Gross Room Sales definition

Gross Room Sales means all revenues and receipts of every kind that accrue from the rental of guestrooms (with no reduction for charge backs, credit card service charges, or uncollectible amounts). Gross room sales includes: (i) no-show revenue, early departure fees, late check-out fees, fees for changes to reservations, and other revenues allocable to rooms revenue under the Uniform System of Accounting for the Lodging Industry, Eleventh Revised Edition, 2014, as published by the Hospitality Financial and Technology Professionals, or any later edition, revision, or replacement that we designate (the “Uniform System”); (ii) resort fees, destination fees, and mandatory surcharges for facilities (although inclusion of such fees or surcharges does not constitute approval by us of such fees and surcharges, which may be limited or prohibited); (iii) fees for changes to reservations and attrition or cancellation fees collected from unfulfilled reservations for guestrooms; (iv) the amount of all lost sales due to the non-availability of guestrooms in connection with a casualty event, whether or not you receive business interruption insurance proceeds; and (v) any awards, judgments, or settlements representing payment for loss of room sales. Gross room sales excludes sales tax, value added tax, or similar taxes on such revenues and receipts. You must account for gross room sales on an accrual basis.
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Gross Room Sales means all revenues and receipts of every kind that accrue from the rental of Guestrooms (with no reduction for charge backs, credit card service charges, or uncollectible amounts). Gross Room Sales includes: (i) no-show revenue, early departure fees, late check-out fees and other revenues allocable to rooms revenue under the Uniform System; (ii) resort fees and mandatory surcharges for facilities (although inclusion of such fees or surcharges does not constitute approval by Franchisor of such fees and surcharges, which may be limited or prohibited); (iii) attrition or cancellation fees collected from unfulfilled reservations for Guestrooms; (iv) the amount of all lost sales due to the non-availability of Guestrooms in connection with a casualty event, whether or not Franchisee receives business interruption insurance proceeds; and (v) any awards, judgments or settlements representing payment for loss of room sales. Gross Room Sales excludes sales tax, value added tax, or similar taxes on such revenues and receipts.
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Gross Room Sales means all sales and receipts of every kind and nature which accrue from the rental of Guest Rooms including, among other items, credit charges, charge backs and uncollectible amounts, but shall not be deemed to include any sales tax, value added tax, or similar taxes collected from patrons or guests. Gross Room Sales shall be accounted for on an accrual basis and in accordance with the Uniform System.
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Examples of Gross Room Sales in a sentence

  • On or before the first day of each full calendar quarter after the Opening Date, Franchisee will provide to Franchisor a monthly estimate of Gross Revenues and Gross Room Sales for each of the next four calendar quarters in a format approved or required by Franchisor.

  • Beginning on the Opening Date, Franchisee will pay Franchisor for each month an amount equal to the percentage of Gross Room Sales stated in Item 12.A of Exhibit A for such month, which Franchisor will use for the Marketing Fund Activities (the “Marketing Fund Contribution”).

  • At Franchisor’s request, for each full or partial month after the Opening Date, Franchisee will prepare and deliver to Franchisor an operating statement containing the information required by Franchisor, including Gross Revenues and Gross Room Sales for such month.

  • Franchisee will account for Gross Room Sales and Gross Revenues on an accrual basis and in compliance with this Agreement.

  • Beginning on the Opening Date, Franchisee will pay Franchisor for each month an amount equal to the percentage of Gross Room Sales stated in Item 11 of Exhibit A for such month (the “Franchise Fees”).

  • In consideration for providing the said Group Services and Benefits, Lotus Inn shall be entitled to one (1%) percent of Gross Room Sales (as defined in the Uniform System).


