Hospitality Facilities Management Midterm Study Guide and PracticeHospitality
Questions.pdf
Facilities Management Midterm Study Guide and PracticeHospitality
Questions.pdf
Facilities Management Midterm Study Guide and Practice Questions.pdf
Hospitality Facilities
Management Midterm
Study Guide and Practice
Questions
Guidehttps://www.stuvia.com/dashboard!@_)#*)(@$)($@*($@)($@*_
Hospitality Facilities Management Midterm Study Guide and PracticeHospitality
Questions.pdf
Facilities Management Midterm Study Guide and PracticeHospitality
Questions.pdf
Facilities Management Midterm Study Guide and Practice Questions.pdf
,hospitality facilities management midterm.pdf hospitality facilities management midterm.pdf hospitality facilities management midterm.pdf
Terms in this set (164)
what is the role of facilities in the hospitality industry -destination resorts facilities themselves are attraction
-unseen facilities like indoor air conditioning, clean water for bathing and
swimming
-elimination of unwanted sounds
-protecting guests (safety)
-help define industry and provide identity in marketplace (characteristic roof
shapes, colors, trademarks)
-amount of revenue generated at the property (presence of rooms and rec
spaces)
-provide owners a return on investment
what are the 2 ways facilities provide owners with a 1. they are the location where the business generates operating profit
return on investment 2. hospitality firms enjoy a portion of their "return" in the change in market value
of their property. the return considerations resemble those of real estate, an
industry where facilities play a major role
what are the costs associated with facilities Initial costs (development and construction)
Operating costs
Renovation costs
hospitality facilities management midterm.pdf hospitality facilities management midterm.pdf hospitality facilities management midterm.pdf
,hospitality facilities management midterm.pdf hospitality facilities management midterm.pdf hospitality facilities management midterm.pdf
costs of development and construction -represents a commitment of capital by an owner who naturally expects a return
on this investment
-A facility constructed with appropriate quality and good budget control should
have predictable costs for maintenance, operation, and renovation
the expected return on investment is driven by what 2 1. operating profit (from sale of rooms, f&b, meeting services)
elements? 2. real estate appreciation
to provide both types of return how much the facility be in a manner that maximizes operating profit potential and real property
operated and maintained? appreciation
what are the 2 principal cost entries on the operating 1. the property operation and maintenance (POM)
(income) statement pertaining to facilities operation? 2. utilities accout
what is the larger of the 2 cost entries? what % do hotels POM typically larger, 7-9%
typically pay of revenue for these 2 items?
what does the POM account include all labor and fringe benefit costs in the facilities department, maintenance
supplies and expendables, all contract maintenance costs
_______ are usually about one half of the POM expenditure labor and fringe benefit costs
hospitality facilities management midterm.pdf hospitality facilities management midterm.pdf hospitality facilities management midterm.pdf
, hospitality facilities management midterm.pdf hospitality facilities management midterm.pdf hospitality facilities management midterm.pdf
what does the utilities account include electricity, fuel, steam, water/sewer
what is the major element of the utilities expenditure? electricity (over half of total utility costs) next highest cost is water/sewer
what is the next highest cost?
highest absolute cost of POM initial construction costs
what is CapEx? includes not simply the replacement of wear and tear, obsolescence, regulatory requirements such as Americans with
worn-out furniture, finishes, and soft goods.. but must Disabilities Act and life safety, franchise product demands, changing technology,
also cover..... market demand for product change, and replacement and renovations of
building components and heavy equipment
Historically, management contracts for lodging 3-4%, reserve for replacement or CapEx
properties called for ____ percent of revenue to be
placed in a "_______" or _____ account
capex can range from near ____ to as much as ____ % of zero, 30%
reevnue in a given year
hospitality facilities management midterm.pdf hospitality facilities management midterm.pdf hospitality facilities management midterm.pdf
Questions.pdf
Facilities Management Midterm Study Guide and PracticeHospitality
Questions.pdf
Facilities Management Midterm Study Guide and Practice Questions.pdf
Hospitality Facilities
Management Midterm
Study Guide and Practice
Questions
Guidehttps://www.stuvia.com/dashboard!@_)#*)(@$)($@*($@)($@*_
Hospitality Facilities Management Midterm Study Guide and PracticeHospitality
Questions.pdf
Facilities Management Midterm Study Guide and PracticeHospitality
Questions.pdf
Facilities Management Midterm Study Guide and Practice Questions.pdf
,hospitality facilities management midterm.pdf hospitality facilities management midterm.pdf hospitality facilities management midterm.pdf
Terms in this set (164)
what is the role of facilities in the hospitality industry -destination resorts facilities themselves are attraction
-unseen facilities like indoor air conditioning, clean water for bathing and
swimming
-elimination of unwanted sounds
-protecting guests (safety)
-help define industry and provide identity in marketplace (characteristic roof
shapes, colors, trademarks)
-amount of revenue generated at the property (presence of rooms and rec
spaces)
-provide owners a return on investment
what are the 2 ways facilities provide owners with a 1. they are the location where the business generates operating profit
return on investment 2. hospitality firms enjoy a portion of their "return" in the change in market value
of their property. the return considerations resemble those of real estate, an
industry where facilities play a major role
what are the costs associated with facilities Initial costs (development and construction)
Operating costs
Renovation costs
hospitality facilities management midterm.pdf hospitality facilities management midterm.pdf hospitality facilities management midterm.pdf
,hospitality facilities management midterm.pdf hospitality facilities management midterm.pdf hospitality facilities management midterm.pdf
costs of development and construction -represents a commitment of capital by an owner who naturally expects a return
on this investment
-A facility constructed with appropriate quality and good budget control should
have predictable costs for maintenance, operation, and renovation
the expected return on investment is driven by what 2 1. operating profit (from sale of rooms, f&b, meeting services)
elements? 2. real estate appreciation
to provide both types of return how much the facility be in a manner that maximizes operating profit potential and real property
operated and maintained? appreciation
what are the 2 principal cost entries on the operating 1. the property operation and maintenance (POM)
(income) statement pertaining to facilities operation? 2. utilities accout
what is the larger of the 2 cost entries? what % do hotels POM typically larger, 7-9%
typically pay of revenue for these 2 items?
what does the POM account include all labor and fringe benefit costs in the facilities department, maintenance
supplies and expendables, all contract maintenance costs
_______ are usually about one half of the POM expenditure labor and fringe benefit costs
hospitality facilities management midterm.pdf hospitality facilities management midterm.pdf hospitality facilities management midterm.pdf
, hospitality facilities management midterm.pdf hospitality facilities management midterm.pdf hospitality facilities management midterm.pdf
what does the utilities account include electricity, fuel, steam, water/sewer
what is the major element of the utilities expenditure? electricity (over half of total utility costs) next highest cost is water/sewer
what is the next highest cost?
highest absolute cost of POM initial construction costs
what is CapEx? includes not simply the replacement of wear and tear, obsolescence, regulatory requirements such as Americans with
worn-out furniture, finishes, and soft goods.. but must Disabilities Act and life safety, franchise product demands, changing technology,
also cover..... market demand for product change, and replacement and renovations of
building components and heavy equipment
Historically, management contracts for lodging 3-4%, reserve for replacement or CapEx
properties called for ____ percent of revenue to be
placed in a "_______" or _____ account
capex can range from near ____ to as much as ____ % of zero, 30%
reevnue in a given year
hospitality facilities management midterm.pdf hospitality facilities management midterm.pdf hospitality facilities management midterm.pdf
