Intro to Hospitality Management Exam 1 – Flashcards
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Hotel Business
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Provides career opportunities to associates to help make reservations, greet, assist, and serve guests
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Restaurant Business
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Fulfills guests' diverse needs and wants
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Empowerment
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Turning over decision-making responsibilities and authority to front-line employees
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Sustanibility
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The ability to achieve continuing economic prosperity while protecting the natural resources of the planet and providing a high quality of life for its people and future generations
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Henry Flaggler
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The Breakers
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External Customer
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Their satisfaction ultimately measures a company's success, since they are the people who are willing to pay for a company's services
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Internal Customers
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The people inside any company who receive or benefit from the output of work done by others in the company
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CHRIE
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The global advocate of hospitality and tourism education
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NRA
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National Restaurant Association
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AH&LA
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American Hotel & Lodging Association
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ISES
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International Special Events Society
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PCMA
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Professional Convention Management Association
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NSMH
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National Society of Minorities in Hospitality
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Back of the House
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The area in a hospitality establishment that guests usually do not view, including all areas responsible for food quality and production, such as the kitchen and recieving, office, and storage areas
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Front of the House
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The area in a hospitality establisment that guests view, such as the entrance and dining room
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Tourism
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World's largest industry
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Benefits of Tourism
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Provides governments with substantial tax revenues and offers the greatest global employment prospects
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The Five Ages of Tourism
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Pre-industrial, the railway age, the automobile age, the jet aircraft age, and the cruise ship age
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Top Rental Car Company
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Enterprise
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Airline Alliances
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Allow them access to each other's "feeder markets" and to resources that enable them to flourish in what will ultimately be a worldwide deregulation
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The Hub and Spoke System
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Has two main benefits: airlines can service more cities at a lower cost, and airlines can maximize passenger loads from small cities, thereby saving fuel
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The Multiplier Effect
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A chain reaction of additional income and purchases that results in total purchases that are greater than the initial increase in purchases.
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Ecotourism
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A form of tourism that supports the conservation and sustainable development of ecologically unique areas
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ARC
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Airlines Reporting Corporation; the entity that authorizes an agent to act on behalf of an airline and sell airline tickets
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Thomas Cook
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Opened the first travel agency in the United Kingdom
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Three most prominent states that require some sort of licensing
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Florida, California, and Washington
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Errors and Omission Insurance
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A type of insurance that indemnifies professionals if they make an error in their profession or if they omit something important from their analyses.
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Civil Aeronautics Board
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a federal government agency based in Washington that had the right to tell an airline where it could fly and how much it could charge.
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Two airlines allowed to fly international
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Transworld Airlines and Pan American World Airlines
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Code share arrangements
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allows carriers, both domestic and foreign, to carry passengers on each others aircraft and also show multiple designations for particular flights
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franchising
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concept that allows a company to expand more rapidly by using other peoples money than if it had to acquire its own financing
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management contracts
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little or no up-front financing or equity is involoved
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Transient Occupancy Tax
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the bed tax
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yield management
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a percentage of guests who book and send in a deposit in advance will be able to secure a room at a more reasonable price than someone booking a room with just three days notice
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night auditer
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waits until the hotel quiets down at about 1:00 am and then begins the task of balancing the guests account receivables
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REVPAR
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revenue per available room, calculated by dividing room revenue by the number of rooms available
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Smith travel report
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publisher of the STAR reports, a benchmarking suite that tracks one hotels occupancy, average daily rate, and REVPAR against a competitive set of hotels
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average daily rate
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room revenue divided by number of rooms sold
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room occupancy percentage
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how many rooms are occupied that night
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capture rate
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restaurants basis for forecasting the number of expected guests
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