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Revenue Management Final Exam – Complete Study Guide
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Revenue Management Final Exam – Complete StudyGuide
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 Right Ans - -total revenues
Historically, what concept have hospitality managers chiefly used to calculate
their selling prices?
-income
-revenue
-costs
-profits Right Ans - -costs
What is an algebraic equivalent of the formula: sales=costs+profit?
-profit=sales-costs
-costs=sales+profits
-costs=profit-sales
-profit=costs-sales Right Ans - -profit=sales-costs
What is the name for the net value achieved by both parties in a business
transactions?
,-revenue
-profit
-income
-expense Right Ans - -profit
what element is not present in a barter economy?
-product exchange
-money
-profit
-sellers Right Ans - -money
what is the formula used to calculate an owner's ROI?
-owner's original investment/owner's investment return=owner's return on
investment
-owner's investment return/owner's return=owner's return on investment
-owner's return on investment/owner's original investment=owner's return
on investment
-owner's investment return/owner's original investment=owner's return on
investment Right Ans - owner's investment return/owner's original
investment=owner's return on investment
Sandy has 100 hotel rooms to sell. This Saturday night has enough customers
to sell 125 rooms so she will be refusing 25 requests for rooms. What is this
an example of?
-distribution channels
-differential pricing
,-constrained supply
-yield management Right Ans - -constrained supply
which industry was the first to use yield management principles?
-lodging
-food service
-airline
-catering Right Ans - -airline
what is the industry term used to describe the selling of rooms which are not
actually available to sale?
-overbooking
-yield management
-revenue management
-maximum ADR Right Ans - overbooking
what is the formula used to calculate average daily rate?
-owner's investment/occupancy rate=average daily rate
-rooms available for sale/occupancy rate=average daily rate
-total rooms sold/total room's revenue=average daily rate
-total room's revenue/total rooms sold=average daily rate Right Ans - total
room's revenue/total rooms sold=average daily rate
Tashia's hotel sold 175 rooms last night at an ADR of $200.00. Her hotel has
250 rooms. What was Tashia's occupancy % last night?
, -87.5%
-70%
-114.3%
-80% Right Ans - 70%
Tashia's hotel sold 175 rooms last night at an ADR of $200.00. Her hotel has
250 rooms. What was Tashia's RevPAR last night?
-$140.00
-$35.00
-$125.00
-$160.00 Right Ans - $140.00
what is the industry term for the average revenue generated by each occupied
guestroom during a defined period of time?
-REVPOR
-REVPASH
-REVPAR
-REVAVE Right Ans - REVPOR
what is the formula used to calculate GOPPAR?
-(total revenue - management controllable expenses) / rooms sold
-rooms available to sell / (total revenue - management controllable expenses)
-rooms available to sell / total management controllable expenses
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