Folios are settled (paid) in one of three ways: with cash, with credit, with an allowance.
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Per diem room rates are those established by the American Hotel & Lodging Association (AH&LA) for each major U.S. city, but all cities in the nation cannot be covered (generally those with populations under 50,000).
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Exception Reporting highlights issues that veer from the norm, saving management precious time that would otherwise be spent in reviewing normal data.
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E-folios offer advantages to the business guest; to that guest's company paying for that employee's travel expenses and for the hotel housing that guest.
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Although on-change and out-of-inventory rooms are caused by different circumstances, their impact on yield management decisions is the same.
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Hotels can collect late charges with less difficulty if the guest has used speedy check-out instead of checking out at the desk.
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Increases in lodging taxes impact on the elasticity of room demand just as if the rate, itself, had been increased.
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Yield management has achieved its objectives if the fraction (Rate Realized / Rate Potential) is one (1) or higher.
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Guest-service agents/cashiers safeguard their cash by using a cashier's well.
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Buying a block of rooms means committing to a certain number of rooms for a given number of nights.
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