What Is Hotel Folio?

The Hotel Accounting System

The unique nature of guest accounting makes hotel accounting departments use terms that are not used in other industries. Accounting terms related to the management of guest payments, charges and disputes are used in the hotel industry. The account is a record of credits and debits associated with a guest or group and can be organized by sections.

There are three common divisions for room charges, food and beverage charges and miscellaneous charges. The hotel room rate may be paid by the group while the individuals are responsible for their additional charges, which is why multiple folios are used with convention guest accounts. Guests with a credit card on file are able to sign for charges to their rooms.

Guests sign a receipt at the point of sale to authorize the charge to be paid by the method of payment on the account. The charge is posted to the appropriate folio. Cash or credit are other methods of payment for services.

Guests without credit cards on file are considered cash only guests and do not have room charging privileges. A late charge occurs when a guest signs for a room after they check out. Breakfast and manual postings are common late charges.

Hotel Management Jobs in Singapore

Hotels across the world have separate ownership and management entities in order to maximize their effectiveness. Management companies focus on the day-to-day operations while owners focus on the real estate piece. The starting salary for an entry-level hotel manager is $30,000, while the average hotel manager salary is $50,000.

Some hotel general managers can make upwards of $100,000 per year. Hotel management covers the operational aspects of a hotel. Hotel management requires a lot of skills, including general business and marketing skills, people management and leadership skills, financial prowess, customer service skills, and a solid understanding of each hotel department, like the front desk and housekeeping.

Hotel management involves a wide variety of skills, patience, willingness to work long hours, and passion for the industry, which can be challenging for a career in this field. Hotel managers find hotel management to be a fulfilling career which allows them to meet interesting people, work all over the world, and create memorable experiences for guests. If you want to jump start your career in hotel management, you can either work your way up through hotel jobs to become a hotel manager or you can get a degree in hotel management.

Account Settlement in a Hotel

An account is a form of financial data. It is a record of charges and payments. A charge or payment is posted to the account.

A charge that is posted to a customer is called a debit, and a payment is called a credit. The amount of the debit is added to the account when it is posted. A guest account is used to record financial transactions between a guest and the hotel.

It is created when guests make reservations. The front office usually seeks payment for charges during the departure and settlement stage of the guest cycle. The guest folios in a manual system have a series of columns for listing the entries accumulated during the stay.

The closing balance is carried forward as the opening balance of the next day, after the business day has ended. Account settlement involves bringing the account balance to zero and is a method of collection of payment. An account can be zero balance if a cash payment is made in full or if a transfer is made to an approved credit card account.

The Hilton Family HSIA Pilot System

The hotel is notified of the pending arrival when the guest checks in remotely. The front desk at the hotel completes all the pre-arrival and check-in processes so that the guest's key card and registration packet are ready for their arrival. Guests who arrive at the hotel with a check-in receipt will be given a room key and welcome packet at the front desk.

In three months, the pilot kiosks were deployed in more hotels and the technology was utilized as an enabling factor. There are now kiosks in seven hotels. The company is planning to install check-in kiosks in 45 hotels and 100 kiosks across all brands by the end of the year.

The company owned and managed metropolitan-area and airport hotels will be the focus of deployment. The Hilton Family is going to install HSIA in all of its 2,200+ hotels by the end of the fourth quarter, in one of the most aggressive efforts within the hotel industry. The company has achieved installation in more than 1,995 hotels, or roughly 90 percent of all of its hotels, including wireless in most public spaces.

The Size, Function and Cost of a Hotel Operations

The size, function, complexity, and cost of a hotel operation can vary. Major hotels and major companies have standards to classify hotel types. The highest level of personalized service, such as concierge, room service, and clothes pressing staff, can be found at an upscale full-service hotel facility.

Full-service hotels often have upscale full-service facilities with many full-service accommodations, an on-site restaurant, and a variety of on-site amenities. Boutique hotels are smaller independent hotels that have upscale facilities. Timeshare and destination clubs are a type of property ownership that involves ownership of an individual unit of accommodation.

A motel is a small lodging with direct access to individual rooms from the car park. Boutique hotels are usually small and intimate. The Ritz Hotel in London is one of the hotels that entered the public consciousness through popular culture.

Some hotels are built to be destinations in themselves. International luxury hotels offer a wide range of services, from full-service accommodations to professional service in major capital cities. Depending on the country and local classification standards, international luxury hotels can be classified into two categories: a Five Diamond rating and a Five Star rating.

The Ritz-Carlton is one of the examples brands. A lifestyle luxury resort is a hotel that appeals to a guest with a lifestyle or personal image. They are classified as luxury.