Exam (elaborations) HSP Revenue Management Exam Questions with 100% Correct Answers Exam (elaborations) HTM 4453 - Revenue Management AHLA Certification Practice Exam Questions with Latest Update Exam (elaborations) Pricing and Revenue Management Terms Exam Questions and Answers Exam (elabor...
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1. Identify which of these IS NOT a positive of using revenue management strategies and tactics: Motivate employees Increase revenues and profitability Serve more guests Increase market share - Answer-Motivate employees 2. The Hurdle Rate is...? The average rate for a given day The lowest ...
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Add to cart1. Identify which of these IS NOT a positive of using revenue management strategies and tactics: Motivate employees Increase revenues and profitability Serve more guests Increase market share - Answer-Motivate employees 2. The Hurdle Rate is...? The average rate for a given day The lowest ...
A benefit of variable pricing within revenue management is the smoothing of demand. A) True B) False - Answer-A) True Revenue management is a set of revenue maximization strategies and tactics that: A) Increase profitability by carefully controlling expenses. B) Focus exclusively on rat...
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Add to cartA benefit of variable pricing within revenue management is the smoothing of demand. A) True B) False - Answer-A) True Revenue management is a set of revenue maximization strategies and tactics that: A) Increase profitability by carefully controlling expenses. B) Focus exclusively on rat...
4 P's that ensure you have an accurate competitive set - Answer-1) Product (number of rooms, open date, hotel type, meeting space, amenities) 2) Proximity (distance, market and tract, location) 3) Pricing (scale, class) 4) Participation (monthly, daily, segmentation, additional revenue) ...
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Add to cart4 P's that ensure you have an accurate competitive set - Answer-1) Product (number of rooms, open date, hotel type, meeting space, amenities) 2) Proximity (distance, market and tract, location) 3) Pricing (scale, class) 4) Participation (monthly, daily, segmentation, additional revenue) ...
Affiliates - Answer-revenues generated by sources other than group rooms and banquets such as exhibitors and associated vendors Bench Rate - Answer-the base room rate that a hotel wants to achieve or sell Best Available Rate - Answer-a floating transient room rate based on demand and current m...
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Add to cartAffiliates - Answer-revenues generated by sources other than group rooms and banquets such as exhibitors and associated vendors Bench Rate - Answer-the base room rate that a hotel wants to achieve or sell Best Available Rate - Answer-a floating transient room rate based on demand and current m...
ADR - Answer-total room revenue/total rooms sold Occupancy % - Answer-total rooms sold/total rooms available for sale RevPAR - Answer-ADR x Occupancy % or total revenue/total rooms available for sale RevPOR - Answer-total revenue/total occupied rooms GOPPAR - Answer-(total rev - mgmt c...
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Add to cartADR - Answer-total room revenue/total rooms sold Occupancy % - Answer-total rooms sold/total rooms available for sale RevPAR - Answer-ADR x Occupancy % or total revenue/total rooms available for sale RevPOR - Answer-total revenue/total occupied rooms GOPPAR - Answer-(total rev - mgmt c...
revenue manager - Answer-individual at a hotel property responsible for optimizing rooms RevPAR inventory - Answer-all guest rooms available to be sold negotiated rates - Answer-special room rate offered for a fixed period of time to a specific hotel client blackout dates - Answer-any day a...
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Add to cartrevenue manager - Answer-individual at a hotel property responsible for optimizing rooms RevPAR inventory - Answer-all guest rooms available to be sold negotiated rates - Answer-special room rate offered for a fixed period of time to a specific hotel client blackout dates - Answer-any day a...
How is the organization of hospitality and tourism business divided ? - Answer-Cost Center - Revenue Center The main Revenue Centers for the hotels... - Answer-Rooms/ Food and Beverage An area of responsibility for which separate revenue and cost information must be collected - Answer-Financia...
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Add to cartHow is the organization of hospitality and tourism business divided ? - Answer-Cost Center - Revenue Center The main Revenue Centers for the hotels... - Answer-Rooms/ Food and Beverage An area of responsibility for which separate revenue and cost information must be collected - Answer-Financia...
achievement factor or rate potential percentage - Answer-The percentage of the rack rate that a hotel actually receives; in hotels not using revenue management software, this factor is generally approximated by dividing the actual average room rate by the potential average rate. Booking lead time...
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Add to cartachievement factor or rate potential percentage - Answer-The percentage of the rack rate that a hotel actually receives; in hotels not using revenue management software, this factor is generally approximated by dividing the actual average room rate by the potential average rate. Booking lead time...
What are the two components of revenue management? - Answer-Supply: the amount of a good or service that a seller is willing and able to sell for an given price at any time. Demand: the amount of a good or service that a purchase is willing and able to buy for any given price at any given time ...
