Exam (elaborations)

Revenue Management Final Exam Question & Answers 2022

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CRME - Certified Revenue Management Executive

Institution
CRME - Certified Revenue Management Executive

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 calculate their selling prices? -in...

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Uploaded on November 14, 2022
Number of pages 74
Written in 2022/2023
Type Exam (elaborations)
Contains Questions & answers

historically
revenue management final exam question amp answers 2022
what is the industry term used to describe the sum of prices paid by a businesss customers
what concept have hospitality ma

Institution CRME - Certified Revenue Management Executive
Course CRME - Certified Revenue Management Executive

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Revenue Management Final Exam
Question & Answers 2022
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 - Answer -total revenues

historically, what concept have hospitality managers chiefly used to calculate their
selling prices?

-income

-revenue

-costs

-profits - Answer -costs

what is an algebraic equivalent of the formula: sales=costs+profit?

-profit=sales-costs

-costs=sales+profits

-costs=profit-sales

-profit=costs-sales - Answer -profit=sales-costs

what is the name for the net value achieved by both parties in a business transactions?

-revenue

-profit

-income

-expense - Answer -profit

what element is not present in a barter economy?

,Revenue Management Final Exam
Question & Answers 2022
-product exchange

-money

-profit

-sellers - Answer -money

what is the formula used to calculate an owner's ROI?

-owner's original investment/owner's investment return=owner's return on investment

-owner's investment return/owner's return=owner's return on investment

-owner's return on investment/owner's original investment=owner's return on investment

-owner's investment return/owner's original investment=owner's return on investment -
Answer owner's investment return/owner's original investment=owner's return on
investment

Sandy has 100 hotel 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?

-distribution channels

-differential pricing

-constrained supply

-yield management - Answer -constrained supply

which industry was the first to use yield management principles?

-lodging

-food service

-airline

-catering - Answer -airline

what is the industry term used to describe the selling of rooms which are not actually
available to sale?

,Revenue Management Final Exam
Question & Answers 2022
-overbooking

-yield management

-revenue management

-maximum ADR - Answer overbooking

what is the formula used to calculate average daily rate?

-owner's investment/occupancy rate=average daily rate

-rooms available for sale/occupancy rate=average daily rate

-total rooms sold/total room's revenue=average daily rate

-total room's revenue/total rooms sold=average daily rate - Answer total room's
revenue/total rooms sold=average daily rate

Tashia's hotel sold 175 rooms last night at an ADR of $200.00. Her hotel has 250
rooms. What was Tashia's occupancy % last night?

-87.5%

-70%

-114.3%

-80% - Answer 70%

Tashia's hotel sold 175 rooms last night at an ADR of $200.00. Her hotel has 250
rooms. What was Tashia's RevPAR last night?

-$140.00

-$35.00

-$125.00

-$160.00 - Answer $140.00

what is the industry term for the average revenue generated by each occupied
guestroom during a defined period of time?

, Revenue Management Final Exam
Question & Answers 2022
-REVPOR

-REVPASH

-REVPAR

-REVAVE - Answer REVPOR

what is the formula used to calculate GOPPAR?

-(total revenue - management controllable expenses) / rooms sold

-rooms available to sell / (total revenue - management controllable expenses)

-rooms available to sell / total management controllable expenses

-(total revenue - management controllable expenses) / rooms available to sell - Answer
(total revenue - management controllable expenses) / rooms available to sell

what is the industry term for a customer group which can be readily identified by one or
more common characteristics?

-comp set

-STR group

-market segment

-revenue group - Answer market segment

what is a rack rate?

-the price of rooms when nonrefundable advance purchases are made

-the price of rooms when no discounts of any type are offered

-the price of rooms when 0-10% discounts are offered

-the price for the most expensive room in a hotel - Answer the price of rooms when no
discounts of any type are offered

what is: total period revenue/ (number of available seats x hours of seat availability)

-the formula for REVPASH

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