Pearson New International Edition International pcl tp indd 1

FRONT OFFICE SEMANTICS
Hotel occupancy rate:
Ratio of guestrooms sold (including complimentary rooms) to guestrooms avail-
able for sale in a given time period. Always expressed as a percentage, the formula for occupancy rate
is as follows:
Number of guestrooms sold 
⫼
Number of guestrooms available
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Globalization. Globalization has affected the lodging industry dramatically,
because it influences the extent to which people travel within a country and
around the world. It is not only the economy of the country where lodging
OVERVIEW OF THE LODGING INDUSTRY
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properties are located, but the economies of countries worldwide, that are play-
ing an increasingly greater role in the financial success of the properties.
FRONT OFFICE SEMANTICS
Globalization:
Condition in which countries throughout the world and communities within them are
becoming increasingly interrelated.
•
Terrorism and safety. Fear of travel after the attacks on the World Trade
Center and the Pentagon on September 11, 2001, and worldwide concerns
about terrorism have brought safety issues to the forefront of every segment of
the hotel industry. The issue of terrorism, though beyond hoteliers’ control, will
be of significant concern for the foreseeable future.