CHIA Practice Exam with Complete & Verified Solutions | 100% Correct

CHIA Practice Exam with Complete & Verified Solutions | 100% Correct Most of the entities below are classified as "Chains". Which one is a "Parent Company" consisting of multiple chains? - Answer ️️ -Starwood Hotels and Resorts, Accor Which is a true statement about Parent Companies? - Answer ️️ -parent companies and the related chains have changed over time What are the three different operation types? - Answer ️️ -corporate (chain management), franchise, independent Which is a true statement about independent hotels? - Answer ️️ -independent hotels are not affiliated with a specific chain Which is a true statement about management companies? - Answer ️️ -management companies have contracts where they receive payment for their services and/or some portion of profits Which is a true statement regarding geographic categorization? - Answer ️️ -STR uses UNWTO definitions when it comes to recognizing countries Which is a true statement regarding markets? - Answer ️️ -no market will ever cross country boundaries In a descending order of geographic size, which option below is correct? - Answer ️️ - continent, sub-continent, country, market, tract/sub-market Which two geographic categories are the most important for a hotel GM? - Answer ️️ -market and tract/sub market Markets and tracts are created based on what two determining factors? - Answer ️️ -number of hotel and participation