Hotel lodging - Study guides, Class notes & Summaries

who are players in the hotel industry - ANSWER-affiliations operations and independents categorizations used by hotel industry - ANSWER-geographic categories non-geographic categories what affiliations could a single hotel have - ANSWER-chain parent company management company owner asset management company chain - ANSWER-represents hotel brand which is clearly displayed to public and in all interactions STR uses ____ and _____ synonymously - ANSWER-chain and brand parent co...

Who is responsible for ensuring all charges are paid on the government travel card (GTC) by the statement due date? - ANSWER-The cardholder is responsible for all charges on the GTC. According to the Privacy Act, how is your private information protected when you apply for the card? (Select all that apply) - ANSWER-Only people who need my information have access to it. My information cannot be sold. My information cannot be given to a third party. Which travel reservation service is auth...

CHAPTER Version A I. True or _________ 1. _________ 2. _________ 3. _________ 4. _________ 5. known as suppliers. II. Write down the letter of the answer that best answers the question or completes the statement. _________ 6. The term VFR travel refers to: A. Visiting Friends and Relatives B. Very Frequent Reservations C. Very Favorable Restrictions D. Trick question: VFR refers to nothing _________ 7. Which of the following is not a sector of the travel industry? A. Corporate t...

revenue management principle - Answer-selling the right product at the right moment for the right price to the right client 3 major forecasts the Loews Chicago utilizes - Answer-budge, rolling forecast, 14 day forecast Index - Answer-the measurement of a hotel's performance relative to an aggregated grouping of hotels or comp set demand and placement generators - Answer-special events, comp set, citywide programs and loyalty programs attrition - Answer-the under-consumption (under-u...

A guest's perception of the relationship between what was paid for a hospitality product or service relative to what was received for the payment is called - value. Which answers the question "What do we want to create? - Vision. Which is the act of granting employees the authority (power) to make key decisions within their areas of responsibility? - Empowering. Which tool clarifies how a hotel will add value for guests, employees and others? - Mission. Which is a universal need of all h...

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? -income -revenue -costs -profits -costs what is an algebraic equivalent of the formula: sales=costs+profit? -profit=sales-costs -costs=sales+profits -costs=profit-sales -prof...

What is bigger in the tourism industry, fixed costs or variable costs? fixed costs are bigger -Think of an airplane: staffing, airport fees (fixed) - huge amount of the costs for airplanes come from fixed costs; food, fuel (variable) - not as easy to determine the variable costs We can reduce prices (even below total cost per room), as long as the reduced price covers, fixed cost per room or variable cost per room? We can reduce prices as long as the reduced price covers the variable ...

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...