Pearson New International Edition International pcl tp indd 1

GLOSSARY
Asset
Item owned by a business, for example; cash on hand, money in checking or other
accounts, money owed to the business, inventories, property, equipment and furnishings.
Atrium
Large, central, and open lobby area of a hotel designed to project an ornate and
spectacular reception for guests and others entering the property.
Attorney
Trained and licensed person who represents others in issues related to laws.
Attrition
Difference between the original room request and the actual purchase of a group. For
example, a group might reserve 100 rooms but use only 50 rooms. A hotel’s standard contract
for group rooms may stipulate that the group must pay an attrition penalty for over-reserving.
Audit
Process of verifying records for correctness and completeness.