The front office in a hotel is the department responsible for the sale of hotel rooms through systematic method of reservation, followed by registration and assigning rooms to customers. The term sale of rooms may appear misleading to those unfamiliar with the industry. 'Sale here means the use of hotel rooms at a price. A room is termed 'sold' for the day when a guest leases the room for stay in the hotel. 'Room tariff i.e. rate charged per room is computed for a "revenue day" which begins at noon of a particular day and ends at 12.00 hours the next day. In other words room charges are levied for a revenue day, which is between noon and noon. Of course, a room may be sold for half a day as well, for which special rates are applicable. Such rates are referred to as "half day" rates.
The front office in a hotel holds prime importance in view of the basic nature of business of a hotel, i.e. to sell rooms. Revenue collected from the
sole of rooms contributes to more than 50% of the total hotel sales. The profit percentage from the sale of rooms is very high. It has a complementary role of image building, which is the first and last point of contract of every guest. If one looks at each component of a front office role, one could have a better perception of this department. While the title front office is a generic term to include a number of activities, smaller hotels are satisfied to call it simply hotel reception. Thus the role of the front office is thus to reserve, receive, register, assign rooms to guests and act as a continuous source of information to guests during their stay at the hotel.
[...] The payment was negotiated at 14,135,000 Indian rupees based on the foreign exchange rate of 28.27 rupees. Thus Days Inn had to exchange $500,000 for 14,135,000 Indian rupees to pay the construction contractor. However by the time of payment, the exchange rate between the dollar and rupee changed to 28.22 rupees. Days Inn now had to pay $500886 to exchange for the 14,135,000 rupees as agreed upon in the original contract. For this particular transaction Days Inn had to pay $886 more because of the exchange rate fluctuation between the time when the contract was signed and the payable was disbursed. [...]
[...] Restrictions on Dealings in Foreign Exchange 1.21 Except for transactions involving purchase or sale of foreign currency between any person and an authorized money changer, no person, firm or company, other than an authorized dealer, is permitted to enter into transactions involving the buying, acquiring or borrowing from, or selling, transferring or lending to, or exchanging with a person not being an authorized dealer, any foreign exchange except with the general or special permission of Reserve Bank. Anyone dealing in foreign exchange in any form, except to the extent indicated above, will be deemed to be contravening the provisions of the Act. [...]
[...] RESEARCH DESIGN Aim To do an in depth study of the foreign exchange administration in hotels. Objective To acquire knowledge on the principle of foreign exchange administration in hotels . Methodology There are basically two kinds of data to be collected to conduct any study. They are a. Primary data b. Secondary data Primary data This refers to data collected on an individual basis and specialization training in the front office reservation department does this. Secondary data This includes data collected from journals published magazines internet etc. [...]
[...] On the first day of your four day visit to Japan, you exchanged $8000 for Japanese Yen at the rate of $ At the end of the tour, you still have ¥18000 and you decided them to convert them back into US dollars at the foreign exchange service at the international airport. To your surprise, your ¥18000 was converted back to US dollars at the lower bid rate of VI: even though the ask rate has not changed in the past four days. [...]
[...] In hotels which have overseas visitors they also provide a foreign currency exchange service. Business Center In recent years business people have come to expect hotels to provide a wide range of facilities and services to meet their specific needs. Such a range of services may include fax, photocopying and secretarial work, range of services etc. There may also be a demand for translation and interpreting services as well as the hire of equipment such as lap top, computers, portable telephones etc. [...]
using our reader.