging Properties
•Location
•Price
•Size

Location
• The vast majority of all lodging properties (75% of properties and 61% of rooms) are in suburban or highway locations.
• The center city (urban), airport, and destination (resort) properties comprise a relative small percentage of lodging properties and room inventory in the United States.

Terminology
Revenue – Money the hotel collects from guests for the use of rooms or from the purchase of hotel goods and services.
Brand – The name of the hotel chain. Sometimes referred to as a “flag”.
Franchisor – Those who manage the brand and sell the right to use the brand name.
Franchisee – Those who own the hotel and buy the right to use the brand name for a fixed period of time and at an agreed-upon price.

Hotel Terminology
Data Mining – Using technology to analyze guest (and other) related data to make better marketing decisions.
Yield (Revenue) Management – Demand forecasting systems designed to maximize revenue by holding rates high during times of high guest room demand and by decreasing room rates during times of lower guest room demand.
Globalization – The condition in which countries and communities within them throughout the world are becoming increasingly interrelated.
FF&E – The term used to refer to the furniture, fixtures and equipment used by a hotel to service its guests.
Quality Inspection Scores – a.k.a QA scores. The result of inspections conducted by a franchise company to ensure that

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