Cash flow risk The potential that revenue generated may be insufficient to cover operating expenses, debt service, or return on investment.
Central reservation system An independent company or service that charges member hotels a fee each reservation it books for future guests to the hotel or a percentage of the revenue it generates from reservation it books.
Centralization The process of retaining decision-making authority in the hands of high-level managers.
Checkout The procedure that a front desk agent follows when a guest is ready to settle his or her account.
Circulating par stock The number of items that are part of the operating par but are in use and will be reused.
City ledger A subsidiary ledger with an alphabetical listing of guests who have checked out of the hotel and who have an outstanding balance, along with a list of other persons or groups who owe the hotel for services or products provided.
Compensation The monetary and nonmonetary rewards that managers, supervisors, and employees receive for performing tasks essential to the successful operation of a hotel.
Complimentary program Used by casinos for their preferred customers to reward them for a certain level of gambling activity.
Connecting rooms Adjoining rooms with individual entrance doors from the outside and a connecting door between them.
Concierge A person who provides local and regional information on entertainment, sport, amusements, transportation, tours, churches, and babysitting to guests of a hotel.
Concurrent control The monitoring of ongoing operations to ensure that objectives are pursued by employees.
Control The process of evaluating actual performance, comparing performance to goals, and taking action on differences.
Corporate business The most lucrative business of the sales department.
Credit card guarantee A type of reservation by which payment is guaranteed to the hotel should the guest not check in.
Daily operations report A report prepared by the night auditor that summarizes the financial activities of the hotel during a 24-hour period, including revenues, receivables, and operating statistics.
Decentralization The process of distributing authority throughout an organization.
Deep cleaning Intensive cleaning of a guest room or a public area that goes beyond the daily housekeeping of such areas.
Departure report Number of guests checking out on a particular date.
Direct billing Credit provided by a hotel to a guest by which the guest agrees to pay charges incurred upon receipt of the bill that is sent by the hotel at a later date.
Door staff The person who assists guests upon arrival and departure with their transportation and summons the bell staff to assist with the guests’ luggage.
Eco-tourism Balancing tourism development and the preservation of natural and cultural heritages.
Emergency key A key that opens all guest room doors, even when they are double-locked.