Revenue Management Final UPDATED Questions and CORRECT Answers
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Course
Revenue Management
Institution
Revenue Management
Revenue Management Final UPDATED
Questions and CORRECT Answers
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 - Correct Answer- -total revenues
historically, what concept have hospit...
Revenue Management Final UPDATED
Questions and CORRECT Answers
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 - Correct Answer- -total revenues
historically, what concept have hospitality managers chiefly used to calculate their selling
prices?
-income
-revenue
-costs
-profits - Correct Answer- -costs
what is an algebraic equivalent of the formula: sales=costs+profit?
what is the name for the net value achieved by both parties in a business transactions?
-revenue
-profit
-income
-expense - Correct Answer- -profit
what element is not present in a barter economy?
-product exchange
-money
-profit
-sellers - Correct 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 -
Correct 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?
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% - Correct 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
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