Podcast
Questions and Answers
What does franchising allow hotels to do?
What does franchising allow hotels to do?
- Restrict growth to maintain quality
- Reduce operational costs significantly
- Expand rapidly by using other people's money (correct)
- Operate independently without guidelines
What is the largest lodging enterprise in the world?
What is the largest lodging enterprise in the world?
Marriott
Franchising trends include all of the following except:
Franchising trends include all of the following except:
- Franchisee satisfaction
- Growth in budget hotels
- Increasing demand in the lodging industry
- Declining demand in the lodging industry (correct)
Franchisee benefits include all of the following except:
Franchisee benefits include all of the following except:
The average franchise fees range from ________ percent of room revenue.
The average franchise fees range from ________ percent of room revenue.
What is known as a management contract?
What is known as a management contract?
Name one organization that rates and classifies hotels.
Name one organization that rates and classifies hotels.
Hotels classified by level of service would include:
Hotels classified by level of service would include:
Which hotel has received all of the hospitality industry awards including the Malcolm Baldrige National Quality Award?
Which hotel has received all of the hospitality industry awards including the Malcolm Baldrige National Quality Award?
Franchising allows a company to expand more rapidly by using other people's money.
Franchising allows a company to expand more rapidly by using other people's money.
Marriott's arrangement in building and selling hotels to investment firms for operation is known as a management contract.
Marriott's arrangement in building and selling hotels to investment firms for operation is known as a management contract.
What type of hotels meet the needs of groups attending large meetings?
What type of hotels meet the needs of groups attending large meetings?
What items might be included in a franchise contract?
What items might be included in a franchise contract?
Who is the management company if Mr. Joe manages his newly branded Renaissance hotel?
Who is the management company if Mr. Joe manages his newly branded Renaissance hotel?
What is the main function of a hotel?
What is the main function of a hotel?
What is the executive committee of a hotel?
What is the executive committee of a hotel?
The executive committee is involved in all major decisions but ultimate responsibility lies with the General Manager.
The executive committee is involved in all major decisions but ultimate responsibility lies with the General Manager.
A position description for the front office includes all tasks except:
A position description for the front office includes all tasks except:
Hotels are extremely diverse with various segments offered in lodging.
Hotels are extremely diverse with various segments offered in lodging.
How is room occupancy percentage (ROP) determined?
How is room occupancy percentage (ROP) determined?
How is Average Room Rate (ADR) determined?
How is Average Room Rate (ADR) determined?
What is the rack rate?
What is the rack rate?
The directors of key operations make up the executive team.
The directors of key operations make up the executive team.
The front office, reservations, housekeeping, concierge, guest services, security, and communications make up the ________ of a hotel.
The front office, reservations, housekeeping, concierge, guest services, security, and communications make up the ________ of a hotel.
A demand forecasting technique used to maximize revenue is called ___________.
A demand forecasting technique used to maximize revenue is called ___________.
What are event planners responsible for?
What are event planners responsible for?
What phase of the meeting planning process involves gathering information about event locations and outcomes?
What phase of the meeting planning process involves gathering information about event locations and outcomes?
What phase of the meeting planning process are you involved in when planning the budget and selecting the event site?
What phase of the meeting planning process are you involved in when planning the budget and selecting the event site?
What stage of event planning is being involved when reviewing successes and challenges after the event?
What stage of event planning is being involved when reviewing successes and challenges after the event?
What is called when you train your employees and provide them with necessary information?
What is called when you train your employees and provide them with necessary information?
Which type of event includes annual meetings, sales meetings, workshops, training meetings, and awards ceremonies?
Which type of event includes annual meetings, sales meetings, workshops, training meetings, and awards ceremonies?
According to the Event Solutions Black Book, what is the most popular site used by meeting planners?
According to the Event Solutions Black Book, what is the most popular site used by meeting planners?
What category do SMERF events fall under?
What category do SMERF events fall under?
Rigging refers to loading furniture in and out of an event space.
Rigging refers to loading furniture in and out of an event space.
A key skill for an event planner working with charity or fundraising events is:
A key skill for an event planner working with charity or fundraising events is:
What are examples of project management elements?
What are examples of project management elements?
What certification can significantly increase a meeting planner's salary?
What certification can significantly increase a meeting planner's salary?
What is the primary responsibility of the convention and visitors' bureau?
What is the primary responsibility of the convention and visitors' bureau?
In the hospitality industry, the two largest expositions are the American Hotel & Lodging Association conference and the ________ annual exposition.
In the hospitality industry, the two largest expositions are the American Hotel & Lodging Association conference and the ________ annual exposition.
What does MICE stand for?
What does MICE stand for?
What are large facilities for meetings and expositions usually called?
What are large facilities for meetings and expositions usually called?
A convention and visitor's bureau (CVB) supports various local industries.
A convention and visitor's bureau (CVB) supports various local industries.
What stage of event planning involves visiting multiple venues?
What stage of event planning involves visiting multiple venues?
Personalization is an important trend in event planning success.
Personalization is an important trend in event planning success.
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Study Notes
Franchising in the Hotel Industry
- Franchising enables fast expansion by utilizing external capital.
- The largest lodging enterprise globally is Marriott.
- Current franchising trends show no decline in lodging industry demand.
Benefits and Costs of Franchising
- Franchisees typically do not receive discounted franchise fees.
- Average franchise fees range between 3-4% of room revenue.
Hotel Management
- A management contract involves selling a hotel to a banking firm while charging a fee to manage it.
- Marriott acts as the management company when a franchisee operates a branded hotel.
Hotel Classification and Ratings
- Two notable organizations for hotel ratings are Forbes Travel Guide and American Automobile Association (AAA).
- Hotels can be classified by service level: full service, mid-scale, extended stay, and limited service.
Award-Winning Hotels
- Ritz-Carlton has earned multiple prestigious hospitality awards, including the Malcolm Baldrige National Quality Award.
Operational Aspects of Hotels
- The primary function of hotels is to offer a superior lodging experience.
- The executive committee in a hotel consists of key department heads and is instrumental in major decisions, with the General Manager ultimately responsible.
- The Room Divisions of a hotel include front office, reservations, housekeeping, concierge, guest services, security, and communications.
Financial Metrics in Hotel Management
- Room occupancy percentage (ROP) is calculated as total rooms occupied divided by total available rooms.
- Average Room Rate (ADR) is derived from room revenue divided by the number of rooms sold.
- The rack rate is the standard published room rate aimed to be achieved by the hotel.
Revenue Management and Demand Forecasting
- Revenue Management is a demand forecasting technique aimed at revenue optimization, borrowed from the airline industry.
Event Planning Process
- Event planners oversee the comprehensive planning of events from inception to completion.
- Different phases of event planning include research, planning, and evaluation.
- Research involves gathering information on event specifics.
- Planning focuses on budgeting, site selection, and contract negotiations.
- Evaluation entails assessing the event's successes and challenges post-convention.
Employee Training and Empowerment
- Empowerment in the workplace involves training employees to perform their jobs effectively.
Types of Events
- Corporate events cover various types such as annual meetings, sales meetings, workshops, and awards ceremonies.
- MICE stands for Meetings, Incentive Travel, Conventions, and Exhibitions.
- SMERF events are categorized as social events.
Professional Development in Event Planning
- Meeting Planners International offers certification (CMP) that can increase earning potential significantly for those who obtain it.
Convention and Visitor's Bureau (CVB)
- The primary role of a CVB is to generate and boost revenue for a city by attracting tourists and business.
Importance of Personalization
- Personalization is a vital trend in enhancing event planning success.
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