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Average Daily Rate
Average Daily Rate (commonly referred to as ADR) is a statistical unit that is often used in the lodging industry. The number represents the average rental income per paid occupied room in a given time period. ADR along with the property's occupancy are the foundations for the property's financial performance. ADR is one of the commonly used financial indicators in hotel industry used to measure how well a hotel performs compared to its competitors and itself (year over year). It is common in the hotel industry for the ADR to gradually increase year over year bringing in more revenue. However, ADR itself is not enough to measure the performance of the hotel. One should combine ADR, occupancy and RevPAR (revenue In accounting, revenue is the total amount of income generated by the sale of goods and services related to the primary operations of the business. Commercial revenue may also be referred to as sales or as turnover. Some companies receive reven ... per available room) to ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Statistics
Statistics (from German language, German: ''wikt:Statistik#German, Statistik'', "description of a State (polity), state, a country") is the discipline that concerns the collection, organization, analysis, interpretation, and presentation of data. In applying statistics to a scientific, industrial, or social problem, it is conventional to begin with a statistical population or a statistical model to be studied. Populations can be diverse groups of people or objects such as "all people living in a country" or "every atom composing a crystal". Statistics deals with every aspect of data, including the planning of data collection in terms of the design of statistical survey, surveys and experimental design, experiments.Dodge, Y. (2006) ''The Oxford Dictionary of Statistical Terms'', Oxford University Press. When census data cannot be collected, statisticians collect data by developing specific experiment designs and survey sample (statistics), samples. Representative sampling as ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lodging
Lodging refers to the use of a short-term dwelling, usually by renting the living space or sometimes through some other arrangement. People who travel and stay away from home for more than a day need lodging for sleep, rest, food, safety, shelter from cold temperatures or rain, storage of luggage and access to common household functions. Lodging is a form of the sharing economy. Lodging is done in a hotel, motel, hostel, inn or hostal, a private home (commercial, i.e. a bed and breakfast, a guest house, a vacation rental, or non-commercially, as in certain homestays or in the home of friends), in a tent, caravan/campervan (often on a campsite). Lodgings may be self-catering, whereby no food is provided, but cooking facilities are available. Lodging is offered by an owner of real property or a leasehold estate, including the hotel industry, hospitality industry, real estate investment trusts, and owner-occupancy houses. Lodging can be facilitated by an intermediary such as a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Average
In ordinary language, an average is a single number taken as representative of a list of numbers, usually the sum of the numbers divided by how many numbers are in the list (the arithmetic mean). For example, the average of the numbers 2, 3, 4, 7, and 9 (summing to 25) is 5. Depending on the context, an average might be another statistic such as the median, or mode. For example, the average personal income is often given as the median—the number below which are 50% of personal incomes and above which are 50% of personal incomes—because the mean would be higher by including personal incomes from a few billionaires. For this reason, it is recommended to avoid using the word "average" when discussing measures of central tendency. General properties If all numbers in a list are the same number, then their average is also equal to this number. This property is shared by each of the many types of average. Another universal property is monotonicity: if two lists of numbers ''A'' and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Occupancy
Within the context of building construction and building codes, "occupancy" refers to the use, or intended use, of a building, or portion of a building, for the shelter or support of persons, animals or property. A closely related meaning is the number of units in such a building that are rented, leased, or otherwise in use. Lack of occupancy, in this sense, is known as "vacancy". Building codes It is possible to have multiple occupancies (or building uses) within one building. For example, a high-rise building can have retail stores occupying the lower levels, while the upper levels are residential. Different occupancies within a building are separated by a fire barrier with a defined fire-resistance rating. It is common for a penetration (such as a fire door) to have a fire protection rating lower than the wall fire–resistance rating in which it is installed. For example, a two-hour fire separation normally requires fire doors rated at 90 minutes. For some high challenge o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hotel Industry
