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Hospitality Revenue Management Final Exam (Compilation of possible final exam questions based on exams 1-4) 200 Q&A/ A+ Score Solution. Most of the entities below are classified as "Chains". Which one is a "Parent Company" co£7.09
Hospitality Revenue Management Final Exam (Compilation of possible final exam questions based on exams 1-4) 200 Q&A/ A+ Score Solution. Most of the entities below are classified as "Chains". Which one is a "Parent Company" co
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Module
Hospitality Revenue Management
Institution
Hospitality Revenue Management
Hospitality Revenue Management Final Exam (Compilation of possible final exam questions based on exams 1-4) 200 Q&A/ A+ Score Solution.
Most of the entities below are classified as "Chains". Which one is a "Parent Company" consisting of multiple chains? - Answer: Accor Hotels
Which is a true...
Hospitality Revenue Management Final Exam
(Compilation of possible final exam questions
based on exams 1-4) 200 Q&A/ A+ Score
Solution.
Most of the entities below are classified as "Chains". Which one is a "Parent Company"
consisting of multiple chains? - Answer: Accor Hotels
Which is a true statement about Parent Companies? - Answer: Parent Companies and the
related chains have changed over time
What are the three different operation types? - Answer: Chain Management, Franchise,
Independent
What is the most common guest complaint about hotel guest rooms? - Answer: Service
deficiencies
,What is the most common guest complaint in the foodservice industry? - Answer: Service
quality
Consider the formula: (A + B) - C = D
Where:
A = Perceived tangible product benefit
B = Perceived intangible service benefit
C = Price
D = Value
If all other variables are held constant, which statement is also true - Answer: As C decreases, D
increases
Which two factors do successful revenue managers employ when they devise and implement
strategic pricing plans? - Answer: Data management and insight
All except one of the following pricing systems are marketing-based. Which one is NOT an
example of marketing-based pricing? - Answer: Return on Investment (ROI) pricing
What is true for franchised hotel operations in the United States? - Answer: Their prices are
established by the hotel owners
What is the relationship between differential pricing and consumer surplus? - Answer:
Differential pricing is a strategy used by sellers to minimize consumer surplus
Hottickets.com is a web-based business that buys popular concert tickets in bulk. It buys the
tickets at a low price because it qualifies for group ticket discounts offered by concert
promoters. Hotticket.com then marks up and immediately resells the tickets it has purchased to
, interested individuals who visit the Hotticket website. What is the name of the activity
Hottickets.com is engaging in? - Answer: Arbitrage
The use of a formal customer rewards program is an example of what type of differential pricing
strategy? - Answer: Pricing based on customer characteristic
The premium prices charged for dinner served at the restaurant Le Jules Vernes on the second
level of the Eifel Tower in Paris, France can be attributed, in part, to which type of differential
pricing strategy? - Answer: Pricing based on location
Which statement about high volume buyers in the hospitality industry is true? - Answer: The
per-unit cost of selling to them is less than the cost associated with low volume buyers
What is the formula revenue managers use to calculate Net ADR Yield? - Answer: Net Room
Rate / Standard ADR = Net ADR Yield
Which statement about revenue management and revenue optimization is true? - Answer:
Revenue management seeks to maximize income while revenue optimization seeks to maximize
long-term profits
Hotel revenue managers face hard supply constraints. In which industry below are hard
constraints also likely to be encountered? - Answer: Hair salons
What two factors establish a restaurant's weekly customer capacity? - Answer: Number of seats
and number of hours open per week
What is the name for the laws and regulations aimed at preventing abusive business behavior or
anti-competitive practices? - Answer: Anti-trust legislation
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