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Revenue Management Final Exam Questions with 100% Correct Answers
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Revenue Management Final Exam Questions with 100% Correct Answers
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Revenue Management Final ExamQuestions with 100% Correct Answers
Anti-trust legislation - ✅✅What is the name for the laws and regulations
aimed at preventing abusive business behavior or anti-competitive practices?
Cartel - ✅✅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 - ✅✅What is the name of the US legislation that outlawed all
contracts and conspiracies that unreasonably restrain interstate trade?
Sherman Antitrust Act - ✅✅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 - ✅✅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 - ✅✅What is true
about the way buyers generally view variance in a seller's prices?
, Controller - ✅✅What is the name of the hospitality management
position responsible for the accounting functions in a hotel?
A corporate level executive - ✅✅To whom would a revenue manager likely
report if consistency across multiple properties was of most importance?
Their hotel's general - ✅✅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 - ✅✅Which group of employees is most responsible
for implementing the revenue optimization strategies and tactics developed
by a revenue management team?
Regular strategy meetings - ✅✅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 - ✅✅What is true about rooms that
are sold at prices below a hotel's a variable operating cost?
RevPOR - ✅✅Scott is a revenue manager who calculates the following for
his hotel:
Total (rooms + non-rooms) revenue/ Total Occupied Rooms =?
Complimentary breakfast costs - ✅✅What is considered a room-
related occupancy cost?
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