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Average check is the amount a single diner will spend on food and beverage, excluding tax and tip. It is
often computed by dividing food and beverage revenue by the total number of diners served.
120 Average Daily Rate (ADR)
Room revenue divided by rooms sold.
121 average daily traffic
Average number of vehicles or people using a thoroughfare over a certain period.
122 average length of stay
The average length of stay in hotels is a statistical calculation often computed by dividing the total
number of nights by the number of guests stayed; as in hospitals, the average length of stay is
computed by the total number of days of care, counting the date of admission but not the date of
discharge, by the number of patients discharged.
123 average rate
Average price charged per unit of goods or services sold. It may refer to interest, prices of goods, units
of utility consumption, etc. In taxation, where ad valorem taxes are levied at progressive rates, it is the
average value of tax paid on the entire body of goods or income on which such taxes are levied.
124 average room rate (per occupied room)
The average room rate in hotels is a statistical calculation often computed by dividing rooms revenue by
the total number of guest rooms occupied.
125 aviation easement
An easement over private property next to airport runways, which limits the height of crops, trees and
structures in an aircraft’s flight path.
126 award
The amount paid for a property taken over by the state for a public purpose.
127 awning
A sheet of cloth, canvas or metal which protrudes over a door or window and provides protection from
the sun and the rain.
1 backfill
To refill ground that had been dug up for construction or development purposes.
2 backup offer
Secondary offer made to protect one’s interests in case the first offer fails.
3 baffle
An acoustic barrier often inserted above a ceiling to provide soundproofing.
4 bai-anu-yard-chai-arkarn (THA)
Building permit.
5 bai-anu-yard-kor-sang (THA)
Construction permit.
6 balance sheet
A report showing the financial position or condition of a business at a given date. Also called Statement
of Financial Position or Statement of Financial Condition.
7 balcony
An area with a wall or bars around it that is joined to the outside wall of a building on an upper level.
8 balloon payment
A repayment of a loan or bond, usually but not necessarily the final repayment, which is larger in
amount than the preceding or earlier installments. This kind of arrangement is referred to as
“ballooning” a loan.
9 bank guarantee (performance guarantee)
A secured promissory note provided by a financial institution on behalf of a contractor or party as a
guarantee of their performance often used in lieu of retention.
10 bankrupt
A situation where the liabilities of a business or an individual are greater than the assets, making it
impossible to meet debts and other outstandings.
11 bare shell
Property that is delivered to buyer without decoration.
12 base rent
The minimum rent for a commercial property without taking into account any add-ons like percentage of
sales/profit that make up the total lease package.
13 base rent abatement
During any period of reconstruction or repair after a major casualty, if the lessee’s ability to conduct
business in the demised premises is materially hindered or impaired, the base rent and any
maintenance charges due from the lessee will abate during the period in which the demised premises is
14 base year
The year which forms the base for all future calculations of rents or values.