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Hospitality Revenue Management final exam review Questions and Answers R274,87
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Hospitality Revenue Management final exam review Questions and Answers
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What is the industry term used to describe the sum of prices paid by a business's customers? Ans- total revenues Historically, what concept have hospitality managers chiefly used to calculate their selling prices? Ans- costs What is an algebraic equivalent of the formula: Sales = Costs + Pr...

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  • August 2, 2024
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  • 2024/2025
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Hospitality Revenue
Management final exam
review Questions and
Answers


What is the industry term used to describe the sum of prices paid by a

business's customers?


Ans- total revenues




Historically, what concept have hospitality managers chiefly used to calculate

their selling prices?


Ans- costs




What is an algebraic equivalent of the formula: Sales = Costs + Profit?


Ans- profit=sales-costs

,What is the name for the net value achieved by both parties in a business

transaction?


Ans- profit




What element is not present in a barter economy?


Ans- money




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


Ans- 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?


Ans- constrained supply




Which industry was the first to use Yield Management principles?

,Ans- airline




What is the industry term used to describe the selling of rooms which are not

actually available for sale?


Ans- overbooking




What is the formula used to calculate Average Daily Rate?


Ans- 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?


Ans- 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?


Ans- $140

, What is the industry term for the average revenue generated by each occupied

guestroom during a defined period of time?


Ans- RevPOR




What is the formula used to calculate GOPPAR?


Ans- (Total Revenue - Management Controllable Expenses) / Rooms Available to

Sell = GOPPAR




What is the industry term for a customer group which can be readily identified

by one or more common characteristics?


Ans- market segment




What is a rack rate?


Ans- 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)

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