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Add to cartWhat are the two components of revenue management? - Answer-Supply: the amount of a good or service that a seller is willing and able to sell for an given price at any time. Demand: the amount of a good or service that a purchase is willing and able to buy for any given price at any given time ...
accept assignment - Answer-provider accepts as payment in full whatever is paid on the claim by the payer (except for any copayment and/or coinsurance amounts). accounts payable - Answer-amount a business owes creditors and suppliers. accounts receivable - Answer-amount owed to a business for ...
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Add to cartaccept assignment - Answer-provider accepts as payment in full whatever is paid on the claim by the payer (except for any copayment and/or coinsurance amounts). accounts payable - Answer-amount a business owes creditors and suppliers. accounts receivable - Answer-amount owed to a business for ...
CHAPTER 1: What is Rev Management? - Answer- Identify which of these is not a positive of using revenue management strategies and tactics: - Answer-Motivate employees The Hurdle Rate is...? - Answer-The Lowest Rate for a Given Day A benefit of variable pricing within revenue management is t...
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Add to cartCHAPTER 1: What is Rev Management? - Answer- Identify which of these is not a positive of using revenue management strategies and tactics: - Answer-Motivate employees The Hurdle Rate is...? - Answer-The Lowest Rate for a Given Day A benefit of variable pricing within revenue management is t...
Revenue Management is a set of revenue maximization strategies and tactics that: - Answer-Can be used to improve the profitability of certain businesses. When the American Airlines CEO developed yield management, what type of information was crucial to its success? - Answer-Forecasting Which o...
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Add to cartRevenue Management is a set of revenue maximization strategies and tactics that: - Answer-Can be used to improve the profitability of certain businesses. When the American Airlines CEO developed yield management, what type of information was crucial to its success? - Answer-Forecasting Which o...
Revenue management is the act of directing sources of income within the confines of - Answer-capacity, supply and demand GOPPAR takes into account which of the following variables that is not considered in RevPAR? - Answer-Controllable expenses Name revenue optimization strategies - Answer-Mar...
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Add to cartRevenue management is the act of directing sources of income within the confines of - Answer-capacity, supply and demand GOPPAR takes into account which of the following variables that is not considered in RevPAR? - Answer-Controllable expenses Name revenue optimization strategies - Answer-Mar...
revenue management principle - Answer-selling the right product at the right moment for the right price to the right client 3 major forecasts the Loews Chicago utilizes - Answer-budge, rolling forecast, 14 day forecast Index - Answer-the measurement of a hotel's performance relative to an agg...
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Add to cartrevenue management principle - Answer-selling the right product at the right moment for the right price to the right client 3 major forecasts the Loews Chicago utilizes - Answer-budge, rolling forecast, 14 day forecast Index - Answer-the measurement of a hotel's performance relative to an agg...
ADR - Answer-rooms revenue divided by rooms sold chain scales - Answer-hotels are categorized based on their ADRs luxury upper upscale upscale upper midscale midscale economy independents company types - Answer-management, franchise, asset, membership, referral architect, developer, Rea...
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Add to cartADR - Answer-rooms revenue divided by rooms sold chain scales - Answer-hotels are categorized based on their ADRs luxury upper upscale upscale upper midscale midscale economy independents company types - Answer-management, franchise, asset, membership, referral architect, developer, Rea...
True or False: Rooms are extremely profitable. - Answer-True Any serious exploration of hotel room rates and their management must include what basic information? - Answer-Room rate economics: supply and demand True or False: Room rate economics recognizes when supply is held constant, a decre...
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Add to cartTrue or False: Rooms are extremely profitable. - Answer-True Any serious exploration of hotel room rates and their management must include what basic information? - Answer-Room rate economics: supply and demand True or False: Room rate economics recognizes when supply is held constant, a decre...
This formula represents a buyers view of a sales transaction? - Answer-Perceived Value-Selling Price=Personal Profit Effective revenue managers use this to best develop and evaluate their organizations pricing and revenue management strategies and tactics. - Answer-Regular Strategy meetings A ...
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Add to cartThis formula represents a buyers view of a sales transaction? - Answer-Perceived Value-Selling Price=Personal Profit Effective revenue managers use this to best develop and evaluate their organizations pricing and revenue management strategies and tactics. - Answer-Regular Strategy meetings A ...
If a 300-room hotel achieves 70 percent occupancy for April at an ADR of $153 per room, what will room revenue equal? - Answer-$963,900 in January, the 200-room snowbound inn ran a skiers special that resulted in them selling 5,735 rooms during the month. What was the occupancy percentage for the...
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Add to cartIf a 300-room hotel achieves 70 percent occupancy for April at an ADR of $153 per room, what will room revenue equal? - Answer-$963,900 in January, the 200-room snowbound inn ran a skiers special that resulted in them selling 5,735 rooms during the month. What was the occupancy percentage for the...
