#9 vocab: Financial Reports
Terms in this set (15)
The process of maintaining financial accounts.
average daily rate (ADR)
the total room revenue divided by the number of occupied rooms. It is the average amount paid for a guest room.
a mixture of financial and non financial considerations that successful managers and owners keep in mind in order to achieve long-term profitability
revenues generated by a specific department minus their associated expenses.
money spent on payroll, supplies, utilities, etc.
food and beverage expens
the cost associated with food and beverage services. the two largest are labor (salaries and wages) and food and beverage purchases form vendors; together, these are refered to as "prime costs."
food and beverage revenue
revenue generated by sales of food and beverages
the number of occupied (sold) rooms divided by the total number of available rooms to be sold and expressed as a percentage.
revenue minus expenses.
money received from the sale of goods and services
revenue per available room (revpar)
total rooms revenue divided by rooms available. alternatively, this can be calculated by multiplying the occupancy rate by the ADR
the costs associated with the sale or rental of rooms. examples include labor (salaries and wages), guest amenities (soap and shampoo), linens, uniforms, and cable/satellite television.
revenue generated from the sale or rental of rooms
a company that sells supplies, fixtures, furniture, equipment, or services to another company; also called a vendor
undistributed operating expenses
expenses that are considered applicable to the entire property and are not easily allocated to specific departments (for example, air conditioning)