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Hotel

Definition of Hotel

Commercial establishment providing lodging, meals, and other guest services. In general, to be called a hotel, an establishment must have a minimum of six letting bedrooms, at least three of which must have attached (ensuite) private bathroom facilities. Although hotels are classified into 'Star' categories (1-Star to 5-Star), there is no standard method of assigning these ratings, and compliance with customary requirements is voluntary. A US hotel with a certain rating, for example, is may look very different from a European or Asian hotel with the same rating, and would provide a different level of amenities, range of facilities, and quality of service. Whereas hotel chains assure uniform standards throughout, non-chain hotels (even within the same country) may not agree on the same standards. In Germany, for example, only about 30 percent of the hotels choose to comply with the provisions of the rules established by the German Hotels & Restaurants association. Although both WTO and ISO have been trying to persuade hotels to agree on some minimum requirements as world-wide norms, the entire membership of the Paris-based International Hotel & Restaurant (IH&RA) opposes any such move. According to IH&RA, to harmonize hotel classification based on a single grading (which is uniform across national boundaries) would be an undesirable and impossible task. As a rough guide: A 1-Star hotel provides a limited range of amenities and services, but adheres to a high standard of facility-wide cleanliness. A 2-Star hotel provides good accommodation and better equipped bedrooms, each with a telephone and attached private bathroom. A 3-Star hotel has more spacious rooms and adds high-class decorations and furnishings and color TV. It also offers one or more bars or lounges. A 4-Star hotel is much more comfortable and larger, and provides excellent cuisine (table d'hote and a la carte), room service, and other amenities. A 5-Star hotel offers most luxurious premises, widest range of guest services, as well as swimming pool and sport and exercise facilities. The Official Hotel Guide (published in the US, and followed world wide) has its own classification scheme that ranks hotels in nine categories as (1) Moderate Tourist Class, (2) Tourist Class, (3) Superior Tourist Class, (4) Moderate First Class, (5) Limited Service First Class, (6) First Class, (7) Moderate Deluxe, (8) Deluxe, and (9) Superior Deluxe.

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Hotel Electronic Distribution Network Association (HEDNA)

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Financial Dictionary

What is Financial Dictionary?

Financial Dictionary is a dictionary or database that contains the meaning of all financial terms. Financial Dictionary has been created to help anyone, interested in understanding financial terms. It is extremely important to know what the financial terms mean when signing on terms and conditions. When availing financial products, you can be easily cheated if you don’t know what you have signed up for. To avoid this, you must be aware on what the terms really mean.

 

Who is this Financial Dictionary for?

We have developed this Financial Dictionary that could be used by anyone for free on our website. We have provided the meanings of almost all the financial terms along with the context in which they can be used. If you have lingering doubts on any financial term, then all you must do is log on to our website and check out the Financial Dictionary.

 

Why do you need to refer a Financial Dictionary?

If you wish to invest in the stock market, then it is extremely important to understand each and every term associated with it. A small misunderstanding can lead to huge losses in a matter of few seconds. It is only wise to know the meaning of all the terms before investing. The most comprehensive Financial dictionary covering all the financial terms. Brought to you by India's largest Free Financial Education company - IndianMoney.com.

 

What happens if I don’t refer a Financial Dictionary?

If you are planning to avail a Home Loan, then it is crucial for you to understand under what conditions your bank is sanctioning the loan. You must understand each and every term written on the loan agreement or else you will end up choosing a lender who charges high interest or with tough terms and conditions. To avoid this, just log on to our website and understand the meaning of financial terms with the Financial Dictionary.

 

Consequences of Misunderstanding a financial term

If you want to invest in a financial product, you must understand various financial terms. Not doing this could mean losses. Many financial intermediaries misguide you to make quick profits. You can avoid this by understanding financial terms and make smart investment decisions.

 

Uses of Financial Dictionary

If you are a Financial Advisor, then it is extremely important to stay updated on the latest financial terms. We at IndianMoney.com update all the new terms used in personal finance in the Financial Dictionary. You can refer and update yourself, to serve clients effectively. This is a double bonanza of increasing your efficiency and fetching clients more money.

 

How does our Financial Dictionary work?

Our Financial Dictionary has three main categories. First being ‘Most Searched Words’. These are the terms/words that are generally used in finance. You can just click on the words to know their meaning. Second category is ‘Recently Added Words’. These are the terms/words that are new to finance but have significance. Third being ‘You Recently Read’. If you have previously used our Financial Dictionary, then the words checked and their meaning would be displayed under this category.

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