walk

Hotel industry term for the practice of lodging an arriving guest at another hotel (typically for one night), because the reserved accommodation cannot be made available to him or her due to overbooking or some other reason. Usually the erring hotel pays for the overnight expenses of the guest (called 'walked') plus taxi fare and charges for a one or two telephone calls to the walked's home and/or office.

We don't like businesses that are completely reliant on human capital that can walk out the door. We have no rule against it, but you generally won't find us investing in things like investment banks or consulting firms.