Revenue Management Final PASSED Questions and CORRECT Answers
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Course
Revenue Management
Institution
Revenue Management
Revenue Management Final PASSED
Questions and CORRECT Answers
Hair Salons - Correct Answer- Hotel revenue managers face hard supply constraints. In which
industry below are hard constraints also likely to be encountered?
Implemented a differential pricing strategy and allocate the limited sup...
Revenue Management Final PASSED
Questions and CORRECT Answers
Hair Salons - Correct Answer- Hotel revenue managers face hard supply constraints. In which
industry below are hard constraints also likely to be encountered?
Implemented a differential pricing strategy and allocate the limited supply to those market
segments who value the rooms most highly. - Correct Answer- Lisa is the revenue manager of
a 500 room hotel property. Next week-end demand for her rooms will exceed the number of
rooms she has available for sale. Which high demand pricing strategy will optimize revenue
for her property?
Number of seats and number of hours open per week. - Correct Answer- Which two factors
establish a restaurant's weekly customer capacity?
Anti-trust legislation - Correct Answer- What is the name for the laws and regulations aimed
at preventing abusive business behavior or anti-competitive practices?
Cartel - Correct Answer- What is the name used to describe a consortium of independent
organizations formed to limit competition by controlling the production, distribution and
pricing of product or service?
Sherman Antitrust Act - Correct Answer- What is the name of the US legislation that
outlawed all contracts and conspiracies that unreasonably restrain interstate trade?
Sherman Antitrust Act - Correct Answer- What is the name of the US legislation that
prohibits competing hospitality managers from meeting to agree upon the room prices that
will be charged for upcoming events or charged to specific group of customers?
Reference price - Correct Answer- What is the name for the price perceived by consumers to
be the normal or standard price for a product or service?
Discounts are viewed more favorably then surcharges - Correct Answer- What is true about
the way buyers generally view variance in a seller's prices?
, Controller - Correct Answer- What is the name of the hospitality management position
responsible for the accounting functions in a hotel?
A corporate level executive - Correct Answer- To whom would a revenue manager likely
report if consistency across multiple properties was of most importance?
Their hotel's general - Correct Answer- According to the most recent Hospitality Sales &
Marketing Association International (HAMAI) survey, to whom do the largest percentage of
hotel revenue managers report?
Line-level employees - Correct Answer- Which group of employees is most responsible for
implementing the revenue optimization strategies and tactics developed by a revenue
management team?
Regular strategy meetings - Correct Answer- What vehicle do effective revenue managers use
to best develop and evaluate their organizations' pricing and revenue management strategies
and tactics?
They will cause an increase in RevPAR - Correct Answer- What is true about rooms that are
sold at prices below a hotel's a variable operating cost?
RevPOR - Correct Answer- Scott is a revenue manager who calculates the following for his
hotel:
Total (rooms + non-rooms) revenue/ Total Occupied Rooms =?
Complimentary breakfast costs - Correct Answer- What is considered a room-related
occupancy cost?
$50.00 - Correct Answer- At Rachel's hotel the CPOR is $40.00. Her Net ADR Yield
averages 80% and her franchise fees average 5%. What is Rachel's average minimum ADR
sales point?
(GOP This Period -GOP Last Period)/(Total Revenue This Period-Total Revenues Last
Period) - Correct Answer- What is the formula used to calculate flow-through for an
accounting period?
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