Calculate revpar - Study guides, Class notes & Summaries

Revenue Management Final Exam Question & Answer 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 eleme...

CHIA Exam Questions with 100% correct Answers Verified & Updated Which of the following are not parent companies Holiday starwood choice wyndham - Answer ️️ -Holiday of what - Answer ️️ -70% chain, 30% Independent What are the US geographic categories used by hotel industry in descending order by size? - Answer ️️ -Country, region, state, market, tract What is the valid difference b/w scale and class? - Answer ️️ -There is separate scale group for independent hotels co...

Revenue Management Questions and Answers 100% Pass Revenue Management selling to the right guests at the right time at the right price to make the most profit Two characteristics of hospitality product perishability & intangibility How are revenue managers incentivized financially? How might this influence their decisions? on diff. basis such as RevPAR, Index, % Change - depending on what their incentives are based on, the hotel's performance or profit can differ Describe to someone who has ...

CHIA Exam Questions With 100% Correct Answers Which of the following are not parent companies Holiday starwood choice wyndham - answerHoliday of what - answer70% chain, 30% Independent What are the US geographic categories used by hotel industry in descending order by size? - answerCountry, region, state, market, tract What is the valid difference b/w scale and class? - answerThere is separate scale group for independent hotels compared to class where independent are combined in group...

CHIA Sample Questions and Answers (Graded A) Most of the entities below are classified as "Parent Companies". Which one is a "chain" within a larger parent company? - Answer ️️ -Ritz Carlton When talking about US industry data, which is an accurate explanation of "modeled data"? - Answer ️️ -Modeled data is derived by using actual data from reporting hotels to estimate performance for non-reporting hotels What is the period of time a hotel must close completely due to renovat...

CHIA Exam Questions With 100% Correct Answers 2024 Calculate % Change - answerThis year - last year / last year *100 Which one of the following is a chain? a.Hampton Inn b.Radisson Blu c.Accor Hotels d.Holiday Inn Express - answerc. Accor Hotels What statement is true about parent companies? a. Parent companies and the related chains have changed over time b.Parent companies must consist of no more than five chains c.Parent companies can only consist of chains in a single scale d.Par...

Revenue Management Final Exam Question & Answers 2024. 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 -...

What is the industry term used to describe the sum of prices paid by a business's customers? - Answer Total Revenues Historically, what concept have hospitality managers chiefly used to calculate their selling prices? - Answer Costs What is an algebraic equivalent of the formula: Sales = Costs + Profit? - Answer Profit = Sales - Costs What is the name for the net value achieved by both parties in a business transaction? - Answer Profit What element is not present in a barter eco...

CHIA Exam Questions With 100% Correct Answers 2024 Calculate % Change - answerThis year - last year / last year *100 Which one of the following is a chain? a.Hampton Inn b.Radisson Blu c.Accor Hotels d.Holiday Inn Express - answerc. Accor Hotels What statement is true about parent companies? a. Parent companies and the related chains have changed over time b.Parent companies must consist of no more than five chains c.Parent companies can only consist of chains in a single scale d.Par...

HM 441 Exam #1|65 Questions with Answer 2023 Product, Customer, Time, Price - CORRECT ANSWER Revenue management is selling the right _______ to the right _________ at the right ________ for the right ________ Revenue/Yield Management - CORRECT ANSWER Maximize revenue by optimizing capacity, rates and prices and distribution under current and future demand/supply MARKET condition Demand Forecasting - CORRECT ANSWER The most important revenue management feature is They have informati...