| A | B |
|---|
| Conversion | A hospitality operation that is purchased, leased or otherwise taken over by another owner or management company. |
| Renovation | Repositioning the enterprise in the marketplace by restructuring the physical facilities. |
| Re-opening | The opening following a renovation or the repositioning of an existing operation without renovating the physical facilities. |
| Master Plan | A schedule of all pre-opening activities that identifies critical completion dates and benchmarks for tracking progress. |
| Soft Opening | The day that paying guests are first served in the operation. |
| Grand Opening | A gala event usually occuring several weeks after the soft opening. |
| Back-planning | Visualizing the desired outcome of a series of actions before taking the necessary steps to achieve that outcome. |
| Purveyor | Suppliers of equipment, operating supplies, raw products, merchandise, etc. |
