Term
| What is meant when they say the world of hotels is where the glamour is? |
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Definition
Location,location, location
Beautiful |
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Term
| What company has no hotels in the U.S. and in how many countries do they have hotels? Where are they headquarted? |
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Definition
| InterConti Hotels. 100 different countries. Atlanta |
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Term
| What is the second largest french owned hotel that is second in the number of countries they have hotels. Where are they headquarted? Name of one? |
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Definition
| ACCOR Hotels. 90 different countries. Paris. Sophitels. |
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Term
| What are the 4 main ways hotels are categorized? |
|
Definition
POLS
Price
Ownership
Location
Size |
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Term
| What are the three categories involving price in which hotels are split up? |
|
Definition
Limited Service Hotels
Mid-price hotels
First Class-Luxury Hotels |
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Term
| Describe Limited-Services Hotels... |
|
Definition
economy hotels-a place to sleep for about 40$ really just offering bed, Days Inn, Motel 6, Hampton Inn
Budget Hotels-little more to offer, breakfast, Holiday Inn Express, Comfort Inn, about 80-120$ |
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Term
| Describe Mid-Price Hotels... |
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Definition
| More services and ammenities, 120-150$, Holiday Inn Select Courtyard by Marriott, Four Point Hotels, Hilton Garden Inn |
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Term
| Describe First Class-Luxury Hotels... |
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Definition
| Extended services at high standards, 350-400$ and up, Four Seasons, Ritz Carlton, Marriot Marquis, Taj, Shangri La. |
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Term
| What are the two forms of ownership in which hotels are categorized? |
|
Definition
Independent Hotels
Hotel Chains |
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Term
| Describe Independent Hotels |
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Definition
| Owner operated, single location, Lack of CRS which leads to referral systems. |
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Term
|
Definition
| Central Reservation System. |
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Term
| Describe Hotel Chains...(ownership) |
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Definition
| Under Management-contract, Franchise systems where chains own part/all properties. |
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Term
| Which hotel looks like a sail? |
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Definition
| The Burj Arab-Emirate Hotels |
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Term
| Different strategies for pricing segementation. (2) |
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Definition
| Marriott and Hilton have hotels in multiple segements.Others like Four Seasons only have five star and Holiday Inn has only mid-level hotels |
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Term
| Name some world class trophy hotels.. |
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Definition
| The Broadmoor, The Greenbrier in W.V., the Dolder, The Dorchester in London, The Monte-Carlo Grand Hotel in Monaco,the Mandarin Oriental in Bangkok |
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Term
| Name some world-class hotel properties that are part of chains but keep names... |
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Definition
Waldorf-Astoria, Hilton Hotels
The Burj Arab, Emirates Hotels
St. Regis in Aspen, Starwood Hotels
The Montreux Palace, Fairmont Hotels |
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Term
| What is the most popular way to grow a chain fast and where is this technique most popular? |
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Definition
|
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Term
|
Definition
| The person who invented system, concept |
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Term
| The Franchisor typically sells rights to franchisee to use what? (4) |
|
Definition
Trademark, Signs, Logo
Operating System
CRS
Design and Furnishings |
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Term
| What is the philosophy favoring Franchising. Define it. |
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Definition
| Leveraging-controlling a lot of money with very little of your own. |
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Term
|
Definition
| Cowboys Football player who invested in Rest.+Hotels, but he doesn't run them himself, he hires management companies. |
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Term
| The sale of a franchise can be to? (2) |
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Definition
-An individual owner
-A management company on behalf of owner(Tony Dosette) |
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Term
| What does the franchisee pay? |
|
Definition
Royalties
Fees:advertising,Reservation, etc. |
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Term
| Some companies are pure franchise companies. Give an example |
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Definition
| Wyndham Hotel Group, all 7000 hotels are franchised. |
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Term
| The Marriott Hotel Group owns how many hotels and how do they run their company? |
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Definition
| 3178 hotels, mixed meaning they are both franchisors and management companies.Some are owned and managed by Marriott,some are pure franchises, and some are franchised and managed. |
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Term
| Hotels are high investments in... |
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Definition
|
|
Term
| In response to hotels being high investments in brick and mortar.... |
|
Definition
Ownership and Management Split
-the owner invests money to build hotel
-the franchisor stipulates or specifies the requirement for the brand and the franchise company runs the hotel and pays the owner a return; or management company runs hotel for owner under brand. |
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Term
| Franchisors have their own marketing research teams to help....(2) |
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Definition
-select site
-provide a feasibility study as part of a Business Plan |
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Term
| Give an example of an agency issue that can develop from an ownership and management split. |
|
Definition
| The issue with Marriot Hotels when Ian Schrager and other Marriott employees were locked out of Edition Hawaii and accused of not working in best interest of the owners. |
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Term
| What is Mr. Marriott's famous saying having to do with hotel chains covering all segments? |
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Definition
| "Every person staying a night at a hotel should stay at a Marriott owned chain." |
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Term
| What are the two franchising philosophies involving market segements? |
|
Definition
-Specialize in one segment, Four Seasons,Mandarin Oriental.
