HTM 4250 Lecture Notes - Lecture 7: Overselling, Candid Records, Cumulative Distribution Function

• School: University of Guelph
• Department: Hospitality and Tourism Management
• Course: HTM 4250
• Professor: Holmes

Document Summary

Rooms inventory: all of the unique forms of guest room products offered for sale by a lodging facility. Rooms inventory management is also known as inventory management. Guest will perceive a higher value based on: location of room, room size or type, bed configuration, package. Room code: a property-specific, shorten description used to identify a specific room product in a hotel. For example: nsdd may be used to identify a nonsmoking, double-double room. When devising room codes, rms should strive to create the optimal number of them. Individual room codes should help hotel sales and front desk staffs clearly understand the significant differences between the hotel"s various room types. Rather than only stating price difference between options, explain amenity upgrades to explain the difference. Group rooms: attrition: the difference between the purchases a group pledges to make and the purchases it actually makes.