Revenue Management - Answer-Also Known as Yield Management An essential instrument for matching supply and demand by dividing customers into different segments based on their purchase intentions and allocating capacity to different segments in a way that maximizes a particular's facility's reve...
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Add to cartRevenue Management - Answer-Also Known as Yield Management An essential instrument for matching supply and demand by dividing customers into different segments based on their purchase intentions and allocating capacity to different segments in a way that maximizes a particular's facility's reve...
Main rm industry characteristics - Answer-Fixed capacity; High fixed cost and low marginal sales; High demand fluctuations; Sell products in advance; Perishable inventory; Multiple and clear market segments; Main RM problems - Answer-Multiple-night stay; Multiplier effect; Booking lead tim...
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Add to cartMain rm industry characteristics - Answer-Fixed capacity; High fixed cost and low marginal sales; High demand fluctuations; Sell products in advance; Perishable inventory; Multiple and clear market segments; Main RM problems - Answer-Multiple-night stay; Multiplier effect; Booking lead tim...
Revenue management is - Answer-Selling the right product at the right time to the right customer at the right place at the right price Revenue management techniques - Answer-Differentiation, market segmentation, optimal balance between price and quality, influence availability, choosing the right...
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Add to cartRevenue management is - Answer-Selling the right product at the right time to the right customer at the right place at the right price Revenue management techniques - Answer-Differentiation, market segmentation, optimal balance between price and quality, influence availability, choosing the right...
Demand (consumer) - Answer-The number of potential buyers with the interest and ability to purchase the products sold by a business at the specific price offered. Capital Improvement - Answer-An addition to a property that will enhance its value or increase its useful life. Examples; roof replace...
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Add to cartDemand (consumer) - Answer-The number of potential buyers with the interest and ability to purchase the products sold by a business at the specific price offered. Capital Improvement - Answer-An addition to a property that will enhance its value or increase its useful life. Examples; roof replace...
What are the three areas of revenue management? - Answer-1) Financial management 2) Marketing 3) Operations What is the purpose of revenue management? - Answer-Selling the right product to the customer at the right time for the right price Revenue or yield management is....(4) - Answer--A se...
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Add to cartWhat are the three areas of revenue management? - Answer-1) Financial management 2) Marketing 3) Operations What is the purpose of revenue management? - Answer-Selling the right product to the customer at the right time for the right price Revenue or yield management is....(4) - Answer--A se...
DOSM - Answer-Short for director of sales and marketing. This is the individual responsible for managing the organization's entire sales and marketing effort. Price (noun) - Answer-A measure of the value given up (exchanged) by a buyer and a seller in a business transaction. Price (verb) - An...
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Add to cartDOSM - Answer-Short for director of sales and marketing. This is the individual responsible for managing the organization's entire sales and marketing effort. Price (noun) - Answer-A measure of the value given up (exchanged) by a buyer and a seller in a business transaction. Price (verb) - An...
Revenue Management - Answer-the science and art of enhancing firm revenue while selling essentially the same amount of product Supply - Answer-The amount of a good or service that a seller is willing and able to sell for any given price at any time Demand - Answer-the amount of a good or servi...
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Add to cartRevenue Management - Answer-the science and art of enhancing firm revenue while selling essentially the same amount of product Supply - Answer-The amount of a good or service that a seller is willing and able to sell for any given price at any time Demand - Answer-the amount of a good or servi...
Where does RM work? - Answer-Operates with a relatively fixed capacity Has multiple and clear market segments Has perishable inventory Can sell products well in advance Has high demand fluctuations Has high fixed costs Has low marginal sales costs Two parts of RM: - Answer-1) Room-In...
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Add to cartWhere does RM work? - Answer-Operates with a relatively fixed capacity Has multiple and clear market segments Has perishable inventory Can sell products well in advance Has high demand fluctuations Has high fixed costs Has low marginal sales costs Two parts of RM: - Answer-1) Room-In...
revenue manager - Answer-RM; person who works closely with other managers to set the best prices for each hotel room type depending on competition and time of year supply - Answer-number of available rooms demand - Answer-total number of rooms guests would like to purchase for a given evening ...
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Add to cartrevenue manager - Answer-RM; person who works closely with other managers to set the best prices for each hotel room type depending on competition and time of year supply - Answer-number of available rooms demand - Answer-total number of rooms guests would like to purchase for a given evening ...
Revenue management is a set of revenue maximization strategies and tactics that - Answer-can be used to improve the profitability of certain businesses. When the American Airlines CEO developed yield management, what type of information was crucial to its success? - Answer-forecasting Which of...
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Add to cartRevenue management is a set of revenue maximization strategies and tactics that - Answer-can be used to improve the profitability of certain businesses. When the American Airlines CEO developed yield management, what type of information was crucial to its success? - Answer-forecasting Which of...
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