-Cover all segments,Marriott(18 Brands covering all segments) |
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|
Term
| How much more do business travellers spend in comparison to the avg. person? |
|
Definition
|
|
Term
| What are two ways hotels are categorized by price? |
|
Definition
| People travel for different reasons so there are hotels for business travelers like City Hotels, Airport Hotels, Highway Motels and there are hotels for leisure travelers like City Hotels and Resort Hotels. |
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Term
| What are the types of ways hotels are categorized by size?(4) |
|
Definition
Under 150 rooms small, Courtyard
150-299 mid size
300-600 Large
More than 600 rooms are Mega Hotels. |
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|
Term
| What is the biggest hotel in the world? Where is it located? How many Rooms? |
|
Definition
| At 7,500 rooms, the Izmailovo in Moscow, Russia is the biggest hotel in the world. |
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|
Term
| What is the biggest hotel in the world? Where is it located? How many Rooms? |
|
Definition
| At 7,500 rooms, the Izmailovo in Moscow, Russia is the biggest hotel in the world. |
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Term
| What is the second largest hotel in the world? |
|
Definition
| Venetian, Las Vegas, 7,119 rooms |
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|
Term
Motels are the chance for___?
Why? |
|
Definition
Immigrants
-Lower investment(5 mill for a Best Western)
-can be run by a family
-favored underimmigration laws |
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|
Term
| How many motels in the USA? |
|
Definition
|
|
Term
| How many of the motels in the USA are owned by immigrants? Who? |
|
Definition
| 25,000 or about half, mostly indians (Patels) |
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|
Term
|
Definition
American Depository Receipt
specific number of shares |
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|
Term
| Since hotels are considered risky, banks ask about..? |
|
Definition
|
|
Term
| The star-rating is given by the? |
|
Definition
| National Hotel Owner Associations or government agencies. |
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Term
| Why is there a big difference between star-ratings in different countries? |
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Definition
| There is no global or universal system for rating hotels. |
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Term
Star-ratings are typically __to___?
With one exception... |
|
Definition
| 1-5 stars with the exception of the Burj Arab which has 7 stars |
|
|
Term
| How many 5-diamond/5-star properties are in the usa? How many and which in Colorado? |
|
Definition
37
-2 Broadmoor in Colorado Springs
Little Nell in Aspen |
|
|
Term
| How many 5-diamond/5-star properties are in the usa? How many and which in Colorado? |
|
Definition
37
-2 Broadmoor in Colorado Springs
Little Nell in Aspen |
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|
Term
| As far as five-star ratings go which two famously compete? |
|
Definition
| Four Seasons and Ritz Carlton |
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|
Term
| What three things are important about hotel development? |
|
Definition
-Site selection
-A feasibility study
-Financing is arranged |
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|
Term
| Who said "Location,Location,Location?" |
|
Definition
|
|
Term
| The type of hotel will determine the appropriate... |
|
Definition
|
|
Term
| Describe the process of hotel site selection... |
|
Definition
-Can proposed location sustain a hotel property
-zoning
-Access
-Sustainability |
|
|
Term
|
Definition
| Land and improvements(FF&E) |
|
|
Term
|
Definition
| Furniture, Fixtures and Equipment |
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|
Term
|
Definition
|
|
Term
|
Definition
|
|
Term
| Memebership to clubs is based on... |
|
Definition
Common Interest
-recreation
-Social
-Fraternal
-Professional |
|
|
Term
| How many private clubs does the USA have? how many employess |
|
Definition
about 14,000 clubs
estimated 365,000 employees |
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Term
|
Definition
| Club Manager Association of America |
|
|
Term
| Who was the first woman admitted into a golf club? Which club? |
|
Definition
| Augusta Club, Conda Lisa Rice |
|
|
Term
| Where is the birthplace of golf? |
|
Definition
| St. Andrews(1400) believed to be the first country club. |
