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HSP Revenue Management questions with 100% Correct Answers | Verified | Latest Update 2024
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HSP Revenue Management questions with 100% Correct Answers | Verified | Latest Update 2024
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HSP Revenue Managementquestions with 100% Correct
Answers | Verified | Latest Update
2024
Hotels that make the decision to fill their meeting space with local catering groups
do not run the risk of having to turn away potential group catering business. -
✔✔False
Revenue per available square foot (RevPAS) is a measurement of the revenue that
an event generates based on the square footage used compared to the square
footage available. - ✔✔True
The goal of function space revenue management is to maximize the revenue
contribution of each function space for each time period that is available. -
✔✔True
,Managing function space revenue is not more difficult than dealing with transient
guest rooms because of the interaction of function space with room sales and
food & beverage demand. - ✔✔False
Duration control can be managed by refining the definition of duration, reducing
arrival uncertainty, reducing duration uncertainty, and by reducing the amount of
time between functions. - ✔✔True
In the "Duration Uncertainty" section, the paragraph indicates that: many groups,
particularly conventions, do not suffer from high room attrition on the last day or
two of the event. - ✔✔False
Function space managers face two pricing decisions: what price to charge and
how to determine who pays which price. - ✔✔True
,As hoteliers identify ways to increase occupancy, the cost of the efforts plus the
costs associated with additional rooms do not need to be weighed against the
additional revenue that can be achieved by selling those rooms. - ✔✔False
Hotels do not incur costs that require a certain level of staffing at the front office
such as the front desk, phone operators and bell staff regardless of how many
rooms are occupied on a given night. - ✔✔False
Ancillary revenues vary depending on the hotel and the type of services offered,
but in general, ancillary revenues include revenues from movies, Internet access,
business center, mini-bar, laundry, spa services and fitness center. - ✔✔True
The understanding a hotel's ancillary revenues and the identification of additional
ancillary revenues do not bring bring significant benefits to hotels. - ✔✔False
Even when customer segments are different, they bring similar values and have
similar spending habits when traveling. - ✔✔False
, What is the industry term used to describe the sum of prices paid by a business's
customers? - ✔✔Total revenue
Historically, what concept have hospitality managers chiefly used to calculate
their selling prices? - ✔✔Costs
What is the name for the net value achieved by both parties in a business
transaction? - ✔✔Profit
What is the formula used to calculate an owner's ROI? - ✔✔Owner's
investment return / Owner's original 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? - ✔✔Constrained supply
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