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Revenue Management Final Exam Question & Answers 2024.
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Revenue Management Final Exam Question & Answers 2024. what is the industry term used to describe the sum of prices paid by a business's customers? -daily receipts -profit -profits less expenses -total revenues -total revenues historically, what concept have hospitality managers chiefly used to ca...

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  • August 3, 2024
  • 32
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • revenue management final exam question answers 2

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  • CRME - Certified Revenue Management Executive
  • CRME - Certified Revenue Management Executive

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Revenue
Management
Final Exam
Question &
Answers 2024

What Fis Fthe Findustry Fterm Fused Fto Fdescribe Fthe Fsum Fof Fprices Fpaid Fby Fa Fbusiness's

F customers? F- F(CORRECT FANSWER)-Total FRevenues

,Historically, Fwhat Fconcept Fhave Fhospitality Fmanagers Fchiefly Fused Fto Fcalculate Ftheir

F selling Fprices? F- F(CORRECT FANSWER)-Costs



What Fis Fan Falgebraic Fequivalent Fof Fthe Fformula: FSales F= FCosts F+ FProfit? F- F(CORRECT

F ANSWER)-Profit F= FSales F- FCosts



What Fis Fthe Fname Ffor Fthe Fnet Fvalue Fachieved Fby Fboth Fparties Fin Fa Fbusiness Ftransaction? F-

F (CORRECT FANSWER)-Profit



What Felement Fis Fnot Fpresent Fin Fa Fbarter Feconomy? F- F(CORRECT FANSWER)-Money



What Fis Fthe Fformula Fused Fto Fcalculate Fan Fowner's FROI? F- F(CORRECT FANSWER)-Owner's

F Investment FReturn F/ FOwner's FOriginal FInvestment F= FOwner's FReturn Fon FInvestment



Sandy Fhas F100 Fhotel Frooms Fto Fsell. FThis FSaturday Fnight Fhas Fenough Fcustomers Fto Fsell F125

F rooms Fso Fshe Fwill Fbe Frefusing F25 Frequests Ffor Frooms. FWhat Fis Fthis Fan Fexample Fof? F-

F (CORRECT FANSWER)-Constrained FSupply



Which Findustry Fwas Fthe Ffirst Fto Fuse FYield FManagement Fprinciples? F- F(CORRECT

F ANSWER)-Airline

,What Fis Fthe Findustry Fterm Fused Fto Fdescribe Fthe Fselling Fof Frooms Fwhich Fare Fnot Factually

F available Ffor Fsale? F- F(CORRECT FANSWER)-Overbooking



What Fis Fthe Fformula Fused Fto Fcalculate FAverage FDaily FRate? F- F(CORRECT FANSWER)-Total

F Room's FRevenue F/ FTotal FRooms FSold F= FAverage FDaily FRate



Tashia's Fhotel Fsold F175 Frooms Flast Fnight Fat Fan FADR Fof F$200.00. FHer Fhotel Fhas F250 Frooms.

F What Fwas FTashia's Foccupancy F% Flast Fnight? F- F(CORRECT FANSWER)-70%



Tashia's Fhotel Fsold F175 Frooms Flast Fnight Fat Fan FADR Fof F$200.00. FHer Fhotel Fhas F250 Frooms.

F What Fwas FTashia's FRevPAR Flast Fnight? F- F(CORRECT FANSWER)-$140.00



What Fis Fthe Findustry Fterm Ffor Fthe Faverage Frevenue Fgenerated Fby Feach Foccupied

F guestroom Fduring Fa Fdefined Fperiod Fof Ftime? F- F(CORRECT FANSWER)-RevPOR



What Fis Fthe Fformula Fused Fto Fcalculate FGOPPAR? F- F(CORRECT FANSWER)-(Total FRevenue F-

F Management FControllable FExpenses) F/ FRooms FAvailable Fto FSell F= FGOPPAR



What Fis Fthe Findustry Fterm Ffor Fa Fcustomer Fgroup Fwhich Fcan Fbe Freadily Fidentified Fby Fone

F or Fmore Fcommon Fcharacteristics? F- F(CORRECT FANSWER)-Market FSegment



What Fis Frack Frate? F- F(CORRECT FANSWER)-The Fprice Fof Frooms Fwhen Fno Fdiscounts Fof Fany

F type Fare Foffered

, What Fis: F

Total Fperiod Frevenue F

(Number Fof Favailable Fseats) Fx F(hours Fof Fseat Favailability) F- F(CORRECT FANSWER)-The

F formula Ffor FRevPASH



What Fis Fthe Fterm Fused Fto Fidentify Fa Fmanagement Fphilosophy Fthat Fplaces Fcustomer Fgain

F ahead Fof Fshort-term Frevenue Fmaximization Fin Frevenue Fmanagement Fdecision Fmaking? F-

F (CORRECT FANSWER)-Customer-centric Frevenue Fmanagement



What Fis Fthe Fterm Fused Fto Fdescribe Fthe Fpotential Fcustomers Fto Fwhom Fa Fbusiness's

F marketing Factivities Fand Fmessages Fare Fdirected? F- F(CORRECT FANSWER)-The Ftarget

F market



What Fis Fthe Fterm Fused Fto Fdescribe Fefforts Fundertaken Fto Fencourage Ftravel Fand Ftourism Fto

F a Fspecific Fgeographic Farea For Fattraction? F- F(CORRECT FANSWER)-Destination FMarketing



What Fis Fthe Fname Ffor Fthe Fvalue Fgiven Fup Fby Fa Fbuyer Fand Fa Fseller Fin Fa Fbusiness

F transaction? F- F(CORRECT FANSWER)-Price



Charging Fguests Ffor Fwatching Fa F"Pay-Per-View" Fmovie Fin Ftheir Fhotel Fguestroom Fis Fan

F example Fof Fwhat Ftype Fof Fpricing? F- F(CORRECT FANSWER)-Two-tiered Fpricing

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