Hotel Glossary Terms

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Term Main definition
Vacant

A room status term indicating that the room has been cleaned and inspected, and is ready for the arriving guest.

Synonyms - VA
Vacant Ready

Vacant and ready: The room has been cleaned and inspected and is ready for an arriving guest.

Synonyms - VR, VI, Vacant Inspected
Vacherin

Sweet made of meringue in the form of a nest filled with cream, etc.

Valet

Laundry attendant who receives and delivers guests laundry.

Valet Parking

Valet Parking attendants - Persons who provide parking service for guests automobiles

Valley Period

Also known as off-season, valley periods are times when demand for a property and its services is lowest. Reduced room rates and discounts are often offered during valley periods to attract business.

Synonyms - Off-Season,off season
Variable cost or expense

Variable cost or expense is one that increases or decreases in direct, or linear, fashion with increases or decreases in related sales or revenue.

Variance analysis

Variance analysis is a method of comparing budgeted figures with actual results, breaking differences down into quantity variance and price or cost variance.

Variety Meat

Variety Meat - The non-skeletal meats of the dressed carcass. These include liver, tongue, kidneys, heart etc.

VAT

Value Added Tax (VAT) is A tax that imposes a levy on businesses at every stage of manufacturing based on the value it adds to a product. Each business in the supply chain pays its own VAT and is subsequently repaid by the next link down the chain; hence, a VAT is ultimately paid by the consumer, being the last link in the supply chain, making it comparable to a sales tax. Generally, VAT only applies to goods bought for consumption within a given country; export goods are exempt from VAT, and purchasers from other countries taking goods back home may apply for a VAT refund.

Vegan

Vegan is a person whose diet includes only plant products and excludes all forms of animal products, including meat, fish, poultry, eggs, dairy, gelatin and honey.

Vegan

Vegan - A strict vegetarian who eats no animal products.

Vegetarian

Vegetarian is a person whose diet includes only plant products and animal byproducts, such as eggs and dairy, but excludes meat.

Veloute

Thin white sauce or soup made with veal or chicken stock.

Vendor

Vendor is any firm, such as a manufacturer or distributor, from which a retailer obtains merchandise.