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Revenue Management Final Exam Questions with 100% Correct Answers
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Revenue Management Final Exam Questions with 100% Correct Answers
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Revenue Management Final ExamQuestions with 100% Correct Answers
hurdle rate - ✅✅lowest rate for a given day
smoothing demand - ✅✅benefit of variable pricing within rev management
revenue management - ✅✅a set of strategies and techniques used to sell the right product,
to the right customer, at the right time, for the right price
revenue magement is a set of revenue maximization strategies and statistics that - ✅✅can
be used to improve the profitability of certain businesses
when american airlines CEO developed yield management - ✅✅forecasting was critical
most hotels - ✅✅have multi tiered rate structures that they adjust based on key
rev management variables
the hotel industry recognizes rev man as - ✅✅a core competencies vital to profitablility
most tactical level rev man actions can be controlled with - ✅✅a simple spreadsheet
designed by those who use it everyday
travelers today have more clout than ever before because... - ✅✅they have information
on virtually everything at their fingertips
, to unlock the full potential of rev man you need.. - ✅✅-a perishable primary product
-fixed-capacity environment
-varied but predictable demand -high fixed costs, low variable costs
RevPATI - ✅✅revenue per available time based inventory
capacity utilization*average revenue per service transaction
rev man is... - ✅✅-a set of strategies and tactics
-a way of doing business identifying relevant sources and always measuring results
-a fin man tool
disciplines in rev man - ✅✅-operations
management -financial management
-sales and amp, marketing management
if a 300 room hotel achieves 70% occupancy for april at ADR $153 per room, what will room rev
equal - ✅✅$963,900
(300*.7)*30(days in April)*153
room rev - ✅✅number of rooms sold*room rate charged
market segment - ✅✅customer group that can be readily identified by one or more
characteristic
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