Hotel Revenue & Management Blog

What is the meaning / definition of Overhead Costs in the hospitality industry? The term Overhead Costs, also called overhead expenses, refers to the indirect costs which occur when operating a business, while excluding costs directly related to the manufacturing of a product or delivery of a service. Overhead Costs do not directly contribute to the generating of revenue. It [...]

What is the meaning / definition of Overbooking in the hospitality industry? Sometimes it can be necessary for a hotel to sell more rooms than it actually has available. To those unfamiliar with the internal workings of the Hospitality Industry, which is always influenced by and somewhat vulnerable to the vicissitudes of the global economic climate, that may sounds strange. [...]

What is the meaning / definition of Outstanding Balance Report in the hospitality industry? This report contains all the listings of a guest’s folios that are unpaid or due to be paid by a guest. This sheet is used to record the total charges and amount that needs to be paid by the guest on departure. This information is then [...]