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Some countries have rating by a single public standard; Belgium, Denmark, Greece, Italy, Malta, Netherlands, Portugal, Spain and Hungary all have laws defining the hotel rating. In Germany, Austria and Switzerland, the rating is defined by the respective hotel industry association using a five-star system.
Most hotels and major hospitality companies have set industry standards to classify hotel types. An upscale full-service hotel facility offers luxury amenities, full-service accommodations, an on-site restaurant , and the highest level of personalized service, such as a concierge , room service , and clothes-ironing staff.
In 2020, the United States Department of Labor Standard Industrial Classification (SIC) defines the hospitality industry more broadly, including: [2]. 701 Hotels and Motels, including auto courts, bed and breakfast inns, cabins and cottages, casino hotels, hostels, hotels (except residential ones), inns furnishing food and lodging, motels, recreational hotels, resort hotels, seasonal hotels ...
The American Hotel and Lodging Association (AHLA; formerly the American Hotel and Motel Association, and before that American Hotel Association) is an industry trade group with thousands of members including hotel brands, owners, management companies, Real Estate Investment Trusts (REITs), independent hotels, bed and breakfasts, state hotel associations and industry partners and suppliers.
The Global Industry Classification Standard (GICS) is an industry taxonomy developed in 1999 by MSCI and Standard & Poor's (S&P) for use by the global financial community. The GICS structure consists of 11 sectors, 25 industry groups, 74 industries and 163 sub-industries [1] into which S&P has categorized all major public companies.
Most hotels and major hospitality companies have set industry standards to classify hotel types. An upscale full-service hotel facility offers luxury amenities, full-service accommodations, an on-site restaurant , and the highest level of personalized service, such as a concierge , room service , and clothes-ironing staff.
At that time, hotels sometimes had 50 different systems that were not inter-operable. HTNG estimated in 2005 that $25 billion was spent annually and worldwide by hotel companies in IT solutions. [3] In 2013, HTNG released a secure payments framework for hotels, but mentioned it would be efficient only if the whole industry were to use it. [4]
Since RevPAR is a measurement for a particular period of 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 ...