Hotel industry - Study guides, Revision notes & Summaries

What is the industry term used to describe the sum of prices paid by a business's customers? - Answer-total revenues Historically, what concept have hospitality managers chiefly used to calculate their selling prices? - Answer-costs What is an algebraic equivalent of the formula: Sales = Costs + Profit? - Answer-profit=sales-costs What is the name for the net value achieved by both parties in a business transaction? - Answerprofit What element is not present in a barter economy? - Answer-...

Which of the following statements about hotel food and beverage operations is TRUE? a. Hotel marketing efforts focus exclusively on attracting hotel guests to dine at the property's food and beverage outlets. b. Room service is typically the most profitable food service operation in a hotel. c. The restaurant manager in a hotel has greater decision-making powers than a manager of a freestanding restaurant. d. Catering responsibilities in a hotel are generally a function of the marketing and...

What is the industry term used to describe the sum of prices paid by a business's customers?: total revenues Historically, what concept have hospitality managers chiefly used to calcu- late their selling prices?: costs What is an algebraic equivalent of the formula: Sales = Costs + Profit?: prof- it=sales-costs What is the name for the net value achieved by both parties in a business transaction?: profit What element is not present in a barter economy?: money What is the formula used to ca...

This document contains workings, explanations and solutions to the MNG3702 Assignment 2 (QUALITY ANSWERS) Semester 2 2024 Michelin is a leading French brand and manufacturer of tires and rubber products.The company was founded in 1888 by two Michelin brothers and grew to one of the largest tyre manufacturers in the world, with a market share of 14.8% in 2023. Oddly enough, the company also sells popular travel guides and road maps. They can make or break chefs by the number of Michelin stars th...

What is the industry term used to describe the sum of prices paid by a business's customers? - Answer-Total Revenues Historically, what concept have hospitality managers chiefly used to calculate their selling prices? - Answer-Costs What is an algebraic equivalent of the formula: Sales = Costs + Profit? - Answer-Profit = Sales - Costs What is the name for the net value achieved by both parties in a business transaction? - AnswerProfit What element is not present in a barter economy? - Ans...

AHLA INTERNATIONAL HOTELS EXAM QUESTIONS & ANSWERS 2024/2025 While several forces working together have dissolved national borders for industry and finance, what is the most influential of these forces? - ANSWERSThe most influential force in the dissolution on national borders is the increasing flow of communication. In which countries would domestic travel be expected to exceed international travel? - ANSWERSDeveloped countries are expected to exceed international travel. What worldw...

Which segment of the tourism industry includes lodging operations? - ️️Hospitality Which type of lodging operation offers its guests sleeping rooms, meeting space and complete food and beverage services? - ️️Full-Service An ala carte menu is one in which the menu items offered are individually - ️️Priced Which type of hotel is typically operated out of a converted home? - ️️Bed and Breakfast The US tourism industry is one of the top ten largest industries in - ️️4...

What is the industry term used to describe the sum of prices paid by a business's customers? - Answer- Total Revenues Historically, what concept have hospitality managers chiefly used to calculate their selling prices? - Answer- Costs What is an algebraic equivalent of the formula: Sales = Costs + Profit? - Answer- Profit = Sales - Costs What is the name for the net value achieved by both parties in a business transaction? - Answer- Profit What element is not present in a barter eco...

Hospitality correct answers Fastest growing industry worldwide fast paced, exciting, every day is different Product is INTANGIBLE (cant hold it) Service Experience correct answers When a guest meets and interacts with an employee "moment of truth" cannot be taken back or done over again Service industry correct answers include hospitality enterprises Example: employee/guest interactions- like a hotel front desk or in a restaurant different from manufacturing indus...

b. Hotels and hotel companies cannot obtain Ad-Hoc Industry reports or Destination Reports. - ANSWER-Which is NOT an accurate statement regarding the differences between STAR Reports, Ad-hoc Industry Reports, and Destination Reports? a. Ad-hoc Industry Reports are requested on a one-time, as needed basis. b. Hotels and hotel companies cannot obtain Ad-Hoc Industry reports or Destination Reports. c. Hotels and hotel companies have annual subscriptions to STAR reports and receive them on a re...