![]() ![]() Parties have no control over an Act of God, thus they’re not legally bound to fulfill contract responsibilities.Īctivities: An entertainment organizer in a hotel, resort, or cruise ship.Īdjusted Gross Operating Profit (AGOP): A measure of gross operating profit used to determine how much of your income is minus the hotel management base fee.Īdvance Order: Order placed prior the move-in date for an exhibition.Īdvance Rates: Discounted rates to entice guests to book in advance.Īffinity Group: A group formed around a common interest where members are usually of the same organization.Īgenda: The items or unfoldings that comprise the to-do list or schedule of an event.Īgent: Someone who acts on behalf of another and has been bestowed the power to act. Your complete hotel terms dictionary: AĪbove the Line: Commission received from advertising like T.V., radio, posters, and press.Īcceleration Clause: Contract provision that accelerates deposit payment or increases prepayment in case of default or lack of credit.Īccommodation: 1) Service or space provided to a guest 2) Action taken to enable event participation for the disabledĪct of God: Natural disaster that could not have been predicted at the time of the contract signing. Submitted by professionals in the hotel and planner side of hospitality, these were the most common hotel terms, acronyms, and abbreviations that professionals need to know. In order to successfully conduct business with others outside of your realm of the industry, a mutual understanding of vocabulary is essential - whether you’re an expert event planner or a hotel sales manager, and every role in between. However, each sector has its own lingo that isn’t familiar to all those in the hospitality industry. These teams work together to generate business ending in a boost of revenue and sales –and to put on stunning events. Send us feedback about these examples.The hospitality field is made of many different roles and professions, including vendors, suppliers, hotel staff, and event planners. These examples are programmatically compiled from various online sources to illustrate current usage of the word 'portfolio.' Any opinions expressed in the examples do not represent those of Merriam-Webster or its editors. Victoria Murphy, Town & Country, 20 July 2023 See More Catherine Carlock,, 25 July 2023 The Crown Estate is a vast portfolio of land was historically run and managed by the monarch, who used its profits to pay for public services. Melissa Gira Grant, The New Republic, 25 July 2023 That’s a different approach than many took following the Great Recession of 20, when owners sold off entire office portfolios at once. Matt Grossman, WSJ, 26 July 2023 With Redburn’s discovery of the wedding site, as seen in Smith’s archived portfolio, the story of Lorie Smith and her wedding websites now takes another turn. Bynicholas Gordon, Fortune, 26 July 2023 Compared with previous remarks, Powell today sounded less emphatic about the need to keep interest rates higher for longer as inflation comes back down toward the Fed's 2% target, said Cindy Beaulieu, a portfolio manager at Conning. Maya Kachroo-Levine, Travel + Leisure, 27 July 2023 The value of Temasek’s portfolio dropped to $288 billion, down from $304 billion the year before. Leo Barraclough, Variety, 27 July 2023 On July 1, the pleas of those 8,500 die-hards were answered: Kona Village reopened as the 31st property in the Rosewood Hotels & Resorts portfolio. Ramishah Maruf, CNN, 27 July 2023 Her directing portfolio includes several web series, short films and music videos. Recent Examples on the Web Mondelez’s portfolio includes other household names, such as Ritz, LU, Clif Bar, Tate’s Bake Shop, Milka and Toblerone.
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