What is the meaning / definition of Hotel in the hospitality industry?

This term describes the practice of managing a like an asset, rather than solely as a business, as it is common in hotel management. Hotel asset managers thereby see the hotel as a resource that generates or other returns in multiple ways, not only through providing products and services to its consumers. They are thereby able to generate income streams from parts of the property which are often overlooked. asset managers do not only focus on how best to generate income from hospitality aspects, but might also look to rent parts of the property for other more profitable aspects.

An asset manager acts on the behalf of the owner. His/her duties depend on the hotel, but in general, this person has to manage the global strategy of the hotel, to optimise all the revenues. This person is included in revenues decisions but also on the operation level.

Hotel can be done by a person, department or a depending on the size and type of hotel. In some cases, the asset management of a is done by the accounting department.

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