Similar to a forum except the conduct is more formal.There is less audience participation than a forum.
The seminar format tries to get away from the idea of a presenter or presenters addressing an audience from a platform. It usually involves much participations, much give-and-take, a charing a knowledge and experience by all.
The 4P’s are:PriceProductPlacePromotion
An event held in conjunction with another meeting, such as a convention.
Steps of a marketing plan
1- Conducting market research2- Selecting target markets & positioning your property3- Establishing objectives and action plans4- Reviewing & monitoring the marketing plan
Prioritizing of accounts based upon their individual profit potential
Meetings held during incentive trips given to employees, distributors, and dealers as a reward for top performance.
Meetings held to update pesonnel in new company policies, methods or procedures. Usually fairly small in size.
Insurance company meetings
Most company use insurance
contacting potential clients in a concentrated area over a brief period of time used for both reacting and qualifying new prospects
Convention and visitors bureau
Attention, Interest, Desire, ActionGet people attention, make them interest, let them desire, make them take action
Print media placement
top right corner
food prepared tableside on cart or a gueridon.
Food prepared in kitchen, served from platters on to guests plates.
Guests serve themseves from an array of choices.
Most common form of banquet service, Food is prepared in the kitchen and presented on guest plates.
First course on tables when guest arrives
A la carte service
Guest have choice of entrees
Is to purchase advertising space or time from a specific media company for a limited amount of time.
Convention billing stage
Signed contract, few weeks before convention, at the begining of the convention, at the convention, before you leave the convention
Protect both planners and hotel
Methods of making hotel reservations
A summary of all group’s activities, billing instructions, key attendees, recreational arrangements, arrival and departure patterns, and other important information.
;;The deadline for holding the number of guestrooms booked by a group(The last day a meeting attendy can buy a guestroom from the room block reserved for the meeting)
Banquet event order:A form that provides a detailed breakdown of a single event
Contact personType of functionTime of eventTotal number required including set up and break down# of attendeesSet up requirementsRate charged
Chairs set up in rows facing head, stage or speaker.Number of aisles may vary, some varietions areV-set up and semicircular.
Also called auditorium.
School or Classroom Set up
Table 6 feet by 18 inches are lines up in rows on each side of a good sized center aisle. Usually 6 chairs to two tables. All tables and chairs;face the head table. Variations are V-shape and perpendicular style
;;;Beverage plan for banquets or other funtions in which the guest do not pay for drinks; the host is charged eitherby the drink or by the bottle.
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Step1- Announce the total owed by the guest before accepting paymentStep2- Place the currency in a place visible to the guestStep3- State the value of the paymentStep4- Verbally count the change upward, from the smalliest coin t the largest denominationStep5- Place the change directely into guest’s handStep6- After the guset has acknowledged the correct change has been received, place the bill in the cash drawer.
Storing cash securely
1-Restrict access to cash drawers2-Keep cash drawers closed when not in use3-Keep cash drawers locked when unattended4-Store very large bills in a secure place, such as under the cash drawer or in a drop safe5-Move cash, checks, and credit card receipts to a secure safe at regular intervals6-Count money and payment card receipts from servers at the shift’s end7-Store money in the safe in counted-out cash register drawers or durable pouches
Tracking and collecting receivable 4 steps
1- Record receivables accurately2- Generate bills and invoices promptly3- Collect delinquent accounts effectively4- Record, store, and deposit payments
Recorded amount of money owed for a specific amount of time tipically 30, 60,90;;;;1- Record the total amount of money owed2- Record the lenght of time the money has been owed3- Indicate the percentage of money owed for less than thirty daysthirty to sixty dayssixty to ninety daysMore than ninety daysDocument when the report was generated
Controllable Costs are directly controlled by management such as labor, Cleaning supplies and food.;Noncontrollable costs are not directly controlled by management such as rent payments, insurance premiums, costs for licences, tax assessments
Fixed, Variable and Semi-variable costs
;Cost that remains the same regardless of variations in sales volume such as rent, garbage pick up.
;Variable cost increase and decrease in direct proportion to sales exple: Food, beverage, utilities.;Semi-variable cost will increase;or decrease;with change in;sales volume, but not in direct proportion such as;rent, utilities
What is an operating budget?
A financial plan that is often prepared monthly but that can be develop for longer or shorter period of time.;It lists-An estimate of revenue- An estimate of expenses-An estimate of profit (or less) for the period
hourly employees, bell person,food server, room attends, door attendants, group function and banquets
Reasons for budget development
1- To provide a standard for comparison essential for good control2- To allow management to anticipate and prepare for future business conditions3- To help managers self-evaluate the organization and its progress toward financial objectives
Forecasting sales revenue
The first step in creating an operational budget is to forecast revenues.Forecasted revenues are based upon:The number of guests to be servedThe amount each guest will spend
Forecasting sales revenue sources
Historic sales reportsHistoric production recordsCurrent sale trends;Sales average
What is a profit ; loss report
A profit ; loss report also called income statement is a management tool that compares expected or budgeted results. It;contains a summary of sales information.Contains a summary of expense information