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|
Term
|
Definition
|
|
Term
| Equity clubs are owned by? |
|
Definition
Its members
Founding memebers are your over-bosses |
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|
Term
| How do equity clubs maintain their non-profit status? Why do they want a non-profit status? |
|
Definition
|
|
Term
| Name a few types of clubs... |
|
Definition
| city clubs, country clubs, Yacht clubs, Fraternal clubs, military clubs |
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|
Term
| What is the biggest issue surrounding clubs. |
|
Definition
| In order to have non-profit status they can't discriminate but it still happens in legal ways such as requiring high membership fees, accomplishments. |
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Term
| Most club board of directors have between __to___ members. WHy? |
|
Definition
12-15 members
So that one person doesn't just change it to how they want it. |
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|
Term
| Club manager can be a ___ or a ___? |
|
Definition
| GM or a clubhouse manager and athletic pros |
|
|
Term
| What are the top 3 skills and competences suggested by the CMAA |
|
Definition
Interpersonal skills(people skills)
Dedication(have business in mind)
Integrity(keep you mouth shut)
(Master politician) |
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|
Term
| In clubs what are two parts of their revenue? |
|
Definition
Capital Budget
Operating Budget |
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|
Term
| For the most exclusive clubs what is the avg age of its memebers? |
|
Definition
|
|
Term
| What is minimum consumption assessment? and why have one? |
|
Definition
|
|
Term
| Name the types of memberships using the example of colorado springs country club...(6) |
|
Definition
SCRRJN
Social Memebership
Clubhouse membership
Resident membership(60 miles)
Recreational membership
Junior-executive memebership
Non-resident memebership |
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|
Term
| What is the nickname for golf clubs? |
|
Definition
|
|
Term
| Labor costs for a restaurant are about 30%, how do clubs compare and what other large expense do clubs have? |
|
Definition
| Club labor costs are about 52-53% and clubs have an operating cost of about 30% |
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Term
| What are the avg. dues per member a year at city clubs? About what percent of their revenue is that what is their next biggest source of revenue? |
|
Definition
$2,750, 38% of their revenue
Food(lunch),31% |
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|
Term
What are the avg. dues per member at Country clubs and what percent is that?
What are their next two biggest sources of revenue? |
|
Definition
$6,032, 47%
Food at 23%
Sports at 16% |
|
|
Term
| What are the different plans that hotels offer? |
|
Definition
FEAMC
Full American plan
Modified American plan
Continental Plan
European Plan
All inclusive plan |
|
|
Term
| What is the occupancy rate? |
|
Definition
| Sold rooms/#of rooms by night, month, and year. Then compared |
|
|
Term
| Describe the full american plan |
|
Definition
|
|
Term
| Descirbe the modified american plan |
|
Definition
| 2 meals a day usually breakfast and it varies beween lunch and dinner |
|
|
Term
| Descirbe the continental plan |
|
Definition
|
|
Term
| Describe the European Plan |
|
Definition
|
|
Term
| Descirbe the all inclusive plan |
|
Definition
|
|
Term
| What are the 5 cost centers of hotels? |
|
Definition
Marketing and sales
Engineering
the controller
Human resources
Security |
|
|
Term
| Name the three types of control systems... |
|
Definition
Financial control
Quality Control
Hotel Technology |
|
|
Term
| What are the three standard financial controls? |
|
Definition
Income Statement(IRS internal revenue service)
Balance Sheet(how much is our company worth)
Cash Flow Statement(Dont tell me what you tell the IRS, banks are interested in case of crisis) |
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Term
|
Definition
|
|
Term
|
Definition
Spend more
return
and spread the word(advertising) |
|
|
Term
| Who is the author of a book, what is the book and what company adopted it's philosophy? |
|
Definition
| Stephen Covey, Seven Habits of highly successful People, Marriott |
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Term
|
Definition
| property Management System |
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Term
|
Definition
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