Glossary

The total of cost incurred by a tenant to provide space for operations. It includes net rent, operating costs (outgoings), capital costs, taxes, insurance and depreciation allowances.

Represents occupancy expressed as a percentage of total capacity available during a survey period; e.g. for the period providing that, for establishments closing (other than for seasonal reasons) or opening during the survey period, the denominator of the expression below includes only operating periods. Calculation for room occupancy rate (%) = room nights occupied ÷ [(guest rooms) x (no. of days in the period)] x 100.

Total annual costs involved with owning or operating real estate, e.g. rates, insurance, cleaning, agent fees, etc. (Income tax is not an outgoing).

In relation to land, the owner includes every person who jointly or severally whether at law or in equity:

1. is entitled to the land for an estate of freehold in possession, or
2. is entitled to receive rent or profits thereof, whether as beneficial owner, trustee, mortgagee in possession or otherwise.