Hotel Revenue & Management Blog

What is the meaning / definition of Franchise Disclosure Documents? The term Franchise Disclosure Document, also known under the acronym FDD, refers to a legal document implemented in 2008, in the US. It is used to fully inform potential franchisees about the investment. This document contains major information and has to be given to the franchisee at least 14 days [...]

What is the meaning / definition of Franchise Agreement in the hospitality industry? The franchise agreement is the legal contract that binds a franchisor and franchisee in business. The franchise agreement is a contract that generally consists of terms and clauses that specify as to how a business (franchisor) agrees to provide another party (franchisee) with the company’s brand, services, [...]

What is the meaning / definition of Forecast in the hospitality industry? Any hotel seeking to maximise profits, should look ahead and try to predict a future situation. One way to do this in an organised manner, is to create something called a Forecast. Forecasting can be done at any time of year, by any kind of establishment in the [...]