Hotels have two types of accounts receivable: registered guests and city guests.
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Unlike timeshares, where upkeep is the owner's responsibility, condominium upkeep and repair are the developer's costs.
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Early departure fees:
a. Have been enthusiastically accepted by guests who were walked previously because their reserved room is now assured
b. Are an understay penalty that has not achieved wide usage
c. Were started by the credit-card companies after they experienced high chargebacks
d. Generally, do not apply to AAA or AARP reservations
e. All of the above
Resort hotels rely more on walk-ins than urban hotels; urban hotels rely more on walk-ins than motor hotels.
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In order to keep exchange costs low, hotel cashiers are instructed to make change in foreign currency they have perhaps the guest will even accept currency other than their own.
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Many lodging companies own, manage, lease and/or franchise hotels. Which company only franchises?
a. Best Western
b. Cendant
c. Hilton.
d. Inter-Continental
e. Marriott
If day-rate room counts are included in the occupancy computation, it is possible for a hotel to exceed 100 percent occupancy.
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So far as reservation forecasts are concerned:
a. 30-day projections are more accurate than 3-day forecasts
b. Today's opening room count is the same as tomorrow's closing count
c. Comp rooms must not be counted as occupied
d. City-wide events and local activities impact on counts
e. All of the above
Franchise fees are charged on either a per room basis or as percentage of room sales.
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The conversion to condos of the world-famous Plaza Hotel in New York City is part of a nationwide movement toward condo hotels and the resurgence of residents to city-centers.
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