A hotel is an establishment that provides paid lodging on a short-term basis. Facilities provided inside a hotel room may range from a modest-quality mattress in a small room to large suites with bigger, higher-quality beds, a dresser, a refrigerator and other kitchen facilities, upholstered chairs, a flat screen television, and En-suite, en-suite bathrooms. Small, lower-priced hotels may offer only the most basic guest services and facilities. Larger, higher-priced hotels may provide additional guest facilities such as a swimming pool, business centre (with computers, printers, and other office equipment), childcare, conference and event facilities, tennis or basketball courts, gymnasium, restaurants, day spa, and social function services. Hotel rooms are usually Room number, numbered (or named in some smaller hotels and Bed and breakfast, B&Bs) to allow guests to identify their room. Some boutique, high-end hotels have custom decorated rooms. Some hotels offer meals as part ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hotel
A hotel is an establishment that provides paid lodging on a short-term basis. Facilities provided inside a hotel room may range from a modest-quality mattress in a small room to large suites with bigger, higher-quality beds, a dresser, a refrigerator and other kitchen facilities, upholstered chairs, a flat screen television, and En-suite, en-suite bathrooms. Small, lower-priced hotels may offer only the most basic guest services and facilities. Larger, higher-priced hotels may provide additional guest facilities such as a swimming pool, business centre (with computers, printers, and other office equipment), childcare, conference and event facilities, tennis or basketball courts, gymnasium, restaurants, day spa, and social function services. Hotel rooms are usually Room number, numbered (or named in some smaller hotels and Bed and breakfast, B&Bs) to allow guests to identify their room. Some boutique, high-end hotels have custom decorated rooms. Some hotels offer meals as part ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Revenue
In accounting, revenue is the total amount of income generated by the sale of goods and services related to the primary operations of the business. Commercial revenue may also be referred to as sales or as turnover. Some companies receive revenue from interest, royalties, or other fees A fee is the price one pays as remuneration for rights or services. Fees usually allow for overhead (business), overhead, wages, costs, and Profit (accounting), markup. Traditionally, professionals in the United Kingdom (and previously the Repu .... This definition is based on International Accounting Standard, IAS 18. "Revenue" may refer to income in general, or it may refer to the amount, in a monetary unit, earned during a period of time, as in "Last year, Company X had revenue of $42 million". Profit (accounting), Profits or net income generally imply total revenue minus total expenses in a given period. In accountancy, accounting, in the balance statement, revenue is a subsection of the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
RevPAR
RevPAR, or revenue per available room, is a performance metric in the hotel industry that is calculated by dividing a hotel's total guestroom revenue by the room count and the number of days in the period being measured.Mauri, A. G. (2012), ''Hotel Revenue Management: Principles and Practices'', Pearson, , pp. 27-38. However, if the calculation uses total hotel revenue instead of guestroom revenue it equals TRevPAR (Total Revenue Per Available Room). TRevPAR is another closely related performance metric in the hotel industry. Since RevPAR is only a measurement for a point in time (say a day, or month or year) it is most often compared to the same time frame. It is often used in comparison to competitors within a custom defined market, trading area, or advertising region or a self-selected competitive set as defined by the hotel's owner or manager, which is referred to as RevPAR Index or RGI (Revenue Generating Index). Also, comparisons are usually best considered between hotels o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Business Economics
Business economics is a field in applied economics which uses economic theory and quantitative methods to analyze business enterprises and the factors contributing to the diversity of organizational structures and the relationships of firms with labour, capital and product markets.Moschandreas, Maria (2000). ''Business Economics'', 2nd Edition, Thompson Learning,Descriptionand chapter-previelinks A professional focus of the journal ''Business Economics'' has been expressed as providing "practical information for people who apply economics in their jobs." Business economics is an integral part of traditional economics and is an extension of economic concepts to the real business situations. It is an applied science in the sense of a tool of managerial decision-making and forward planning by management. In other words, business economics is concerned with the application of economic theory to business management. Business economics is based on microeconomics in two categories: posit ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Business Intelligence Terms
Business is the practice of making one's living or making money by producing or buying and selling The ''Property Brothers'' franchise is a Canadian media franchise that stars Canadian twins Jonathan and Drew Scott and centers around the selling, purchasing, and renovation of real estate property. The shows also often guest star their olde ... Product (business), products (such as goods and Service (economics), services). It is also "any activity or enterprise entered into for profit." Having a business name does not separate the business entity from the owner, which means that the owner of the business is responsible and liable for debts incurred by the business. If the business acquires debts, the creditors can go after the owner's personal possessions. A business structure does not allow for corporate tax rates. The proprietor is personally taxed on all income from the business. The term is also often used colloquially (but not by lawyers or by public officials) to re ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
