A to Z - Glossary Of Hotel Management Technical Terms | Hotel Dictionary | Hotel Jargons | Hotel Lingo | Key Hotel Terms | Front Office Key Terms | F&B Service Key Terms | Kitchen and Food Production Key Terms | Housekeeping Key Terms | All Hotel Department Key Terms and Jargons
The International Air Transport Association (IATA) is a trade association of the world's airlines founded in 1945. IATA has been described as a cartel since, in addition to setting technical standards for the airline, IATA also organised tariff conferences that served as a forum for price-fixing.
|In Room Guest Console|
|In Room Movie System||
Guest room entertainment provided through a dedicated television pay channel. Charges for the use of this in-room entertainment are posted to the appropriate guest folio.
|In-room guest checkout||
In-room guest checkout is a feature of the property management system that allows the guest to use a guest room television to check out of a hotel.
What is an Incentive program in Hotel Industry?
A program offering special recognition and rewards to employees based on their ability to meet certain conditions. These programs vary in structure and design and are a way to award exceptional performance beyond the paycheck.
Travel financed by a business as an employee incentive.
A tour in which specific elements like airfare, hotels, transfers, etc. are included for a flat rate. An inclusive tour rate does not necessarily cover all costs.
Income ratio is the basis for dividing both net income and net loss in a partnership.
Income statement is a report on the profitability of operations, including revenues earned and expenses incurred in generating the revenues for the period covered by the statement.
Income statement is a financial statement showing money earned from sales of goods and services, less expenses incurred to earn that income, for a period of time; sometimes referred to as the profit and loss statement.
Income summary is an account that receives the sums of all sales revenue and expense accounts when they are closed to a zero balance. The final balance of the income summary account will represent net income
|Independent Food Service Operation|