100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Revenue Management Final Exam Question & Answers 2024. $13.99   Add to cart

Exam (elaborations)

Revenue Management Final Exam Question & Answers 2024.

 5 views  0 purchase
  • Course
  • CRME - Certified Revenue Management Executive
  • Institution
  • CRME - Certified Revenue Management Executive

Revenue Management Final Exam Question & Answers 2024. 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 ca...

[Show more]

Preview 4 out of 32  pages

  • August 3, 2024
  • 32
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • CRME - Certified Revenue Management Executive
  • CRME - Certified Revenue Management Executive
avatar-seller
Prose1
Revenue
Management
Final Exam
Question &
Answers 2024

What Fis Fthe Findustry Fterm Fused Fto Fdescribe Fthe Fsum Fof Fprices Fpaid Fby Fa Fbusiness's

F customers? F- F(CORRECT FANSWER)-Total FRevenues

,Historically, Fwhat Fconcept Fhave Fhospitality Fmanagers Fchiefly Fused Fto Fcalculate Ftheir

F selling Fprices? F- F(CORRECT FANSWER)-Costs



What Fis Fan Falgebraic Fequivalent Fof Fthe Fformula: FSales F= FCosts F+ FProfit? F- F(CORRECT

F ANSWER)-Profit F= FSales F- FCosts



What Fis Fthe Fname Ffor Fthe Fnet Fvalue Fachieved Fby Fboth Fparties Fin Fa Fbusiness Ftransaction? F-

F (CORRECT FANSWER)-Profit



What Felement Fis Fnot Fpresent Fin Fa Fbarter Feconomy? F- F(CORRECT FANSWER)-Money



What Fis Fthe Fformula Fused Fto Fcalculate Fan Fowner's FROI? F- F(CORRECT FANSWER)-Owner's

F Investment FReturn F/ FOwner's FOriginal FInvestment F= FOwner's FReturn Fon FInvestment



Sandy Fhas F100 Fhotel Frooms Fto Fsell. FThis FSaturday Fnight Fhas Fenough Fcustomers Fto Fsell F125

F rooms Fso Fshe Fwill Fbe Frefusing F25 Frequests Ffor Frooms. FWhat Fis Fthis Fan Fexample Fof? F-

F (CORRECT FANSWER)-Constrained FSupply



Which Findustry Fwas Fthe Ffirst Fto Fuse FYield FManagement Fprinciples? F- F(CORRECT

F ANSWER)-Airline

,What Fis Fthe Findustry Fterm Fused Fto Fdescribe Fthe Fselling Fof Frooms Fwhich Fare Fnot Factually

F available Ffor Fsale? F- F(CORRECT FANSWER)-Overbooking



What Fis Fthe Fformula Fused Fto Fcalculate FAverage FDaily FRate? F- F(CORRECT FANSWER)-Total

F Room's FRevenue F/ FTotal FRooms FSold F= FAverage FDaily FRate



Tashia's Fhotel Fsold F175 Frooms Flast Fnight Fat Fan FADR Fof F$200.00. FHer Fhotel Fhas F250 Frooms.

F What Fwas FTashia's Foccupancy F% Flast Fnight? F- F(CORRECT FANSWER)-70%



Tashia's Fhotel Fsold F175 Frooms Flast Fnight Fat Fan FADR Fof F$200.00. FHer Fhotel Fhas F250 Frooms.

F What Fwas FTashia's FRevPAR Flast Fnight? F- F(CORRECT FANSWER)-$140.00



What Fis Fthe Findustry Fterm Ffor Fthe Faverage Frevenue Fgenerated Fby Feach Foccupied

F guestroom Fduring Fa Fdefined Fperiod Fof Ftime? F- F(CORRECT FANSWER)-RevPOR



What Fis Fthe Fformula Fused Fto Fcalculate FGOPPAR? F- F(CORRECT FANSWER)-(Total FRevenue F-

F Management FControllable FExpenses) F/ FRooms FAvailable Fto FSell F= FGOPPAR



What Fis Fthe Findustry Fterm Ffor Fa Fcustomer Fgroup Fwhich Fcan Fbe Freadily Fidentified Fby Fone

F or Fmore Fcommon Fcharacteristics? F- F(CORRECT FANSWER)-Market FSegment



What Fis Frack Frate? F- F(CORRECT FANSWER)-The Fprice Fof Frooms Fwhen Fno Fdiscounts Fof Fany

F type Fare Foffered

, What Fis: F

Total Fperiod Frevenue F

(Number Fof Favailable Fseats) Fx F(hours Fof Fseat Favailability) F- F(CORRECT FANSWER)-The

F formula Ffor FRevPASH



What Fis Fthe Fterm Fused Fto Fidentify Fa Fmanagement Fphilosophy Fthat Fplaces Fcustomer Fgain

F ahead Fof Fshort-term Frevenue Fmaximization Fin Frevenue Fmanagement Fdecision Fmaking? F-

F (CORRECT FANSWER)-Customer-centric Frevenue Fmanagement



What Fis Fthe Fterm Fused Fto Fdescribe Fthe Fpotential Fcustomers Fto Fwhom Fa Fbusiness's

F marketing Factivities Fand Fmessages Fare Fdirected? F- F(CORRECT FANSWER)-The Ftarget

F market



What Fis Fthe Fterm Fused Fto Fdescribe Fefforts Fundertaken Fto Fencourage Ftravel Fand Ftourism Fto

F a Fspecific Fgeographic Farea For Fattraction? F- F(CORRECT FANSWER)-Destination FMarketing



What Fis Fthe Fname Ffor Fthe Fvalue Fgiven Fup Fby Fa Fbuyer Fand Fa Fseller Fin Fa Fbusiness

F transaction? F- F(CORRECT FANSWER)-Price



Charging Fguests Ffor Fwatching Fa F"Pay-Per-View" Fmovie Fin Ftheir Fhotel Fguestroom Fis Fan

F example Fof Fwhat Ftype Fof Fpricing? F- F(CORRECT FANSWER)-Two-tiered Fpricing

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller Prose1. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $13.99. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

73314 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$13.99
  • (0)
  Add to cart