Revenue Management for the Hospitality Industry Exam 2/ 93 Q&A
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Course
Revenue Management \\\\
Institution
Revenue Management \\\\
Revenue Management for the Hospitality Industry Exam 2/ 93 Q&A/ .
Travel Wholesaler - Answer: A large-volume travel industry intermediary who sells to other, smaller-volume travel intermediaries
Global Distribution System (GDS) - Answer: A group of companies that electronically connect trave...
Revenue Management for the Hospitality
Industry Exam 2/ 93 Q&A/ 2024-2025.
Travel Wholesaler - Answer: A large-volume travel industry intermediary who sells to other,
smaller-volume travel intermediaries
Global Distribution System (GDS) - Answer: A group of companies that electronically connect
travel-related businesses such as airlines and hotels with those individuals and companies
seeking to buy from them
Internet Distribution System (IDS) - Answer: The group of online reservation systems and travel
portals that utilize the internet to connect travel-related businesses such as hotels with those
individuals and companies seeking to buy from them
Marketing Mix - Answer: The relative proportion of revenue contributed by each of a hotel's
most important guest types (e.g. transient, group, or contact guests)
Page 1 of 12
, Ancillary Revenue - Answer: Nonrooms income. Examples include guest's food and beverage
purchases, meeting room rental, AV-related income, parking, spa charges, and activity fees. Also
known as nonrooms revenue
Table Service - Answer: A restaurant style in which guests are served while seated in a dining
area
Product cost percentage (pricing method) - Answer: A pricing method that relies on product
cost percentage targets when determining menu prices
Product Cost % - Answer: Cost of product sold / All product sales
Pricing Factor (foodservice) - Answer: A constant number used to help determine foodservice
product menu prices
$1.00 / Desired item food cost %
Product Cost: plus (Pricing Method) - Answer: Any of a number of pricing methods that consider
product cost as well as one or more additional costs when determining selling price
Prime Cost - Answer: The sum of the product cost and labor cost required to produce a menu
item
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