Hospitality
Free items or services a hotel offers guests, like Wi-Fi, breakfast, or a pool.
Amenities
A person who starts and runs their own business.
Entrepreneur
The element of the promotional mix that involves paid, non-personal communication through mass media.
Advertising
The financial statement that reports revenues and expenses over a period, also called a P&L.
Income statement
When was SEIA established
2025
The busy time of year when a destination gets the most visitors and charges the highest prices.
Peak/high season
The written document outlining a venture's goals, strategy, and financial projections.
Business plan
Name the Four Ps of the marketing mix.
Product, Price, Place, Promotion
Money you owe to someone else, like a loan, is called this.
Debt/liability
These officers almost won regionals twice (they are in the same team)
Linh and Henry
The classification of guests by why they travel — this segment books last-minute and pays full rate, unlike leisure travelers.
Business/corporate travelers
Financing provided to high-growth startups in exchange for equity.
Venture capital
Dividing a broad market into smaller groups with shared characteristics.
Market segmentation
Net income divided by net sales, expressed as a percentage.
Net profit margin
Student Entrepreneurship and Innovation Association
Name two out of four main segments of the hospitality industry
Lodging, food & beverage, travel & tourism, and recreation/entertainment
The output level where total revenue exactly equals total costs.
Break-even point
Name two of the four stages of the product life cycle in order.
Introduction, growth, maturity, decline
The liquidity ratio found by dividing current assets by current liabilities.
Current ratio
This officer broke his elbow when he was 5
Quang Minh Bui
The key lodging metric, abbreviated RevPAR, stands for this.
Revenue per available room
A version of a product with just enough features to be usable by early customers, who can then provide feedback for future product development (abbreviated MVP)
Minimum Viable Product
The distinct benefit that sets a product apart from competitors, abbreviated USP.
Unique selling proposition
Assets = Liabilities + Owner's Equity
First SEIA chapter is....
CISH