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Sample test answers of Revenue Management. It provides good information for the official test (NHL Stenden).
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Operations Design: Revenue ManagementInstitute IHM / Hotel Management
Date
Location
Time
Module Co-ordination
Name of student
Student number Signature
Group code Resit Yes / No
Important notes for the student before taking the test:
Entry to the test will only be granted if you are entitled to take this test
according to the Teaching and Examination Regulations (TER) of IHM.
Place your student card on the left corner of the desk. If you did not bring the
student card, or if you are not entitled to take the test, you will be removed from
the test room. You may be asked for a second type of ID.
Fill in your name and correct student number on the front page and each page of
the test form, if indicated.
For answering the questions only the test paper can be used !!
This test consists of twenty (20) short answer / essay questions.
Be aware that some pages of the test paper can be printed double sided. When
finished raise your hand and remain seated until the invigilator takes in the test.
Sign the attendance list upon handing over the test.
You can follow an objections procedure. If you want to object to any of the test
items, submit your objections within 2 days after the test to the Module
Coordinator.
Good luck!
Information for the test office:
Tick form or open questions?
Open questions
Use of dictionary allowed?
Only the ones provided by IHM
Use of draft paper allowed?
No
Use of other materials (such as calculator) allowed? non-programmable calculator
Operations Design / Revenue Management
, Before making the test:
This test has 18 questions.
All questions need to be answered on the test paper in the space provided. After
each question, there is open space to write your answers. Please write in clear
English. Questions which are not answered will be counted wrong.
Please write your name on the cover page. Also write your name in the box
provided above question 17.
It is not allowed to take TESTS / Scrap paper etc. outside the exam hall.
1. Questions 1 to 12 are related to room revenue management
1. Revenue management is selling the right product, to the right customer, at
the right price, at the right time, in the right place.
Q1: Describe per discipline what revenue management technique will be used to
maximise revenue and optimise profit.
Right customer: segment market (1 point)
Right product: different product and price fencing (1 point)
Right time: forecasting and displacement (1 point)
Right price: optimal balance between P&Q/ cost/value based (1 point)
Right place: distribution management and inventory management per channel
(1 point)
In revenue management, we speak about ‘perishable inventory’ and varying
demand.
Q2: A) What does ‘perishable inventory’ mean?
Q2: B) Explain what demand means in this context.
Q2: C) Give 2 example of “stay control” application.
a. Perishable inventory is defined as products or service that possess the
possibility of spoilage or loss. A hotel room cannot be stored or kept in stock
for times when the demand is high, so a hotel room is not sold today is lost
forever. (2 point)
b. Demand means the amount of good or service a guest is willing and able to
buy for any given price and given time (1 point)
c. Min length of stay, max length of stay, 72hrs cancellation (1 point per correct
answer)
The following information is available for question 3.
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