Packaging
What is the meaning / definition of Packaging, in the hospitality industry? Packaging is a common marketing strategy that involves offering several products for sale together. The price is usually bundled together so there is no transparence to the individual rates of the separate products. In the hotel industry, this can [...]
Package Rate
What is the meaning / definition of Package Rate in the hospitality industry? A room rate that includes the sales of goods and services. The most common time of package rate is in an all-inclusive hotel where in the purchase of a room also includes a certain amount of drinks, meals [...]
P&L – Profit and Loss Statement
What is the meaning / definition of Profit and Loss Statement in the hospitality industry? Profit and Loss Statement can be abbreviated to P&L. It is a financial report, established on a fixed period of time (from the 1st of January until the 30th of June for example). This document lists [...]
