Hospitality management Study guides, Class notes & Summaries

what is the industry term used to describe the sum of prices paid by a business's customers? -daily receipts -profit -profits less expenses -total revenues -total revenues historically, what concept have hospitality managers chiefly used to calculate their selling prices? -income -revenue -costs -profits -costs what is an algebraic equivalent of the formula: sales=costs+profit? -profit=sales-costs -costs=sales+profits -costs=profit-sales -prof...

FBLA Hospitality Management Exam Questions With Answers...

Revenue Management Final Exam | Updated Question & Answers Graded A + 2023/2024 What is the industry term used to describe the sum of prices paid by a business's customers? Correct Answer Total Revenues Historically, what concept have hospitality managers chiefly used to calculate their selling prices? Correct Answer Costs What is an algebraic equivalent of the formula: Sales = Costs + Profit? Correct Answer Profit = Sales - Costs What is the name for the net value achieved by both ...

HOSPITALITY MANAGEMENT EXAM 1 QUESTIONS AND CORRECT ANSWERS

Hospitality Management & Leadership - Exam 1. Questions and answers 2024 Which of the following components of management best describes grouping similar tasks to create a position to be performed by one person? - Organizing. The concept that many tasks required in the hospitality industry must be performed by people, and these people cannot be replaced by technology, is referred to as - Labor-Intensive. The individual(s) responsible for the work of supervisors in an organization is the ...

This document contains workings, explanations and solutions to the INC3701 Assignment 1 (QUALITY ANSWERS) 2024. For assistance call or us on 0.6.8..8.1.2..0.9.3.4...... Question text Which statement describes sociocultural consciousness? An awareness _____. a. that a person’s life experiences do not shape his/her view of the world b. of one’s reputation in relation to others c. that one’s thoughts emanate from one’s experiences d. that one’s life experiences might be differen...

Intro To Hospitality Management - Food and Beverage Operations (Chapter 5) verified already passed Food and Beverage - correct answer is a term the hospitality industry uses to refer to all food and beverage needs for an event, dining experience or general catering. The food and beverage department within a hotel consists of many areas and personnel that cater to internal or external guests. Food and Beverage Director's Skills and Responsibilities - correct answer - Exceeding guest expect...

Intro To Hospitality Management - Food and Beverage Operations (Chapter 5) Question and answers already passed 2024 Food and Beverage - correct answer is a term the hospitality industry uses to refer to all food and beverage needs for an event, dining experience or general catering. The food and beverage department within a hotel consists of many areas and personnel that cater to internal or external guests. Food and Beverage Director's Skills and Responsibilities - correct answer - Exce...

Lagest hotel chain number of locations - ANSWER-Best Western Largest hotel chain number of rooms - ANSWER-Marriott First Franchise in the US - ANSWER-Ritz Carlton 1907 New York City Management Contract in the US - ANSWER-Responsible for the rapid growth in the hotel industry since the 1970s Management Contracts are the basics Two organizations that rate hotel - ANSWER-American Automobile Association Mobile Travel Guide American Automobile Association - ANSWER-Uses diamond r...

Hospitality Management 371 - Exam 1 Questions with correct answers