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Hotel management contract / Terah Sandoval.

By: Material type: TextTextPublisher: London, United Kingdom : Vintage Press, 2023Edition: First editionDescription: xiii, 324 pages : illustrations ; 24 cmContent type:
  • text
Media type:
  • unmediated
Carrier type:
  • volume
ISBN:
  • 9781912859771
Subject(s): DDC classification:
  • 647.94068 Sa571h
LOC classification:
  • TX911.3 .S263 2023
Contents:
Hospitality management systems -- Hotel resource management in hospitality -- Operation in hotel management -- Financial auditing of hospitality industry -- Package holiday and aviation industry -- Travel agency and tour operators -- Analysis of hospitality budgeting -- Restaurant planning and management -- Service quality management in hospitality -- Challenges and strategies of hospitality industry.
Summary: "Under a hotel management contract, the owner of the hotel real estate and business appoints a management company to operate the hotel business on the owner's behalf. Management contracts can be very long term contracts. Larger, branded management companies are particularly concerned to secure flags for their brands that will be there for decades. To some extent the value of their businesses relies on holding long term contracts. There are a number of structures available for the ownership and operation of a hotel, many of which separate ownership of the real estate from the day-to-day running of the hotel business. Most branded hotels are operated under a lease, management contract or franchise, or a combination of these options. Each of these models creates a separation of some sort between the investment in the real estate element of the hotel and the operation and/or branding of the business element. Over the past few decades hotel brands and operators have increasingly pursued more capital light growth and used these models to drive expansion in partnership with real estate investors. The furniture, fittings and equipment (FF&E) in a hotel are often exposed to heavy use and must be replaced or renewed on a regular cycle to avoid deterioration in the hotel product/brand and its ability to generate income. The owner will be responsible for funding this expenditure. This valuable book is a good reference guide for anyone involved in negotiation or deals with hotels operators." -- Back cover
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Holdings
Item type Current library Shelving location Call number Copy number Status Date due Barcode
Books Books Main Library Circulation Section CIR 647.94068 Sa571h 2023 (Browse shelf(Opens below)) 1-1 Available 030719

Includes bibliographical references and index

Hospitality management systems -- Hotel resource management in hospitality -- Operation in hotel management -- Financial auditing of hospitality industry -- Package holiday and aviation industry -- Travel agency and tour operators -- Analysis of hospitality budgeting -- Restaurant planning and management -- Service quality management in hospitality -- Challenges and strategies of hospitality industry.

"Under a hotel management contract, the owner of the hotel real estate and business appoints a management company to operate the hotel business on the owner's behalf. Management contracts can be very long term contracts. Larger, branded management companies are particularly concerned to secure flags for their brands that will be there for decades. To some extent the value of their businesses relies on holding long term contracts. There are a number of structures available for the ownership and operation of a hotel, many of which separate ownership of the real estate from the day-to-day running of the hotel business. Most branded hotels are operated under a lease, management contract or franchise, or a combination of these options. Each of these models creates a separation of some sort between the investment in the real estate element of the hotel and the operation and/or branding of the business element. Over the past few decades hotel brands and operators have increasingly pursued more capital light growth and used these models to drive expansion in partnership with real estate investors. The furniture, fittings and equipment (FF&E) in a hotel are often exposed to heavy use and must be replaced or renewed on a regular cycle to avoid deterioration in the hotel product/brand and its ability to generate income. The owner will be responsible for funding this expenditure. This valuable book is a good reference guide for anyone involved in negotiation or deals with hotels operators." -- Back cover

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