Revenue management final/ 121 Quizzes with Definitive Solutions.
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Course
Revenue management
Institution
Revenue Management
Revenue management final/ 121 Quizzes with Definitive Solutions.
ADR formula - Answer: Total Rooms Revenue / Total Rooms Sold
Value proposition - Answer: when a seller communicates to a buyer a description of a product to be sold and the price at which that product will be sold
Owners’ ...
Revenue management final/ 121 Quizzes with
Definitive Solutions.
ADR formula - Answer: Total Rooms Revenue / Total Rooms Sold
Value proposition - Answer: when a seller communicates to a buyer a description of a product
to be sold and the price at which that product will be sold
Owners’ ROI formula - Answer: Owners Investment Return/ Owner's Original Investment
Profit - Answer: net value achieved by both parties in a business transaction
GOPAR formula - Answer: Total revenue - Management Controllable Expenses / Rooms
Available to sell
Page 1 of 14
, Destination marketing - Answer: used to describe efforts undertaken to encourage travel and
tourism to a specific geographic area or attraction
What is the fundamental assumption upon which the law of supply is based? - Answer: The
higher the demand for a product, the more of it will be produced by sellers
What must be true if a product is to continue creating and selling products? - Answer: Revenue
must exceed costs
T/F: Unit costs will vary based upon how high or low an item is priced? - Answer: True
Sandy has 100 hotels 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? - Answer: Constrained
supply
What is an algebraic equivalent of the formula: Sales = Costs + Profit? - Answer: Profit = Sales -
Costs
Price - Answer: Value given up by a buyer and seller in a business transaction
Cost Accounting - Answer: the specialized branch of accounting that focuses on recording and
analyzing the expenses incurred by an organization
Rack rate - Answer: the price of rooms when no discounts of any type are offered
RevPOR definition - Answer: average revenue generated by each occupied guests room during a
period of time
Costs - Answer: What hospitality managers used to calculate their selling price
Page 2 of 14
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