More Definitions of Gross Room Sales

Gross Room Sales means: (i) gross sales and receipts of every kind that accrue from the rental of Guestrooms (without netting for charge backs, credit card service charges, or uncollectible amounts), including no-show revenue, early departure fees, late check-out fees and other revenues allocable to rooms revenue pursuant to the Uniform System, but not including any sales tax, value added tax, or similar taxes; (ii) resort fees and mandatory surcharges for facilities (although inclusion of such fees or surcharges does not constitute approval by Franchisor of such fees and surcharges, which may be limited or prohibited by Franchisor); (iii) attrition or cancellation fees that are collected from groups that cancel or do not fulfill their guaranteed number of reservations for Guestrooms; and (iv) the amount of all lost revenues and receipts due to the non-availability of Guestrooms, upon which business interruption, loss of income, or other similar insurance proceeds are calculated.
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Gross Room Sales has the meaning given to such term in the Franchise Agreement.
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Gross Room Sales means gross revenues attributable to or payable for rentals of guest rooms at the Property (including all fees charged to guests for water park admission or use, but excluding charges to non-guests for water park admission or use) but excluding: (i) charges to guests for food and beverage, (ii) telephone charges, (iii) security deposits (except as applied or forfeited), (iv) federal, state and municipal excise, sales, occupancy and use taxes collected directly from patrons, guests or users of the Property on rentals of guest rooms at the Property, or similar or equivalent taxes, (v) any cash or credit rebates or refunds paid to patrons or guests for rentals of guest rooms at the Property, (vi) discounts and/or similar deductions for charges by credit card issuers, (vii) charges to guests for internet usage, (viii) charges to guests for premium television channel usage and/or rentals, and (ix) charges to guests for other in-room service usage. Gross Room Sales for any period of time shall be certified to Lender by Borrower as true and correct, and Borrower shall provide to Lender such evidence of Borrower’s calculation of Gross Room Sales as Lender may reasonably require. In addition, Borrower shall certify to Lender the Gross Room Sales attributable to reservations made by Service Provider during such period.
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Related to Gross Room Sales

  • Gross Sales means the sum total of all retail sales of tangible personal property or services as

  • Gross Revenues means all amounts actually collected as rents or other charges for the use and occupancy of the Properties, but shall exclude interest and other investment income of Owner and proceeds received by Owner for a sale, exchange, condemnation, eminent domain taking, casualty or other disposition of assets of Owner.

  • Gross Revenue means all of the earnings and revenues received by the RECIPIENT from the maintenance and operation of the Utility and all earnings from the investment of money on deposit in the Loan Fund, except (i) Utility Local Improvement Districts (ULID) Assessments, (ii) government grants, (iii) RECIPIENT taxes, (iv) principal proceeds of bonds and other obligations, or (v) earnings or proceeds (A) from any investments in a trust, Defeasance, or escrow fund created to Defease or refund Utility obligations or (B) in an obligation redemption fund or account other than the Loan Fund until commingled with other earnings and revenues of the Utility or (C) held in a special account for the purpose of paying a rebate to the United States Government under the Internal Revenue Code.

  • Gross receipts means the total revenue derived from sales, work done, or service rendered.

  • Net Revenues means the difference between:

  • gross tonnage means the gross tonnage calculated in accordance with the tonnage measurement regulations contained in Annex I to the International Convention on Tonnage Measurement of Ships, 1969 or any successor Convention.

  • Sales Revenue means receipts from the sale, lease, or rental of goods, services, or property;

  • Sales Tax Revenues means taxes collected under the Virginia Retail Sales and Use Tax Act

  • Gross Rent means the rent for a set-aside unit, including any applicable utility allowances, in compliance with the rent limits applicable to the property for 2020. Gross rent does include optional fees included in the household’s lease, including but not limited to, washer/dryer, cable, parking, etc., as long as they are included in the lease or addendums to the lease. In addition, when a utility that is purchased from or through a local utility company by the Development, who in turn bills residents for actual consumption of the utility will also be eligible when the applicable utility allowance for the Development includes a deduction for the utility and the household’s lease specifies that the resident is responsible for the utility.

  • Gross Profit means the sum produced by adding to the “net profit” the amount of the Insured “standing charges”, or if there be no “net profit”, the amount of the Insured “standing charges” less such a proportion of any net trading loss as the amount of the Insured “standing charges” bears to all the “standing charges” of the business.