Questions and Answers
What does franchising allow hotels to do?
What is the largest lodging enterprise in the world?
Marriott
Franchising trends include all of the following except:
Franchisee benefits include all of the following except:
Signup and view all the answers
The average franchise fees range from ________ percent of room revenue.
Signup and view all the answers
What is known as a management contract?
Signup and view all the answers
Name one organization that rates and classifies hotels.
Signup and view all the answers
Hotels classified by level of service would include:
Signup and view all the answers
Which hotel has received all of the hospitality industry awards including the Malcolm Baldrige National Quality Award?
Signup and view all the answers
Franchising allows a company to expand more rapidly by using other people's money.
Signup and view all the answers
Marriott's arrangement in building and selling hotels to investment firms for operation is known as a management contract.
Signup and view all the answers
What type of hotels meet the needs of groups attending large meetings?
Signup and view all the answers
What items might be included in a franchise contract?
Signup and view all the answers
Who is the management company if Mr. Joe manages his newly branded Renaissance hotel?
Signup and view all the answers
What is the main function of a hotel?
Signup and view all the answers
What is the executive committee of a hotel?
Signup and view all the answers
The executive committee is involved in all major decisions but ultimate responsibility lies with the General Manager.
Signup and view all the answers
A position description for the front office includes all tasks except:
Signup and view all the answers
Hotels are extremely diverse with various segments offered in lodging.
Signup and view all the answers
How is room occupancy percentage (ROP) determined?
Signup and view all the answers
How is Average Room Rate (ADR) determined?
Signup and view all the answers
What is the rack rate?
Signup and view all the answers
The directors of key operations make up the executive team.
Signup and view all the answers
The front office, reservations, housekeeping, concierge, guest services, security, and communications make up the ________ of a hotel.
Signup and view all the answers
A demand forecasting technique used to maximize revenue is called ___________.
Signup and view all the answers
What are event planners responsible for?
Signup and view all the answers
What phase of the meeting planning process involves gathering information about event locations and outcomes?
Signup and view all the answers
What phase of the meeting planning process are you involved in when planning the budget and selecting the event site?
Signup and view all the answers
What stage of event planning is being involved when reviewing successes and challenges after the event?
Signup and view all the answers
What is called when you train your employees and provide them with necessary information?
Signup and view all the answers
Which type of event includes annual meetings, sales meetings, workshops, training meetings, and awards ceremonies?
Signup and view all the answers
According to the Event Solutions Black Book, what is the most popular site used by meeting planners?
Signup and view all the answers
What category do SMERF events fall under?
Signup and view all the answers
Rigging refers to loading furniture in and out of an event space.
Signup and view all the answers
A key skill for an event planner working with charity or fundraising events is:
Signup and view all the answers
What are examples of project management elements?
Signup and view all the answers
What certification can significantly increase a meeting planner's salary?
Signup and view all the answers
What is the primary responsibility of the convention and visitors' bureau?
Signup and view all the answers
In the hospitality industry, the two largest expositions are the American Hotel & Lodging Association conference and the ________ annual exposition.
Signup and view all the answers
What does MICE stand for?
Signup and view all the answers
What are large facilities for meetings and expositions usually called?
Signup and view all the answers
A convention and visitor's bureau (CVB) supports various local industries.
Signup and view all the answers
What stage of event planning involves visiting multiple venues?
Signup and view all the answers
Personalization is an important trend in event planning success.
Signup and view all the answers
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.
Studying That Suits You
Use AI to generate personalized quizzes and flashcards to suit your learning preferences.
Description
Test your knowledge on franchising concepts and trends in the hotel industry. This quiz covers key definitions and the largest enterprises involved in lodging through franchising. Understand the benefits and challenges faced by franchisees.
