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About Hospitality Assets

An asset is a physical instance of a product that is tracked in a centralized database and associated with an individual property. End users reserve required items for an event using automated booking for critical resources and one-click booking for noncritical resources.

Unlike function space products and room block products, catering products are booked as assets. When an end user tries to reserve a product, the user is actually reserving assets, not catering products.

Multiple assets can be associated with a single product. For example, the user might create a product record called Piano with the following assets:

  • Yamaha Piano at New York property, Serial # 7896-0987
  • Wurlitzer Piano at London property, Serial # Z765-9876

NOTE:  An asset cannot be created unless a product for that asset has already been defined.

Each catering product is classified by resource type. The three types of resource types are:

  • Critical. A critical product is any resource that is critical to the event; very few products are defined as critical. If, for example, there is only one grand piano for the entire property, the piano might be designated as a critical product. A critical product must be booked in order that an event can be carried out successfully at a property. When a quote is generated for an NPP, the availability check for critical asset inventory is not launched.
  • Non Critical. A noncritical product is defined as any resource that is generally available in sufficient quantities at the property, but must be reserved. An example is a projector.
  • General. General products are common resources that are not difficult to replenish and do not require booking. Examples include tables and chairs, which are available in sufficient quantities at the property and do not need to be booked.

In a typical asset record, the Product field shows the centralized product definition. The Property field shows the property with which the asset is associated. The asset Description field allows the asset description to be customized by property. The Ownership field shows rental and leased assets tracked by owner.

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