TYPES OF SPIRITS:
• Currently the most popular spirit throughout the world
• Originated in Russia and Poland
• Made from any carbohydrate, but usually produced by grains such as rye, corn, or wheat. Also made from produce such as potatoes or beets (beetroot)
• A neutral spirit: mostly colorless and tasteless
• Usually between 80 and 110 proof, but most vodkas are 80 proof
• Flavored vodkas: vodka with additional ingredients added after distillation. Some popular flavored vodkas are citrus, vanilla, chocolate, pepper, and berry.
Under hotel lease agreements, the company will lease a hotel building from a property owner or other partner and are entitled to the benefits of, and carry the risks associated with, operating the hotel. They derive revenue primarily from room sales and food and beverage sales in restaurants, bars and banqueting.
Under hotel franchise agreements, a company authorise a third-party hotel operator or property owner to operate a hotel under its brand. Accordingly, under such agreements, they neither own, lease nor manage the hotel. They derive revenue from a brand royalty or licensing fee which, under most of their franchise agreements, is based on a percentage of total room revenue generated by a hotel. In addition, they collect marketing fees based on total room revenue and reservation fees based on the number of reservations made.
Under hotel management agreements, management services are provided for third-party hotel proprietors. The Management Company derive revenue primarily from base fees determined as a percentage of total hotel revenue and incentive management fees defined as a percentage of the gross operating profit or adjusted gross operating profit of the hotel operations.